The costume jewelry market - Germany (2023)

1.1 Introduction

The costume jewelry market includes various types of jewelry such as necklaces, earrings, bracelets, and rings. These products are offered at highly competitive prices to meet the needs of most jewelry customers.

The costume jewelry global market is growing at an annual rate of about 4%. It is a highly developed market in which competition is fierce. Costume jewelry is not expensive to produce, as the materials that are used to produce costume jewelry are often pretty cheap. As a result, many new companies can enter the market, hence competition in this market has been intensifying. The customers in this market go from children to elderly people. They are all looking for an accessory that will enhance their outfit without spending a lot of money.

Culturally, German consumers are used to always maximizing value for money when buying a product. The materials used to make these items can be of high quality despite the low price. Therefore, this is a market that fully meets the German requirements:

• Quality,
• At a low price.

Well-known local and international brands such as Bijou and Pandora are present in the German market. However, new companies are managing to reach a younger target group through aggressive advertising campaigns on social networks. This is particularly true of PDPAOLA, which offers good quality pendants at an attractive price.