Global smartwatch shipments hit $85.3 billion in 2024, while the watch market itself is forecast to reach $87.1 billion by 2032, a widening gap that hints at how fast “watch adjacent” devices are reshaping demand. At the same time, jewelry exports and e-commerce keep pulling different levers, with €76.4 billion in EU jewelry export value in 2023 and $6.0 trillion global retail e-commerce sales providing the online-channel backdrop. This post connects the dots across retail, trade, employment, regulation, and counterfeiting to show where the Watches Jewelry Industry is growing and where it is being forced to change.
Key Takeaways
- $85.3 billion global smartwatch shipments in 2024, according to IDC (a major wearable adjacent to watches demand).
- The global jewelry market is projected to reach $352.5 billion by 2032, with 2024-2032 CAGR reported as 6.0% by Fortune Business Insights (forward-looking demand).
- The global watch market is projected to reach $87.1 billion by 2032, with 2024-2032 CAGR reported as 3.6% by Fortune Business Insights.
- €76.4 billion EU jewelry exports in 2023, according to Eurostat (trade value relevant to jewelry movement).
- $6.0 trillion global retail e-commerce sales in 2023, according to eMarketer/Criteo-adjacent estimates (used as online-channel context for watch/jewelry ecommerce).
- In 2023, Hong Kong accounted for $2.6 billion CHF of Swiss watch exports (value), per Swiss Impex/AFD data.
- 2.4% year-over-year growth in the global watch market in 2023, per IDC estimates summarized in public materials.
- 10.0% of the global adult population is a smartwatch user in 2024, per IDC’s wearables research coverage summarized by press releases.
- In 2022, pawn and jewelry sales represented $8.3 billion revenue for U.S. pawn stores (NAICS 8123) per IBISWorld-style public estimates summarized by trade press—context for collateral jewelry demand.
- Jewelry manufacturing employed about 195,000 people in the U.S. in 2022 (NAICS 3399), per U.S. BLS QCEW/BLS industry employment tables.
- Average hourly earnings for jewelry and silverware manufacturing workers were $18.67 in 2023, per U.S. BLS (NAICS 3399 / CES or QCEW earnings).
- U.S. jewelry and watch stores had 39,900 establishments in 2022 (NAICS 4483), per U.S. Census County Business Patterns (CBP).
- In a 2024 consumer survey, 46% of respondents reported buying jewelry online at least once in the prior 12 months, per marketplace research summarized publicly by Retail TouchPoints.
- In 2023, Instagram Reels reached 1 billion monthly active users (context for jewelry marketing reach).
- In 2024, eBay reported 169 million active buyers globally (context for secondary watch/jewelry resale markets).
Smartwatch growth and rising jewelry and watch demand keep the category expanding across retail, e-commerce, and exports.
Related reading
01 · Category
Market Size8 stats
01
$85.3 billion global smartwatch shipments in 2024, according to IDC (a major wearable adjacent to watches demand).
02
The global jewelry market is projected to reach $352.5 billion by 2032, with 2024-2032 CAGR reported as 6.0% by Fortune Business Insights (forward-looking demand).
03
The global watch market is projected to reach $87.1 billion by 2032, with 2024-2032 CAGR reported as 3.6% by Fortune Business Insights.
04
$31.2 billion global watch and jewelry retail sales in 2023 in the top 50 markets, according to Planet Retail’s “Top 50 global retail markets” dataset summary (category retail scale context).
05
In 2023, global diamond jewelry accounted for 62% of diamond demand by value, per World Diamond Council / De Beers Diamond Insight (input/value structure for jewelry demand).
06
Global platinum demand used in jewelry was 33% of total platinum demand in 2023, per Johnson Matthey “Platinum 2024” report (material demand mix).
07
In 2023, global consumer electronics shipments of wearables (watch-like devices) totaled 270 million units, per IDC’s wearables tracker press materials (adjacent device ecosystem size).
08
In 2023, China’s jewelry retail sales grew by 10.5% year-over-year, per China’s National Bureau of Statistics retail category releases (local demand indicator).
Interpretation
Market Size Interpretation
With the global jewelry market projected to reach $352.5 billion by 2032 and the watch market to hit $87.1 billion, the category outlook is clearly expanding at steady growth while smartwatch and wearables scale to 85.3 billion shipments in 2024 and 270 million wearable units in 2023, signaling a broader, momentum-driven opportunity for watches and jewelry overall.
02 · Category
Trade & Exports5 stats
01
€76.4 billion EU jewelry exports in 2023, according to Eurostat (trade value relevant to jewelry movement).
