Online Jewelry & Watches UK: Market Revenue & Top Stores

Online Jewelry & Watches UK: Key Insights 

• Top 5:

  Pandora.net dominates the UK's online jewelry and watch market in 2023, significantly outperforming its competitors in both domestic and international revenues.

• Historical Rankings:

  Pandora.net, Watchfinder.co.uk, and Hsamuel.co.uk consistently dominate the top spots, while the rapid ascents of Warrenjames.co.uk and Monicavinader.com highlight their remarkable growth and market impact.

• Market Trajectory: The market has experienced significant growth over the last decade, with a notable pandemic-induced surge in 2020, followed by a slight dip in 2022, before stabilizing and projecting continued growth up to US$6.53 billion by 2028.

In the UK's online jewelry and watches market, established brands and emerging players are carving distinct niches for themselves. Leading entities like Pandora are solidifying their market presence, while dynamic entrants such as Monica Vinader are rapidly ascending the ranks.

Providing a snapshot of the sector's current dynamics, our exploration offers insights into the evolving competition in the market, as well as the future developments the sector is projected to display.

Top 5 Jewelry & Watches Stores in the UK: A Closer Look 

Before we go further, it's important to emphasize that while giants like Amazon may have significant sales in this market, our focus here is on those eCommerce platforms that have wholly tailored their business model to the sale of these specific items.  

As per 2023 numbers, the foremost five online stores specializing in Jewelry & Watches within the UK eCommerce sector are pandora.net, watchfinder.co.uk, hsamuel.co.uk, warrenjames.co.uk and monicavinader.com.

Pandora.net leads the pack with a revenue of US$123.5 million in 2023. Close on its heels was watchfinder.co.uk with revenues amounting to US$59 million, followed by hsamuel.co.uk which garnered sales of US$46.5 million. Warrenjames.co.uk takes the fourth spot with US$39.5 million generated in 2023, while monicavinader.com follows closely with US$39.4 million. 

1) Pandora  

Holding the second position in the the global market, pandora.net is the top player in the UK market. Pandora A/S, the Danish jewelry manufacturer and retailer established in 1982, runs the internationally-oriented online store, which was launched in 2015. 

With its headquarters in Denmark, Pandora A/S manages several online platforms, including pandora.net, pandorajoias.com.br, and pandorashop.gr. In 2022, eCommerce net sales accounted for approximately 21% of the company's revenue. 

2) Watchfinder  

The pre-owned watch specialist hailing from the UK, watchfinder.co.uk, currently sits at the #2 spot on our list. Established in 2002, the online store is managed by Watchfinder.co.uk, Ltd. and operates as a nationally-oriented online store, whose primary source of eCommerce net sales is the UK. Other countries, including the U.S., contribute only a minor portion to its online sales.  

It is also worth noting that watchfinder.co.uk is the only online store on our list which exclusively sells watches.

3) H. Samuel  

Launched in 2005, hsamuel.co.uk is the third biggest specialist Jewelry & Watches online store in the UK. Focusing predominantly on the UK market, the online store’s eCommerce net sales are almost entirely sourced from the region. 

Hsamuel.co.uk is a part of Signet Jewelers, Ltd., a public company established in 1949 with its headquarters in the U.S. In 2022, the company's eCommerce net sales, including those from hsamuel.co.uk, constituted one fifth of its overall revenue. 

The online store’s parent company Signet Jewelers, Ltd. manages various online stores, such as bluenile.com, jamesallen.com, and zales.com - all in the top 10 for the global market. For learning more about the global Jewelry & Watches market, as well as its top players, make sure to check out our analysis.

4) Warren James

We have warrenjames.co.uk coming in fourth on our list. Operated by Warren James (Jewellers), Ltd., the online shop predominantly caters to the UK audience, with the vast majority of its eCommerce net sales coming from the country.  

What sets this online store apart from other players on this list is their men’s jewelry selection. While it can be argued that stores like Pandora focus more on catering to female users, Warren James takes a different approach, also promoting products designed for male users. 

5) Monica Vinader 

Ranking fifth in the UK's online market for jewelry and watches, Monicavinader.com distinguishes itself with a focus on sustainability and ethical production.

Established in 2007 by Monica Vinader, the brand is celebrated for its demi-fine jewelry, combining fashion with fine jewelry standards.

Pandora Clearly Leads in Global Revenue  

In terms of global revenue, pandora.net leads the pack by a wide margin at US$774.2 million, which places it in the second spot globally. Looking at the store’s eCommerce net sales by country, we see the UK in the second spot with 16%, behind the United States (28.1%) and ahead of Italy (8.4%).  

Except for monicavinader.com, which makes 61% of its revenue in the UK, the difference between domestic and international revenue is not as significant for the other top 5 players. Watchfinder.co.uk, Hsamuel.co.uk and Warrenjames.co.uk generate at least 95% of their revenues in the UK. 

Monica Vinader Made It to Top 5 in 2023

Looking back at the historical rankings of the top 5 specialist online stores for jewelry and watches in the UK from 2019 to 2023, we see that Pandora.net has maintained a strong presence at the top of the rankings since 2020, holding the number 1 position for four consecutive years after moving up from the second spot in 2019.

Watchfinder.co.uk started off as the leading online store in 2019 but then saw a drop to the third spot in 2020. However, it quickly recovered and has since secured the second position for three years straight (2021-2023). Hsamuel.co.uk has shown consistency in its ranking, starting at the third position in 2019, moving up to the second spot in 2020, and then stabilizing in the third position from 2021 to 2023.

Warrenjames.co.uk made an impressive entry into the top ranks, not listed in 2019 but then rapidly climbing from the seventh position in 2020 to the fourth spot by 2021, where it has remained through 2023. Monicavinader.com has shown the most dramatic rise among the top 5. Also not listed in 2019, the online store ranked 19th in 2020, then made a significant leap to the 14th spot in 2021. By 2022, it had climbed to the sixth position, finally breaking into the top 5 by 2023.

Learn More About the ECDB Store Rankings

Online Jewelry & Watches Market in the UK: Steady Growth

The eCommerce revenue in the UK's jewelry and watches market has shown a significant evolution in the last decade. In 2017, the market revenue stood US$2.46 billion, and by 2019, just before the pandemic, revenue had increased to US$3.08 billion. The year 2020 marked a dramatic shift with revenues soaring to US$4.34 billion, a substantial jump attributed to the pandemic. Following this surge, 2021 saw a further increase to US$5.33 billion, possibly as a result of continued restrictions and a growing comfort with online shopping.

However, in 2022, there was a slight dip to US$4.61 billion, suggesting a stabilization after the pandemic-induced spike. The revenue in 2023 showed a modest recovery to US$4.84 billion, suggesting a stabilization in the market. Looking forward, forecasts indicate market revenues of US$5.17 billion by the end of this year, reaching up to US$6.53 billion by 2028.