Supply Chain Management In The Jewelry Industry Statistics

IDEX (2023) reports that 30% of jewelry retail executives believe sustainability/ethics are “very important” purchase drivers [1]

Bain & Company (2024) estimated that the global luxury market will grow to €400–450 billion by 2025 [2]

Bain & Company (2023) reported that approximately 60% of luxury sales are from “brand and marketing” activities (i.e., consumer-facing drivers) [3]

KPMG (2019) found that 79% of consumers expect companies to take action to reduce their environmental impact [4]

KPMG (2022) reported that 73% of consumers are willing to pay more for sustainable products [5]

NielsenIQ (2021) reported that 75% of consumers are more likely to buy from brands that support sustainability [6]

Accenture (2022) reported that 44% of consumers said they would switch brands for better sustainability credentials [7]

Accenture (2020) found 72% of consumers expect companies to act on climate change [8]

Statista (2024) reported global diamond value chain market size of $XX (not accessible without subscription) [9]

Eurostat (2023) reported jewellery and related exports (HS 71) annual growth % [10]

IBM (2019) reported that 62% of organizations are using or planning blockchain for supply chain traceability [11]

World Economic Forum (2020) reported that 10% of value chains are using blockchain (or pilot) [12]

Deloitte (2019) reported that 30% of surveyed companies are using blockchain in supply chain (or pilots) [13]

IBM (2020) reported that 77% of organizations see blockchain as important for supply chain trust [14]

Mastercard (2021) reported that 80% of financial institutions will have implemented or are exploring tokenization by 2023 (general) [15]

ISO (2020) reported ISO 22005 (traceability in feed and food) adopted widely (not jewelry) [16]

GS1 (2022) reported that GS1 standards support traceability in global supply chains with 1+ million trading partners (claim) [17]

GS1 (2021) reported that GS1 Global Traceability Partnership includes 10+ pilots with retailers [18]

RFID Journal (2020) reported that companies adopting RFID reduce inventory out-of-stocks by 10–15% [19]

Gartner (2022) reported that by 2024, 50% of organizations using IoT will use predictive analytics for operations (general) [20]

NASA (2020) satellite data usage in monitoring supply chains isn’t jewelry-specific [21]

OECD-FAO (2019) for traceability uses digital tools with adoption rates (general) [22]

World Gold Council (2023) reported that 2,500 tonnes of gold were mined in 2022 [23]

World Gold Council (2023) reported that gold recycling supplied 1,950 tonnes in 2022 [24]

World Gold Council (2023) reported that gold recycling can reduce CO2 emissions compared with new mining (reported reduction ranges) [25]

USGS (2023) reported world mine production of gold was 3,000 metric tons in 2022 [26]

USGS (2024) reported that platinum group metals mine production was 190 tonnes in 2023 (platinum) [27]

USGS (2023) reported that silver mine production was 1,000 million ounces in 2022 [28]

Responsible Jewellery Council (RJC) reported that as of 2023 there were 1,500+ members participating in its certification system [29]

RJC (2023) reported that over 70% of diamond supply chain companies and 80% of gold refineries are participating in responsible assurance schemes (as stated) [30]

OECD (2016) estimates that due diligence is critical for supply chains in conflict-affected and high-risk areas (data points on covered minerals) [31]

OECD (2021) reported that the Due Diligence Guidance was designed for risks in 16 conflict-affected countries (covering minerals) [32]

Kimberley Process (KP) reported that global rough diamond production was ~122 million carats in 2022 [33]

Kimberley Process (KP) reported that global rough diamond exports totaled ~125 million carats in 2022 [33]

Kimberley Process (KP) reported total KP production share from participating states in 2022 [33]

World Trade Organization (2023) reported that global trade in precious stones and metals totaled $XX (needs exact table) [34]

UN Comtrade (2023) data shows trade value for HS 71 (Natural or cultured pearls, precious or semi-precious stones, precious metals) exceeded $X (requires query) [35]

ITC Trade Map shows HS 71 jewelry and related exports at $X (query-dependent) [36]

World Bank (2020) estimated that 1 in 10 jobs globally is informal in mining-related supply chains (approx) [37]

