PROSPECTS AND OPPORTUNITIES
Changes in trends in earrings, and Richemont set to maintain its lead
Jewellery in South Korea is set to maintain retail volume and current value growth throughout the forecast period, with increases anticipated for both costume and fine jewellery. Holding a strong lead in jewellery at the end of the review period, with a share double that of the nearest player, Richemont Korea Ltd is set to maintain its lead in the forecast period.
Growth potential for luxury fine jewellery as players increase their ranges and open stores
After years of growth in the luxury market being driven mainly by bags, the forecast suggests that jewellery will also see significant growth potential growth. An increasing number of consumers have been demanding luxury fine jewellery, with the open runs previously seen for luxury bags now switching to luxury jewellery.
Stronger competition for customers between online and offline channels
Due to authentication issues and limited availability, department stores and jewellery and watch specialists remain the dominant sales channels for jewellery. However, over the forecast period jewellery is expected to experience slow growth in sales via retail e-commerce, which may negatively impact distribution via these channels, and these retailers are taking action accordingly.
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Overview:
Understand the latest market trends and future growth opportunities for the Jewellery industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Jewellery industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Jewellery in South Korea report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Jewellery in South Korea?
- Which are the leading brands in Jewellery in South Korea?
- How significant is tourism in determining sales and demand for Jewellery in South Korea?
- How are COVID-19 and global recession impacting demand for Jewellery in South Korea?
- In the wake of COVID-19, how soon can Jewellery be expected to recover? Where are the opportunities for growth now?
- Where is future growth expected to be most significant?
Jewellery in South Korea - Category analysis
KEY DATA FINDINGS
KakaoTalk Gift becomes an increasingly important distribution channel
Platinum, silver, and lab-grown diamonds are on the rise
Although women’s jewellery continues to dominate, unisex and men’s jewellery see growth
Changes in trends in earrings, and Richemont set to maintain its lead
Growth potential for luxury fine jewellery as players increase their ranges and open stores
Stronger competition for customers between online and offline channels
Personal Accessories in South Korea - Industry Overview
Personal accessories in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for personal accessories?
DISCLAIMER
The following categories and subcategories are included:
Jewellery
- Costume Jewellery
- Fine Jewellery
Jewellery
Jewellery is a kind of personal adornment usually made with various precious and semi-precious materials such as gemstones, precious metals, beads, glass, and shells. Jewellery is segmented as either real or costume jewellery. Hair Accessories are not included as part of Real or Costume jewellery.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Jewellery research and analysis database.
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