Jewerly & Watch Wholesale

Operators in the Jewelry and Watch Wholesaling industry have experienced volatility over the five years to 2022 due to the unstable prices of precious metals. The weight of the precious metal that a piece of jewelry contains largely determines its retail price. Consequently, any large change in the prices of commodities, such as gold, silver or platinum, has a strong influence on the industry. Industry revenue is highly affected by the price of these commodities, as they affect both the cost and selling price of industry goods. In 2020, the COVID-19 (coronavirus) pandemic disrupted global financial markets, increasing the price for precious metals. Consequently, industry revenue is expected to decrease during the period amid a shift in downstream purchasing decisions due to the coronavirus pandemic. Overall, industry revenue is expected to decrease at an annualized rate of 2.0% to $54.4 billion over the five years to 2022. However, this includes an increase of 1.1% in 2022 alone.