Jewellery & Watch Wholesaling in Canada - Industry Market Research Report

Precious jewels: Commodity prices of gold, silver, and platinum will likely drop, contributing to slower industry revenue growth

Canada's Jewellery and Watch Wholesaling industry has shrivelled over the past five years, faced with intense competition from online retailers and sinking consumer confidence. The COVID-19 pandemic pummeled discretionary purchases and kept luxury items like fine jewellery stuck in warehouses as consumers opted for more affordable alternatives. Demand for costume jewellery somewhat mitigated declines as shoppers were eager to keep up with fast fashion. Although prices of commodities like gold and silver skyrocketed as consumers stocked up on safe-haven assets, the inflated prices failed to alleviate revenue declines. Over the past five years, revenue for jewellery and watch wholesalers has been declining at a CAGR of 6.0% and is expected to reach $3.6 billion in 2023, when revenue is projected to expand 5.1%.

This industry wholesales fine jewellery, costume jewellery, watches, clocks, precious metals, metal flatware, precious and semiprecious stones, silverware and jewellers’ findings. This industry does not include the wholesale of precious metal ores or flatware made of nonprecious metal.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.