De Beers (2022) reported rough diamond sales (carats) in 2022 were 35 million carats (as stated in report) [38]

De Beers (2023) reported average diamond sales value per carat increased to $X (needs exact page) [38]

Rio Tinto (2023) reported production of gold (not jewelry) [39]

Anglo American (2023) reported platinum production (not jewelry) [40]

LBMA (2023) reported that the Responsible Gold Guidance (RGG) is used by member companies, with coverage figures [41]

LBMA (2022) reported that Good Delivery List includes ~1,000 members/refiners [42]

ILO (2017) reported about 40 million people are in forced labor globally [43]

ILO (2022) reported 27.6 million people were in forced labor in 2021 [44]

ILO (2023) reported 2.0 million children were in forced labor [45]

Walk Free Foundation (2023) estimated modern slavery at 50 million people [46]

Transparency International (2023) reported CPI score averages by region with jewelry/corruption risks (not specific) [47]

US Department of State (2023) reported forced labor and human trafficking risk indicators [48]

European Commission (2024) adopted EU Regulation on conflict minerals (Reg. (EU) 2017/821) covering tin, tantalum, tungsten and gold [49]

U.S. SEC (2012) adopted conflict minerals rules for DRC and surrounding countries (Reporting calendar) [50]

FATF (2020) reported that illicit financial flows are significant globally (value estimates) [51]

INTERPOL (2022) reported that gold and diamonds are frequently used for laundering (qualitative) [52]

Europol (2021) reported that organized crime profit from illicit markets including precious metals (estimated) [53]

OECD (2013) reported that companies face up to $XX of costs from non-compliance (not precise) [31]

WHO (2021) reported that pandemic disruptions affected global supply chains (general) [54]

McKinsey (2020) reported that 30–50% of supply chain disruptions are caused by transportation bottlenecks (general) [55]

Deloitte (2021) reported that 79% of companies say disruptions had major impacts (survey) [56]

World Economic Forum (2021) reported 80% of executives see climate change as a supply chain risk [57]

CDP (2021) reported that companies with climate risk disclosures experienced cost impacts (general) [58]

Responsible Minerals Initiative (RMI) reported that 2,000+ companies participate in smelter/refiner validation (as of 2023) [59]

RMI (2023) reported that 99% of validated smelters/refiners have been assessed (as of reporting year) [59]

US GSA (2022) estimated average time for procurement cycles (general) [60]

APQC (2018) reported that purchase order cycle time averages X days (not jewelry-specific) [61]

SAP (2020) reported that companies can reduce procurement lead time by 20–50% with automation [62]

Gartner (2021) reported that supply chain organizations will improve OTIF by 10–20% with digital operations [20]

McKinsey (2021) estimated that supply chain transformations can deliver 20–30% cost reductions [63]

UNCTAD (2022) reported shipping costs fluctuations impacting trade (general) [64]

IATA (2022) reported that air cargo demand increased 9.2% year-over-year (general) [65]

UNCTAD (2021) reported that container shipping costs rose sharply during pandemic (index increase) [66]

World Bank (2020) Logistics Performance Index ranking impacts supply chain (general) [67]

GIA (2022) reported average jewelry inventory turnover times in specialty retail (general) [68]

McKinsey (2022) found that companies using advanced analytics can reduce operating costs by 20–50% [69]

McKinsey (2020) found that data-driven supply chain organizations can achieve 15–20% lower supply chain costs [70]

Gartner (2020) estimated that poor data quality costs organizations an average of $12.9 million per year [71]

IBM (2020) reported that 57% of organizations say they have no visibility into inventory across their supply chain [72]

IBM (2019) reported that companies with end-to-end supply chain visibility can reduce inventory by 10% and stockouts by 16% [73]

Deloitte (2019) reported that 40% of companies lack visibility into their extended supply chain [74]

Aberdeen Group (2019) reported that top-performing supply chains achieve 2x higher forecast accuracy (general) [75]

CSCMP (2018) reported average transportation costs are 4–10% of GDP (general) [76]

US Census (2023) reported average retail inventories by NAICS 448 (jewelry stores) value [77]