III. Industry Analysis
[Company Name] competes against small, individually owned jewelry shops and major regional or national chains. The market size, measured by revenue, of the Jewelry Stores industry, is $33.9 billion. The market size of the Jewelry Stores industry in the US has grown 0.1% per year on average over the last five years. The market is expected to continue to grow annually by 3.3%.
There is a rising trend in the consumption of jewelry as more people are inclined to purchase luxury products due to favorable economic conditions. The average household income is expected to continue to climb over the next five years.
