LONDON--(BUSINESS WIRE)--The costume jewelry market size is poised to grow by USD 13.24 billion during 2020-2024, progressing at a CAGR of almost 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
Online retailing has gained popularity for shopping costume jewelry owing to benefits such as easy returns, discounts, and convenience. Many critical vendors in the market are selling their products through third-party e-commerce websites such as Amazon and Walmart. These online retail stores are helping the vendors in increasing the visibility of products through various digital marketing strategies and the provision of product descriptions, reviews, and comparison. Moreover, vendors are investing in establishing a personalized shopping experience in online shopping. They are focusing on combining brick-and-mortar retail and virtual elements to build a modernized and interactive shopping platform. As a result, sales of costume jewelry through the online distribution channel are expected to increase in the coming years, which will drive the costume jewelry market growth during the forecast period.
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Report Highlights:
- The major costume jewelry market growth came from the offline distribution channel segment. Costume jewelry available through offline channels, such as hypermarkets, supermarkets, specialty retail stores, and vendors’ proprietary retail stores, has recorded significant sales over the years. This is attributed to many customers’ preference for the traditional method of shopping from brick-and-mortar stores. Brick-and-mortar stores enable personalized shopping experience owing to the touch-and-feel factor. Moreover, most of the premium products are sold offline.
- North America was the largest market for costume jewelry in 2019 and the region will offer several growth opportunities to market vendors during the forecast period. The increasing demand for costume jewelry from millennials and the easy access to such products through the online distribution channel are some of the significant factors driving the costume jewelry market share of North America. Considering the lucrative market landscape in the region, vendors are considering mergers and acquisitions, which is further driving the market growth.
- The global costume jewelry market is fragmented. Avon Products Inc., BaubleBar Inc., Buckley Jewellery Ltd., Cartier SA, Gianni Versace Srl, Giorgio Armani Spa, K&M Associates LP, Randa Accessories, STELLA & DOT LLC, and Stuller Inc. are some of the major market participants. To help clients improve their market position, this costume jewelry market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the costume jewelry market 2020-2024 is expected to have Negative and Inferior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Innovative Designs in Premium Costume Jewelry will be a Key Market Trend
Changing consumer lifestyle, rising disposable incomes, and awareness about costume jewelry brands through social media are aiding vendors in increasing their sales. The demand for designer jewelry with distinctive designs is expected to grow, primarily because of the customers’ preference for owning exclusive products, which is one of the vital costume jewelry market trends. Noting the lucrative market landscape, established vendors are opting for mergers and acquisitions to improve their innovation capabilities. These factors will positively impact the market growth.
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Costume Jewelry Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist costume jewelry market growth during the next five years
- Estimation of the costume jewelry market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the costume jewelry market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of costume jewelry market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Preface
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Value chain analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market size and forecast 2019-2024
- Market outlook
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
- Market segmentation by distribution channel
- Comparison by distribution channel
- Offline - Market size and forecast 2019-2024
- Online - Market size and forecast 2019-2024
- Market opportunity by distribution channel
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Rising emphasis on inorganic growth
- Innovative designs in premium costume jewelry
- Increased demand from millennials
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Avon Products Inc.
- BaubleBar Inc.
- Buckley Jewellery Ltd.
- Cartier SA
- Gianni Versace Srl
- Giorgio Armani Spa
- K&M Associates LP
- Randa Accessories
- STELLA & DOT LLC
- Stuller Inc.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
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