Jewelry consists of small decorative items worn for personal adornment, such as brooches, rings, necklaces, earrings, and bracelets. Jewelry may be attached to the body or the clothes, and the term is restricted to durable ornaments, excluding flowers. For many centuries metal, often combined with gemstones, has been the most used material for jewelry, but other materials such as shells and other plant materials may be used. The most common forms of jewelry listed above have persisted since ancient times.
The U.S. jewelry market has been an ever growing market due to the higher concentration of major jewelry brands in the country, increasing female population and their workforce, improving incomes of individuals, and rapid urbanization. In future, the market would continue to grow due to women empowerment, increasing practice of self-purchase among women, and favorable demographics. The market also gains significant sales value and volume through international tourists. However, the strengthening of US dollar is restricting the international tourists to purchase jewelry in the U.S.
Diamond jewelry, especially diamond ring, is gaining high popularity among women. Gifting diamonds is becoming a trend in the nation. Increasing demand for multi-diamond jewelry pieces is likely to drive the diamond jewelry market in the U.S.
The U.S. jewelry market is fragmented in nature with four major players: Tiffany and company, Richemont, LVMH, and Signet Jewelers. Signet is emerging as a tough competitor through its subsidiaries: Kay Jewelers, Zales and Sterling Jewelers. Tiffany and Company is also gaining a major share of the market. There also exist several small jewelry companies.