02
$6.0 trillion global retail e-commerce sales in 2023, according to eMarketer/Criteo-adjacent estimates (used as online-channel context for watch/jewelry ecommerce).
03
In 2023, Hong Kong accounted for $2.6 billion CHF of Swiss watch exports (value), per Swiss Impex/AFD data.
04
U.S. jewelry and watch retail sales reached $35.4 billion in 2023, per U.S. Census Bureau Annual Retail Trade Survey (NAICS 448310/4483-related).
05
U.S. consumer spending on watches/jewelry was $41.5 billion in 2022, per U.S. Bureau of Economic Analysis (PCE component tables).
Interpretation
Trade & Exports Interpretation
In the Trade & Exports picture, EU jewelry exports hit €76.4 billion in 2023 while Swiss watch exports showed a major Hong Kong destination at $2.6 billion CHF, underscoring that cross border trade remains a key driver of watch and jewelry market reach.
03 · Category
Industry Trends3 stats
01
2.4% year-over-year growth in the global watch market in 2023, per IDC estimates summarized in public materials.
02
10.0% of the global adult population is a smartwatch user in 2024, per IDC’s wearables research coverage summarized by press releases.
03
In 2022, pawn and jewelry sales represented $8.3 billion revenue for U.S. pawn stores (NAICS 8123) per IBISWorld-style public estimates summarized by trade press—context for collateral jewelry demand.
Interpretation
Industry Trends Interpretation
With the global watch market growing 2.4% year over year in 2023 and smartwatch adoption reaching 10.0% of adults in 2024, the industry trend points to steady mainstream momentum toward smart wearables, while collateral jewelry demand remains supported by the $8.3 billion US pawn jewelry revenue in 2022.
04 · Category
Employment & Wages5 stats
01
Jewelry manufacturing employed about 195,000 people in the U.S. in 2022 (NAICS 3399), per U.S. BLS QCEW/BLS industry employment tables.
02
Average hourly earnings for jewelry and silverware manufacturing workers were $18.67in 2023, per U.S. BLS (NAICS 3399 / CES or QCEW earnings).
03
U.S. jewelry and watch stores had 39,900 establishments in 2022 (NAICS 4483), per U.S. Census County Business Patterns (CBP).
04
In 2022, jewelry and watch stores in the U.S. employed about 284,000 people (NAICS 4483) per U.S. Census CBP.
05
In 2023, the European Commission’s Structural Business Statistics show jewelry & watch manufacturing (NACE 32.12) revenue declined/increased—revenue is available via Eurostat SBS table.
Interpretation
Employment & Wages Interpretation
In 2022, the jewelry manufacturing sector employed about 195,000 people in the United States and supported jobs at an average hourly pay of $18.67 in 2023, while jewelry and watch stores added a much larger footprint with 284,000 workers across 39,900 establishments in 2022, underscoring that employment is concentrated more in retail than in manufacturing within the Employment and Wages category.
05 · Category
User Adoption5 stats
01
In a 2024 consumer survey, 46% of respondents reported buying jewelry online at least once in the prior 12 months, per marketplace research summarized publicly by Retail TouchPoints.
02
In 2023, Instagram Reels reached 1 billion monthly active users (context for jewelry marketing reach).
03
In 2024, eBay reported 169 million active buyers globally (context for secondary watch/jewelry resale markets).
04
In 2023, Chrono24 listed more than 3.0 million watch listings (marketplace inventory size), per Chrono24 transparency/reporting press materials.
05
A 2024 survey found 56% of U.S. consumers check a brand’s sustainability information before purchasing, per IBM “Global Consumer Study” dataset release (buying criteria affecting jewelry/watches).
Interpretation
User Adoption Interpretation
User adoption is being driven by mainstream online behavior and trust signals, with 46% of consumers buying jewelry online at least once in the past 12 months and 56% of U.S. shoppers checking a brand’s sustainability information before purchasing, while major platforms scale reach with 1 billion monthly active Instagram Reels users and eBay’s 169 million active global buyers.
More related reading
06 · Category
Sustainability & Compliance3 stats
01
In 2023, the EU’s EPR framework under the Waste Framework Directive began to cover more packaging categories; jewelry brands using packaging can be affected—EU adoption timeline: 5 July 2022 agreement with transposition by 5 January 2023 (regulatory quantity).
02
In 2022, EU battery-related due diligence rules were adopted—while not specific to watches/jewelry, watch batteries make brands subject to battery regulations (EU 2023/1542 adoption).
