logo
logo
AI Products 

The U.S. Costume Jewelry Market Experiencing Growth through Customization Trends

avatar
Pooja salve
The U.S. Costume Jewelry Market Experiencing Growth through Customization Trends

The U.S. costume jewelry market is a multibillion-dollar industry offering fashionable yet affordable jewelry options to consumers. Costume jewelry, also known as fashion jewelry, includes jewelry items made from non-precious materials such as glass, plastic, and metals like brass. These pieces are designed as affordable alternatives to genuine gold, silver, and diamond jewelry. Costume jewelry products such as necklaces, earrings, bracelets, and anklets provide aesthetically pleasing ornamental accessories to complete an outfit. The variety in designs, materials, and price points enables customers to experiment with different styles as per their tastes and budgets.

The U.S. Costume Jewelry Market is estimated to be valued at US$ 19.3 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 to 2031. Key Takeaways Key players operating in the U.S. Costume Jewelry market include Chanel S.A, Guess Inc., Gianni Versace S.p.A, Alex and Ani, LLC, Pandora A/S, LVMH Mo&et Hennessy Louis Vuitton SE, Hermes International SA, Hennes and Mauritz Ab, ZARA ESPANA SA, and Gucci. These top players account for a major share of the overall market revenue. The U.S Costume Jewelry Market Demand has been increasing owing to rising fashion consciousness among consumers and their growing willingness to experiment with different styles. Costume jewelry provides affordable jewelry options that can be worn daily or for casual occasions without hassle. Mass availability through multiple retail channels has further boosted the market reach. The market players are also expanding globally through strategic partnerships and rising e-commerce sales. Online shopping has made costume jewelry accessible to customers across the world. Increasing exports are instrumental in the global expansion of the U.S. costume jewelry industry. Market Key Trends The growing customization trend is one of the key drivers of the U.S. costume jewelry market. U.S Costume Jewelry Market Companies allow customers to customize and personalize jewelry pieces as per their preferences when it comes to colors, designs, materials used etc. This has opened avenues for unique one-of-a-kind jewelry pieces. Many companies also provide bulk customization options to businesses. The customization trend coupled with rising fashion consciousness among consumers has significantly boosted the costume jewelry industry in recent years.

Porter's Analysis Threat of new entrants: Low startup costs allow new players to enter the market easily. However, established players have strong brand recognition and supply chain advantages. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and branded jewelry. However, affordable price points of costume jewelry attract price-sensitive buyers. Bargaining power of suppliers: Suppliers have low bargaining power due to availability of raw material sources and focus on maintaining long-term relationships. Threat of new substitutes: Threat is moderate as close substitutes like precious metals jewelry and fashion accessories are available. However, costume jewelry offers affordability. Competitive rivalry: Intense as major players compete on innovation, design, and partnership with fashion brands. The U.S. costume jewelry market is highly concentrated in coastal regions like Northeast and West Coast owing to higher disposable incomes and fashion consciousness. New York, Chicago, Los Angeles, Miami and San Francisco account for over 40% of the market value due to density of jewelry retailers, fashion shows and jewelry wholesale hubs attracting local and international buyers. Coastal metropolitan areas also have a significant tourist inflow boosting jewelry impulse purchases. The South region of the U.S. is witnessing the fastest value growth in the costume jewelry market driven by rising affluence. States like Texas, Florida and Georgia exhibit over 7% year-on-year value growth owing to economic and population boom. The young demographic profile with higher spending on fashion and accessories also contributes to market expansion. Infrastructure investments are inviting new fashion labels and jewelry chains in the South. Increased e-commerce penetration as well as multi-brand Pop-Up stores are helping manufacturers to tap new customer segments beyond tier-1 cities, propelling future market gains.

Choose preferred language for better understanding-

Japanese Korean

About Author-

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )

collect
0
avatar
Pooja salve
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more