The fine jewellery market can be split into 3 price segments, the affordable segment (defined as jewellery with a price less than USD 1,500), in which PANDORA operates, and the luxury and high-end jewellery segments (prices of USD 1,500 to USD 10,000 and greater than USD 10,000, respectively). The affordable segment accounted for 57%, or USD 83 billion, of the fine jewellery market (2009).
PANDORA is the largest participant in the charm bracelet and charms fine jewellery market in terms of estimated revenue at retail value.
The overall size of the charm bracelet and charms fine jewellery market was estimated to be worth approximately USD 9.6 billion in 2009 (measured by estimated revenues at retail value).
Between 2000 and 2009, the charm bracelet and charms fine jewellery market experienced an annual growth of approximately 6%.
We have identified the following global trends:
- Branding: brands entering the market and taking market share from local jewellery shops
- Fashionability: jewellery is increasingly perceived as an accessory, which is changing spending habits
- Customization: increasing demand for personalised jewellery
- New customer segmentation: for example, more female self-purchasers driven by increasing number of working women
- Growth in consumer base driven by emerging markets
Source: Third party independent research.