Jewellery Stores in Canada - Market Research Report (2013-2028)
New York, United States
Last Updated: October 2023
NAICS 44831CARevenue
$4.0bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
18,163
Businesses
3,414
Wages
$XXX.Xm
Jewellery Stores in Canada industry analysis
The Jewellery Stores industry in Canada sells jewellery, timepieces and sterling and plated silverware from brick-and-mortar establishments. Industry revenue has decreased through the end of 2023 as worsening economic conditions across Canada amid the COVID-19 pandemic prompted a decrease in downstream consumer demand for jewellery and watches. The industry has also experienced increased external competition from department stores, mass merchandisers and e-commerce platforms. During this period, increased demand for these competing industries, particularly online-based businesses, has pressured industry demand. As a result of increased external competition and weak economic conditions, industry revenue has been falling at a CAGR of 2.3% over the past five years and is expected to reach $4.0 billion through the end of 2023. Revenue is expected to fall 0.7% in 2023 alone, as growth in gold and silver prices is forecast to deter new purchases of jewellery. In addition, coronavirus caused majority of the industry's establishments to close during the pandemic to help mitigate the spread of the virus, exacerbating revenue declines throughout the period.Given the industry's commoditization, the price movements of precious metal inputs can significantly influence the industry's overall performance. Fluctuations in the prices of gold, silver and diamonds have both positive and negative effects on the industry. Although increases in the prices of precious metals raise the costs for the industry's products, it also deters many lower-income consumers from purchasing jewellery. As a result, average industry profit will account for 6.3% of revenue in 2023, compared with 7.0% in 2018.Revenue is expected to grow at a CAGR of 0.4% to reach $4.0 billion through the end of 2028. Increasingly stabilizing commodity prices and a growing economy are both expected to contribute to more consistent industry growth through the end of 2028. A significant share of industry revenue is generated by the wealthiest income quintile. Therefore, an expansion in the number of households earning $100,000 or more will further broaden the industry's customer base. Still, increased competition from external industries, particularly e-commerce websites, is projected to pressure industry growth.
Trends and Insights
- The COVID-19 pandemic dealt a major blow to the industry. The forced shutdown of nonessential businesses resulted in an unprecedented 20.1% drop in revenue in 2020 alone.
- High-income households are the industry’s main downstream market. Even in strenuous economic times, these households are still able to purchase expensive discretionary goods.
- Population centres are natural congregation points for the industry. The denser a given region is, the greater the likelihood of mid-to-high-income households who can afford jewellery.
- Retailers compete with one another on a local level. Jewellery stores establish storefronts in high-traffic areas, ideally with high tourism rates, to maximize potential revenue.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 2.3 % over the past five years, to reach an estimated $4.0bn in 2023.
Trends and Insights
Macroeconomic effects play a part in industry movements
- Given the discretionary nature of the industry's goods, the industry is particularly sensitive to changes in the broader Canadian economy.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
External competition is expected to be prevalent in the industry
- The industry is expected to experience increased external competition through the end of 2028, particularly from online stores.
Biggest companies in the Jewellery Stores in Canada
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Tiffany & Co. | 385.6 | 43.7 | 11.3 | |
Signet Jewelers Limited | 297.7 | 18.1 | 6.1 | |
Michael Hill International Limited | 153.7 | N/A | N/A |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Jewellery Stores in Canada
Products & Services
Industry revenue is measured across several distinct product and services lines, including Diamond jewellery, Gold jewellery and Watches. Diamond jewellery is the largest segment of the Jewellery Stores in Canada.
Trends and Insights
Diamond jewellery forms the second-largest product segment
- Diamond jewellery forms the second-largest product segment in the Jewellery Stores industry in Canada.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- New Car Dealers in Canada
- Consumer Electronics Stores in Canada
- Beauty, Cosmetics & Fragrance Stores in Canada
- Handbag, Luggage & Accessory Stores in Canada
Complementors
- Jewellery & Watch Wholesaling in Canada
International industries
- Jewelry Stores in the US
- Online Jewelry & Watch Sales in the US
- Watch and Jewellery Retailing in Australia
- Watch and Jewellery Retailing in New Zealand
- Jewellery & Watch Stores in the UK
Table of Contents
About this industry
Industry definition
This Jewellery Stores industry in Canada retails jewellery made of gold, diamonds, silver and other precious metals and gemstones. This industry only includes specialty jewellery stores and does not include department stores or online establishments that sell jewellery along with other items.
What's included in this industry?
Selling gold jewellerySelling silver jewellerySelling diamond jewelleryCompanies
Tiffany & Co.Signet Jewelers Limited Michael Hill International LimitedPurchase this report to view all 4 major companies in this industry.
Related Terms
CUTKARAT GEMOLOGISTELECTRONIC DATA INTERCHANGE (EDI)Industry Code
NAICS 448310 - Jewellery Stores in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The COVID-19 pandemic dealt a major blow to the industry. The forced shutdown of nonessential businesses resulted in an unprecedented 20.1% drop in revenue in 2020 alone.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
High-income households are the industry’s main downstream market. Even in strenuous economic times, these households are still able to purchase expensive discretionary goods.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2023
- Product innovation level
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Population centres are natural congregation points for the industry. The denser a given region is, the greater the likelihood of mid-to-high-income households who can afford ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each province in 2023
- Number and share of revenue each province accounts for in 2023
- Number and share of wages each province accounts for in 2023
- Number and share of employees in each province in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Retailers compete with one another on a local level. Jewellery stores establish storefronts in high-traffic areas, ideally with high tourism rates, to maximize potential reve...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Tiffany & Co. is the industry’s largest retailer. The company has been able to maintain its market share through strategic acquisitions of competitors and upstream manufactur...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Tiffany & Co.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Signet Jewelers Limited 's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Michael Hill International Limited's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Tiffany & Co., and factors influencing its performance in the industry
- Description and key data for Signet Jewelers Limited , and factors influencing its performance in the industry
- Description and key data for Michael Hill International Limited, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
There is little direct regulation or assistance for the industry. Outside of general labour laws, jewellery retailers are largely left to their own devices.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Purchases are the industry’s largest expense. Since most retailers do not actually produce anything themselves, they must buy jewellery from upstream manufacturers.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Assets (2016-2021)
- Liabilities (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Jewellery Stores industry in Canada in 2024?
The market size of the Jewellery Stores industry in Canada is $4.0bn in 2024.
How many businesses are there in the Jewellery Stores in Canada industry in 2023?
There are 3,414 businesses in the Jewellery Stores industry in Canada, which has declined at a CAGR of 2.5 % between 2018 and 2023.
Has the Jewellery Stores industry in Canada grown or declined over the past 5 years?
The market size of the Jewellery Stores industry in Canada has been declining at a CAGR of 2.3 % between 2018 and 2023.
What is the forecast growth of the Jewellery Stores industry in Canada over the next 5 years?
Over the next five years, the Jewellery Stores industry in Canada is expected to grow.
What are the biggest companies in the Jewellery Stores market in Canada?
The biggest companies operating in the Jewellery Stores market in Canada are Tiffany & Co., Signet Jewelers Limited and Michael Hill International Limited
What does the Jewellery Stores in Canada include?
Selling gold jewellery and Selling silver jewellery are part of the Jewellery Stores industry.
Which companies have the highest market share in the Jewellery Stores in Canada?
The company holding the most market share in Canada is Tiffany & Co..
How competitive is the Jewellery Stores industry in Canada?
The level of competition is high and steady in the Jewellery Stores industry in Canada.
