A recent article in La Tribune was devoted to the men's jewelery market. The French economic daily has painted an inventory of this sector which is doing well, whereas previous decades had confined it to confidentiality.
A new era
The men's jewelry market is changing. It's an open secret that men are paying more and more attention to their look. If the man of the 21st century pays more attention to the choice of his clothes and his shoes, he also accessorizes. It is now quite common to see a man wearing a bracelet on his wrist or a necklace on his neck. However, have we reached the peak of this sector's growth? The paper looked at statistics in an attempt to answer this question.
The men's jewelry market in France
With the increase in demand for men's jewelry in France, there has been a proliferation of companies specializing in their manufacture, as well as in points of sale. In the past, very little marketing effort was made to convince these gentlemen to wear necklaces, bracelets, buckles, etc.
When it comes to luxury men's jewellery, the most active age group in this market, 25-45 year olds, prefers to go to the store rather than buy online in order to be able to check the quality of the products offered. They prefer to pay more to benefit from this guarantee. But thanks to the growth of the sector, e-commerce still shows an overall and annual increase in sales of 20%.
It is mainly at the end of the year that sales take place, especially for signet rings and bracelets.
According to a Xerfi study, the men's jewelry market represents the following figures:
- In 2016, sales (including watches) of 5.6 billion euros
- Online and mail order sales: 18% market share
- Nearly 9,000 points of sale in France
These gentlemen's favorite products
Besides wedding bands and signet rings, bracelets, chains and buckles are the most popular men's jewellery. In terms of materials, silver and white gold are the most popular. If yellow gold dominated before, this metal must give way to the benefit of its competitors. In the field of luxury jewelry, it is the big houses that dominate the market, thanks to their large advertising budgets and the strategic location of their points of sale.
Men's jewelry: are we heading towards market saturation?
According to La Tribune, the luxury men's jewelery market is not yet saturated, it is quite simply lively. Demand continues to grow, but competition also with the constant arrival of new players on the market, or the competitive supply of outsiders who wish to position themselves thanks to their aggressive pricing policy.