McKinsey & Company e The Business of Fashion pubblicano il “The State of Fashion Watches and Jewellery Report”

Following the decline in revenue recorded during the pandemic, specifically 10 to 15% for jewellery and 25 to 30% for watches, steady growth is expected for both sectors until 2025.

This thesis is supported by The State of Fashion Watches and jewellery Report by The Business of Fashion and McKinsey & Company, which states that, with specific reference to the watch market, the shift to a mostly direct-to-consumer sales model will shift approximately $2.4 billion in annual revenue from retailers to brands.

The report presented emphasizes that between now and 2025, “the watch market will grow by 1 to 3% per year, driven largely by luxury and ultra-luxury brands that will continue to dominate the market, and by Asian countries that will outpace the growth of other regions, remaining the most important market for watchmakers.”

Second-hand products and resale will also be one of the predominant drivers of growth, with sales in the used watch market estimated at between $29 billion and $32 billion.

Finally, in terms of markets, Asia will also play a crucial role in the performance of jewellery brands, with consumption increasingly local and less reliant on tourist shopping. Jewellery will be able to clear customs for e-commerce as a sales channel, with 18-21% of turnover generated online by 2025. Fine jewellery purchases influenced by sustainability considerations are set for “marked growth,” reaching 20-30% of global sales in 2025.