Management report “personal companion in everyday life – study of the jewelry, watches and accessories market in Germany”: the market offers good growth opportunities for young entrepreneurs and established brands. Stationary trade is the first source of inspiration for consumers. Online trading expands its meaning: internet pure players are the driver of the market.
The growth trend continues: for jewelry, watches, and personal accessories 9.6 billion euro is produced, predicts an increase of market volume until 2019 to 10.7 billion euro. Thus, every citizen would spend in the year 2019 133.66 euro on average for the personal companion in everyday life. “The results of the current study show clearly that the market will evolve positively for jewelry, watches, and personal accessories.” The good news for the over-the-counter retail is that the business on the ground will remain the most important source for consumers, to get suggestions and ideas for the purchase.” The management report with the title “personal companion in everyday life – study of the jewelry, watches and accessories market in Germany”, appears to the this year’s tendency and shows in addition to the projected market trends what role play in the purchasing and behavior gender, income and age. The study was given by Messe Frankfurt and the IFH Cologne Trade Research Institute (IFH retail consultants) and the GFK Nuremberg. In addition to the collection of basic statistics, a detailed representative survey using face-to-face interviews was conducted with 970 people from Germany.
Men or women – who’s buying, who pays?
Gender, income and age play a large role in the purchasing and behavior. There are women who buy jewelry and personal accessories for themselves and would rather give away clocks. For men it is the other way around: you give away jewelry and personal accessories and buy more watches for themselves. The study shows clearly that singles are the largest spontaneous buyer. But both women and for men are considered: the trade plays a dominant role as a source of inspiration: more than 50 percent get their suggestions at the window-shopping.
Online commerce continues to grow
The trend in all three markets is hardly surprising in view of the ever-increasing growth trends in the online sector: total online trading of 16.4% (2014) to rise to 21.7 percent in 2019, while the dominant sales of stationary trading will lose from 83.6 percent to 78.3 percent. The internet pure players ahead of the online shops of stationary dealers are the drivers of the market. As the study shows, the online trade in these range areas compared to other markets is still little represented. Already, the markets of books, women’s clothing or image and sound carriers recorded a significantly higher percentage online.