ColumnistsJun 03, 2026
Peter Smith: When Top Talent Leaves and What It Says About YouSmith discusses how managers should handle a top performer's exit, warning that a poor response could have a lasting impact.
SurveysJun 22, 2017
Report: Luxury Continues to Underperform in the US
Though sales of luxury goods are expected to grow globally, the U.S. market is grappling with ongoing political uncertainty and struggling department stores, Bain & Co. said.
Milan--The luxury market is expected to get back to growth this year as Chinese spending and consumer confidence in Europe return.
According to management consulting firm Bain & Co., the global personal luxury goods market is predicted to grow in the range of 2 to 4 percent (at constant exchange rates) in 2017, from $284 billion to $290 billion.
The company’s “Worldwide Luxury Monitor 2017 Spring Update” indicates that watches and jewelry are maintaining momentum and while watch sales are down right now, they will soon recover.
However, in the Americas, the study states, the U.S. luxury market “continues to underperform.” A strong dollar, ongoing political uncertainty and struggling department stores have combined to create uncertainty for the country this year, with the market expected to be between a 2 percent decline or flat in 2017.
Meanwhile, Latin America is supported by some local consumption and Canada is poised to slow down--luxury sales there are expected to range between flat and a 2 percent decline.
Europe is still recovering from a decline in tourism last year and is regaining confidence among local consumers, with Spain and the U.K. standing out as bright spots. Bain has forecasted growth of between 7 and 9 percent at constant exchange rates for the region.
Mainland China also is rebounding as its local consumers continue to show a preference for buying luxury goods, driving an expected 6 to 8 percent growth. Chinese tourists also will continue to account for a large portion of international luxury purchases.
While Japan remains a positive market for luxury brands, the environment for the rest of Asia is still difficult: Hong Kong, Macau and Singapore might be improving, but Taiwan and Southeast Asia are facing decreased tourism.
The rest of the world is expected to be flat or see only slight growth of 2 percent.
In its update on the luxury market, Bain also addressed a number of key topics that will drive the luxury market this year, including the following.
1. The U.S. market’s landscape. Even though it’s still the largest market for personal luxury goods, the combined effects of a slowdown in tourism, unsettled political climate and challenging outlook for department stores mean that brands have to have “an impeccable strategy and execution” to survive.
2. The digital and off-price winners. Digital continues to reshape the luxury industry, with Bain indicating it expects online sales to be the leading
channel with the highest growth in the coming years, followed by off-price stores.
3. Millennial shopping habits. The inclusion of this likely surprises no one, as the “millennial state of mind” requires that brands better cater to their needs because it is this generation that has increasing buying power. In fact, millennials and Gen Z--the generation that follows the millennials and the oldest of whom are about 22 right now--will represent 45 percent of the global personal luxury goods market by 2025.
3. Millennial shopping habits. The inclusion of this likely surprises no one, as the “millennial state of mind” requires that brands better cater to their needs because it is this generation that has increasing buying power. In fact, millennials and Gen Z--the generation that follows the millennials and the oldest of whom are about 22 right now--will represent 45 percent of the global personal luxury goods market by 2025.
More on Surveys
The Latest
GradingJun 03, 2026
GIA’s Tracr Investment Is First Step Toward Industry-Owned PlatformThe Gemological Institute of America is now a 30 percent stakeholder in Tracr, the De Beers-backed blockchain for diamonds.
WatchesJun 03, 2026
The 1916 Company Taking Pre-Owned Rolexes on the Road, AgainThe retailer is bringing Rolex Certified Pre-Owned watches to five U.S. cities in 2026 for collectors to see, try on, and purchase.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
IndependentsJun 03, 2026
Jessica Alba Is the New Face of Gabriel & Co.The actress and entrepreneur stars in the jeweler’s new campaign that celebrates life’s quiet moments.
Weekly QuizMay 28, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsJun 03, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
FinancialsJun 02, 2026
Signet Jewelers’ Q1 Sales Up 2% As It Focuses on ‘Core Four’ The jewelry retailer is zeroing in on Zales, Jared, Kay Jewelers, and Blue Nile as it looks to create unique brand identities for each.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
SourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.
WatchesJun 02, 2026
Watch Industry Veteran James Marks Joins Sotheby’sSotheby’s has appointed the former Phillips executive as its global head of private sales and retail in its watches division.
AuctionsJun 02, 2026
Sotheby’s to Auction 10-Carat Blue Diamond, 1960s Harry Winston Necklace A private collection of five Paraíba tourmalines also will be up for sale at Sotheby’s High Jewelry auction in New York, scheduled for June 16.
IndependentsJun 02, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Events & AwardsJun 01, 2026
Design Atelier Brands Have a Big Night at Emotional Couture Design AwardsThe show started by honoring Mildred Marcano, ended with a tearful Beth Anne Bonanno, and recognized a dozen-plus designers in between.
SourcingJun 01, 2026
RapNet Rebranding as Rapaport TradeThe revamped online diamond marketplace will feature pricing intelligence and data-driven tools for more efficient buying and selling.
SourcingJun 01, 2026
Gemfields’ Higher-Quality Emerald Auction Achieves $26.8MThe miner said demand for higher-quality emeralds is stable, but there is notable caution in the market.
CollectionsMay 29, 2026
Cultus Artem’s Necklace Is the Oasis in Las Vegas’ DesertThe “River of Heaven” necklace, our Piece of the Week debuting at Couture, combines 26 salt and pepper diamonds spaced by Tahitian pearls.
IndependentsMay 29, 2026
Meet the 2026 Retailer Hall of Fame InducteesThis year’s inductees include second-, third-, and fourth-generation jewelers.
Events & AwardsMay 28, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerThe author, speaker, and entrepreneur will give his presentation, “Spiritual Billionaire,” on Saturday morning.
Events & AwardsMay 28, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach on Sunday night.
MajorsMay 28, 2026
Signet Jewelers to Buy The Clear Cut Signet will integrate the online-only, natural diamond-focused jeweler into Blue Nile, which it wants to position as a higher-end retailer.
CollectionsMay 28, 2026
Meet The 17 Newcomers to Couture’s Design AtelierThese up-and-coming jewelry brands are bringing their distinct aesthetic and unique point-of-view to the Design Atelier for the first time.
GradingMay 28, 2026
GCAL By Sarine Launches 8X Cushion CutThe lab’s proprietary diamond cut grade has been expanded to include the popular fancy shape.
Events & AwardsMay 27, 2026
5 Security Tips for Las Vegas Jewelry Market Week 2026This year, it’s what could happen outside of show hours that worries JSA Executive Vice President Scott Guginsky.
ColumnistsMay 27, 2026
What Jewelers Can Learn From Luxury Fashion’s Digital PlaybookHigh-end fashion houses know how to emotionally connect with customers online. Retail jewelers should take note, Emmanuel Raheb writes.
Events & AwardsMay 27, 2026
Couture’s ‘The Iridescence’ Will Showcase 7 Emerging Jewelry DesignersThe designers are the third cohort of mentees from the show’s Belonging @ Couture mentorship program.
ColumnistsMay 26, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
Events & AwardsMay 26, 2026
12 JCK Talks Sessions to Add to Your Las Vegas ScheduleThe trade show’s education series returns, with sessions on retail trends, AI, watches, marketing, corporate responsibility, and more.
