RETAIL SALES OF JEWELRY, WATCHES AND ACCESSORIES IN CANADA EXPECTED TO REACH C$7.7 BILLION BY 2020
Retail sales of jewelry, watches, and accessories in Canada are forecast to reach a market value of C$7.7 billion (US$5.8 billion) by 2020, according to a new detailed sector report that provides a comprehensive analysis of the emerging trends, forecasts and opportunities for the coming years.
The outlook for the jewelry, watches, and accessories market, which together account for 1.82% of the total retail sales in Canada, will remain positive over the forecast period, according to the ‘Jewelry, Watches and Accessories Retailing in Canada – Market Summary and Forecasts’ report.
The report, which assesses sales of jewelry, watches and accessories via all channels including luxury goods specialists, department stores, online and duty free retailers, expects per capita spending on jewelry, watches, and accessories in Canada to show growth of 3.47% over the next five years.
As for online sales, these sales accounted for 8.9% of the total sales in the sector in 2015 and are expected to reach 14.8% by 2020, finds the report.