Jewellery & Watch Wholesaling in Canada - Market Research Report (2013-2028)
New York, United States
Last Updated: August 2023
NAICS 41441CARevenue
$3.6bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
2,553
Businesses
834
Wages
$XXX.Xm
Jewellery & Watch Wholesaling in Canada industry analysis
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%.The burgeoning popularity of online jewellery and watch retailers has intensified the competitive landscape for wholesalers and exacerbated sales declines. E-retailers capitalize on lower overhead costs by offering lower-priced products, siphoning demand from wholesalers. Jewellery and watch producers have also set up retail outlets to bypass wholesalers. Wholesalers have attempted to remain competitive by offering more value-added products and services and targeting niche markets, keeping profit afloat.Looking forward, jewellery and watch wholesalers will likely benefit from swelling consumer confidence and consumer spending. Commodity prices of gold, silver, and platinum will likely drop from their historic peaks, contributing to the slower revenue growth but simultaneously fueling demand. A movement toward ethically-sourced and sustainable products will continue gaining traction, prompting wholesalers to incorporate transparency and traceability into their supply chains. Over the next five years, revenue will likely grow at a CAGR of 3.4% to reach an estimated $4.3 billion in 2028.
Trends and Insights
- Shifting consumer behaviours and swelling e-commerce competition have curbed jewellery and watch sales. To stay competitive, wholesalers are adjusting business models to embrace e-retailing and mee consumer demands for ethically-sourced products and customized designs.
- Demand for diamonds and precious metals has surged as consumers hold tight to safe-haven assets. The COVID-19 pandemic and more recent inflationary pressures have crushed consumer confidence and boosted gold and silver sales.
- Ontario holds a dominant position as Canada's jewellery and watch wholesale hub. The province benefits from its substantial population and its geographical location, which is conveniently close to manufacturing hubs and US markets.
- Price is the main competitive factor in Canada’s Jewellery and Watch Wholesaling industry. Product differentiation often comes down to quality, design and the value of the precious metals used.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 6.0 % over the past five years, to reach an estimated $3.6bn in 2023.
Trends and Insights
Shaky consumer confidence crushes jewellery and watch sales
- The COVID-19 pandemic dramatically reduced consumers' confidence in the economic environment, prompting them to withhold spending on discretionary and luxury items like jewellery and watches.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Jewellery and watch wholesalers look forward to a bright future
- A major recovery in consumer confidence and consumer spending will fuel jewellery and watch sales over the next five years.
Biggest companies in the Jewellery & Watch Wholesaling in Canada
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Sindbad Inc. | 38.1 | N/A | N/A | |
Canadian Gem PA Inc. | 25.4 | N/A | N/A |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
Products & Services Segmentation
Jewellery & Watch Wholesaling in Canada
Products & Services
Industry revenue is measured across several distinct product and services lines, including Diamonds and diamond jewellery, Watches, clocks and parts and Precious metals. Diamonds and diamond jewellery is the largest segment of the Jewellery & Watch Wholesaling in Canada.
Trends and Insights
Diamonds shine bright for jewellery and watch wholesalers
- This segment includes diverse varieties of diamond jewellery and raw, uncut diamonds.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Clothing & Clothing Accessories Wholesaling in Canada
Complementors
- Furniture & Furnishings Wholesaling in Canada
- Computer & Packaged Software Wholesaling in Canada
International industries
- Jewelry & Watch Wholesaling in the US
- Jewellery and Watch Wholesaling in Australia
- Watch & Jewellery Wholesaling in the UK
Table of Contents
About this industry
Industry definition
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.
What's included in this industry?
Precious metalsDiamondsCostume jewelleryWatchesClocksSilverwareGold jewelsBrassCopperCompanies
Sindbad Inc.Canadian Gem PA Inc.Purchase this report to view all 2 major companies in this industry.
Related Terms
WHOLESALE BYPASSCULTURED PEARLCANADIAN EFFECTIVE EXCHANGE RATE INDEXIndustry Code
NAICS 414410 - Jewellery & Watch Wholesaling 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
Shifting consumer behaviours and swelling e-commerce competition have curbed jewellery and watch sales. To stay competitive, wholesalers are adjusting business models to embr...
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
Demand for diamonds and precious metals has surged as consumers hold tight to safe-haven assets. The COVID-19 pandemic and more recent inflationary pressures have crushed con...
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
Ontario holds a dominant position as Canada's jewellery and watch wholesale hub. The province benefits from its substantial population and its geographical location, which is...
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
Price is the main competitive factor in Canada’s Jewellery and Watch Wholesaling industry. Product differentiation often comes down to quality, design and the value of the pr...
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
Canada’s Jewellery and Watch Wholesaling industry has no major companies. Most wholesalers function on a small scale serving local markets, with few companies operating natio...
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 Sindbad Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Canadian Gem PA Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
Detailed analysis
- Description and key data for Sindbad Inc., and factors influencing its performance in the industry
- Description and key data for Canadian Gem PA Inc., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Tariffs on imported jewellery products in Canada indirectly support domestic wholesalers by increasing the cost of imported items. By imposing a tariff of up to 8.5% on imita...
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
Jewellery and watch wholesalers have sustained profit despite fluctuations in commodity prices and unpredictable economic conditions. Cutting rent and purchase costs has help...
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 & Watch Wholesaling industry in Canada in 2024?
The market size of the Jewellery & Watch Wholesaling industry in Canada is $3.6bn in 2024.
How many businesses are there in the Jewellery & Watch Wholesaling in Canada industry in 2023?
There are 834 businesses in the Jewellery & Watch Wholesaling industry in Canada, which has declined at a CAGR of 4.2 % between 2018 and 2023.
Has the Jewellery & Watch Wholesaling industry in Canada grown or declined over the past 5 years?
The market size of the Jewellery & Watch Wholesaling industry in Canada has been declining at a CAGR of 6.0 % between 2018 and 2023.
What is the forecast growth of the Jewellery & Watch Wholesaling industry in Canada over the next 5 years?
Over the next five years, the Jewellery & Watch Wholesaling industry in Canada is expected to grow.
What are the biggest companies in the Jewellery & Watch Wholesaling market in Canada?
The biggest companies operating in the Jewellery & Watch Wholesaling market in Canada are Sindbad Inc. and Canadian Gem PA Inc.
What does the Jewellery & Watch Wholesaling in Canada include?
Precious metals and Diamonds are part of the Jewellery & Watch Wholesaling industry.
Which companies have the highest market share in the Jewellery & Watch Wholesaling in Canada?
The company holding the most market share in Canada is Sindbad Inc..
How competitive is the Jewellery & Watch Wholesaling industry in Canada?
The level of competition is high and steady in the Jewellery & Watch Wholesaling industry in Canada.
