The UK jewellery and bijouterie market experienced significant volatility from 2013 to 2023, with peaks and troughs driven by economic conditions and consumer sentiment. The turnover hit a peak in 2015, followed by a decline in subsequent years, exacerbated by the pandemic's impact in 2020. The year 2023 saw the market stabilizing at 1.16 billion Euros. Year-on-year variations over the last two years were -0.47% in 2022 and -0.45% in 2023. The compound annual growth rate (CAGR) over the last five years was a modest 0.041%. The forecast from 2024 shows a gradual decline, reaching 1.13 billion Euros in 2028, with a five-year CAGR of -0.38%.
Future trends to watch for:
- Digital transformation in jewellery retailing
- Sustainable and ethical jewellery demand
- Impact of economic changes on disposable income
