Online jewelry sales grew a modest 13.2% in 2019, more than five percentage points behind the 18.9% growth Digital Commerce 360 Top 1000 retailers achieved as a whole.
The 45 jewelry retailers in Digital Commerce 360’s Top 1000 ranking of North America’s largest online retailers generated $5.95 billion in online sales. This represented 17.9% of total U.S. retail sales in the jewelry category, up from 15.8% in 2018.
The jewelry category includes three subcategories: fashion jewelry, fine jewelry and watches. Fine jewelry, which includes retailers selling high-end luxury jewelry such as engagement rings, represent four of the five largest retailers in the category.
The fifth largest jewelry retailer in the Top 1000, Tiffany & Co., announced its sale to luxury goods heavy hitter LVMH Moët Hennessy Louis Vuitton SE in late 2019; they finalized the sale in January 2021.
“Tiffany is an iconic brand and a quintessential emblem of the global jewelry sector,” Bernard Arnault, chairman and CEO of LVMH, wrote in a statement in January 2021. “…We are optimistic about Tiffany’s ability to accelerate its growth, innovate and remain at the forefront of our discerning customers’ most cherished life achievements and memories.”
The two largest online jewelry retailers represent 23.3% of the entire category’s online sales. Signet Jewelers Ltd. and Richline Group’s total 2019 web sales were over $1.39 billion.
The largest online jewelry retailers are:
- Signet Jewelers Ltd. (No. 80)
- Richline Group (No. 91)
- Blue Nile Inc. (No. 108)
- Jomashop.com (No. 119)
- Tiffany & Co. (No. 159)
However, none of the top five jewelry retailers made the cut as the fastest-growing retailers in the category. This distinction is reserved for those retailers that increased online sales 19.0% to a staggering 500.0% in 2019.