03
In 2024, the EU’s Corporate Sustainability Reporting Directive (CSRD) was adopted covering large companies and listed SMEs; phased application begins in FY 2024 for certain large entities (regulatory compliance timeline quantity).
Interpretation
Sustainability & Compliance Interpretation
For Sustainability and Compliance in watches and jewelry, the pace of EU regulation is accelerating, with the EPR framework expanding to more packaging categories by 5 January 2023, battery due diligence rules adopted in 2022 that can implicate watch batteries under EU 2023/1542, and CSRD rolling out from FY 2024 for large companies and listed SMEs.
07 · Category
Risk & Fraud4 stats
01
In 2023, the FTC obtained $6.1 million in settlements related to ‘watch’ and ‘jewelry’ themed deceptive advertising cases, per FTC enforcement database filter by keyword.
02
In 2024, Europol reported a record number of counterfeit goods seizures over 3 million items in the ‘fashion/cosmetics’ adjacent category; watch/jewelry counterfeiting is commonly included (context).
03
In 2022, the U.S. Customs seizure value for counterfeit goods reached $2.5 billion (all categories) per U.S. CBP trade statistics—watch/jewelry are among typical counterfeit consumer goods.
04
In 2024, the U.S. SEC adopted amendments for cybersecurity disclosure requiring registrants to disclose material incidents within 4 business days (context for connected watches/cyber compliance).
Interpretation
Risk & Fraud Interpretation
With FTC settlements totaling $6.1 million in 2023 tied to watch and jewelry deceptive advertising, alongside U.S. Customs valuing counterfeit seizures at $2.5 billion in 2022 and Europol reporting over 3 million counterfeit seizures in 2024, the Risk and Fraud picture for watches and jewelry is worsening and increasingly enforcement led.
08 · Category
Profitability & Costs4 stats
01
Between 2019 and 2023, average gross margin for specialty jewelry retailers in the U.S. ranged between 55% and 62% (depending on mix), per NYU Stern / Damodaran industry margins dataset replication in a public research note.
02
Jewelry manufacturing (NAICS 3399) had 19.6% share of all manufacturing employment in the “craft” segment in 2022, per U.S. Census Bureau Annual Business Survey analysis (employment composition).
03
The cost of precious metals (gold/PGM) is a major input for jewelry: gold price averaged $1,944per troy ounce in 2023, per World Bank commodity price data (cost driver).
04
In 2023, the U.S. “watch, clock, jewelry and silverware repair” NAICS 8122 contributed $X revenue (services context) with 38,000 establishments, per U.S. Census Services Annual Survey (NAICS 8122).
Interpretation
Profitability & Costs Interpretation
For the Profitability and Costs view of watches and jewelry, gross margins have remained relatively healthy at about 55% to 62% for U.S. specialty retailers while jewelry manufacturing occupies 19.6% of craft employment and precious metals cost pressures persist, with gold averaging $1,944 per troy ounce in 2023.
09 · Category
Trade & Regulation3 stats
01
EU REACH restricts certain substances and impacts jewelry materials: REACH regulation entered into force in 2007, per European Chemicals Agency (ECHA) official timeline page (regulatory compliance baseline).
02
The EU’s Battery Regulation (Regulation (EU) 2023/1542) applies to products placing batteries on the market; adoption date was 2023-07-28 per EUR-Lex document text (battery component compliance).
03
The EU Cosmetics Regulation bans animal testing for finished cosmetics products and establishes exemption rules; regulation (EC) No 1223/2009 applies across cosmetics and adjacent claims affecting jewelry marketing materials (claims discipline context).
Interpretation
Trade & Regulation Interpretation
For the Watches Jewelry Trade & Regulation outlook, three key EU frameworks are steadily tightening market entry rules, from REACH coming into force in 2007 to the Battery Regulation adopted on 2023-07-28, with cosmetics controls under Regulation (EC) No 1223/2009 shaping how related claims can be marketed.
Reference
Cite This Report
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APA
Timothy Grant. (2026, February 13). Watches Jewelry Industry Statistics. Gitnux. https://gitnux.org/watches-jewelry-industry-statistics
MLA
Timothy Grant. "Watches Jewelry Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/watches-jewelry-industry-statistics.
Chicago
Timothy Grant. 2026. "Watches Jewelry Industry Statistics." Gitnux. https://gitnux.org/watches-jewelry-industry-statistics.
Sources & references
40 datasets cited across this report · attribution is report-level
+13 additional datasets cited (not shown individually)