Editor’s Note
The latest sectoral analysis indicates robust growth for Spain’s jewelry and watch retail market, with provisional 2025 turnover surpassing €2.1 billion. This reflects a continuation of the positive trend observed in recent years.
The recently published report “Distribution of Jewelry and Watches” by the DBK-INFORMA Sectoral Observatory, a leading economic-sector analysis reference in Spain, paints a positive picture for the retail trade of jewelry, costume jewelry, and watches. With provisional figures covering the 2025 fiscal year, the sector has maintained an upward trend initiated in previous years and closed the year with a total turnover exceeding 2.1 billion euros, representing growth of nearly 6% compared to the previous year, according to data compiled by the study.
This increase, consistent with the evolution observed in 2024—when the market reached 2.02 billion euros and similar year-on-year growth—confirms the strength of private demand and the persistence of the upward price trend, factors that have supported the sector’s dynamism despite global economic uncertainties.
The DBK-INFORMA analysis also reveals important structural aspects of the sector. Specialized chains consolidate their dominant position, concentrating approximately 60% of the market, with estimated sales around 1.21 billion euros, a year-on-year growth of approximately 6.6%.
Meanwhile, independent commerce has seen its market share reduced19%, while large retail stores and other channels represent nearly 21% of total sales. This evolution reflects a consolidation of the sector with a greater presence of larger operators, aligned with concentration trends also observed in other retail segments.
Regarding segmentation by product type, jewelry and costume jewelry items continue to dominate sales, concentrating around 56% of the total market, while watch products represent approximately 39%, with the rest of the offer (mainly silverware and accessories) reaching around 5%.
Number of points of sale: 8,700
Market (million euros):
· 2023: 1,900
· 2024: 2,020
· 2025 (p): 2,135
Market distribution by type of operator (%), 2024:
· Specialized chains: 59.9%
· Independent stores: 19.1%
· Large retail stores and others: 21.0%
Market growth:
· % change 2023/2022: +8.6%
· % change 2024/2023: +6.3%
· % change 2025/2024 (p): +5.7%
Concentration (joint market share in value), 2024:
· Top five companies (%): 42.6%
· Top ten companies (%): 57.2%
Source: DBK Sectoral Observatory of INFORMA (subsidiary of Cesce).
The study goes beyond the numbers and outlines some of the key trends shaping the sector’s evolution. The progressive reduction in the number of independent stores—which at the end of 2024 stood at around 8,700 specialized points of sale—points to a transformation of the commercial landscape, partially offset by the expansion of specialized chains and online platforms.
Furthermore, the report offers a detailed analysis of economic and financial indicators, commercial risks, and short- and medium-term evolution forecasts, providing companies and analysts with a solid basis for planning growth strategies, investment, and adaptation to consumer preferences.
The “Distribution of Jewelry and Watches” study by DBK-INFORMA thus stands as a reference tool for understanding the recent dynamics of one of the most emblematic traditional sectors of Spanish retail, which continues to show resilience and the ability to adapt to a changing economic environment.