The Middle East and Africa jewellery market is stepping into a new era of growth. In 2024, the market value stands at USD 31.12 billion. By 2033, it is projected to reach USD 61.74 billion, growing at a CAGR of 7.91 percent. This impressive expansion is driven by the region’s cultural bond with gold, diamonds, and precious stones, now combined with digital innovation that is reshaping the jewellery industry.
Cultural Power
Jewellery in the Middle East is more than an accessory. It is a symbol of wealth, heritage, and social identity. Gold plays a central role in life events. Families gift gold at weddings, births, and religious festivals. In Saudi Arabia and Oman, dowries often include significant gold investments, keeping demand strong and steady. According to the World Gold Council, the GCC contributes 9 to 12 percent of global gold demand. This cultural tradition guarantees that jewellery will always remain a high-value industry in the region.
What Drives Market Growth?
Several factors are fueling the rapid growth of jewellery sales in the Middle East. Urbanisation and rising disposable incomes have created a new class of luxury buyers. Customers in Dubai, Riyadh, and Doha are known for their heavy spending on fine jewellery, with per capita income in the UAE and Qatar exceeding USD 60,000.
The younger generation is reshaping jewellery retail. Online jewellery sales are growing at double-digit rates, driven by customers who prefer convenience, fast delivery, and the ability to customise designs. Global giants such as Cartier and Tiffany are expanding across GCC countries, while regional leaders like Malabar Gold & Diamonds are opening new outlets. Boutique jewellers are also finding success by using Instagram and TikTok to showcase unique collections and reach new audiences.
Another important trend is the rise of ethical and sustainable jewellery. Dubai has emerged as a hub for lab-grown diamonds, meeting demand from customers who want authenticity, affordability, and sustainability in their purchases.
Challenges Facing the Jewellery Industry
Despite strong demand, jewellery retailers in the Middle East face serious challenges. Gold prices remain volatile, with annual fluctuations of up to 12 percent. This makes pricing strategies difficult and reduces profit margins. High import duties increase costs for jewellers, forcing many to seek grey markets and informal suppliers.
The presence of counterfeit jewellery and unregulated sellers damages customer trust. Buyers are more cautious than ever, especially when purchasing high-value diamonds and gemstones. Meanwhile, customer preferences are shifting away from heavy, traditional ornaments to lighter, modern, and customised designs. Retailers who cannot adapt to these new tastes risk losing relevance.
Where ERP Transforms Jewellery Retail
Traditional manual systems cannot handle the fast pace of today’s jewellery market. The industry is highly competitive and tightly regulated, with no room for error. Jewellers in Dubai, Riyadh, and Doha must deal with complex inventory, strict compliance rules, and demanding customer expectations. Even a small mistake in billing, pricing, or stock management can harm brand reputation and profitability.
This is where Enterprise Resource Planning (ERP) becomes essential. Jewellery ERP software like SUNFACET ERP, developed by Suntech Business Solutions, is built specifically for the jewellery sector in the Middle East. It centralises operations, reduces errors, and ensures transparency at every stage.
Key Benefits of Jewellery ERP
- Real-time inventory management
ERP provides jewellers with instant visibility of their gold, diamond, and gemstone stock. They always know what is available and where it is located, whether in the main store, warehouse, or another branch. - Regulatory compliance
The system is designed to handle VAT regulations in the UAE and GCC. Automated compliance reduces the risks associated with manual processes and protects jewellers from fines or legal issues. - Custom order tracking
From bridal sets to personalised jewellery, ERP makes it simple to manage special orders. Customers enjoy a transparent and reliable experience, which builds long-term trust. - Omnichannel integration
Modern jewellers often operate multiple physical outlets and online stores. ERP connects these channels, ensuring that stock, pricing, and promotions remain consistent across all platforms. - Data-driven decisions
Built-in analytics and dashboards help jewellers track gold price fluctuations, monitor sales performance, and study customer buying trends. This data allows smarter business decisions and stronger competitiveness.
Why ERP is Now a Necessity
The jewellery industry in the Middle East is entering its most competitive decade. Market leaders are investing heavily in digital solutions to scale faster and meet customer expectations. Jewellers who continue using outdated manual systems will struggle with inefficiency, compliance risks, and missed opportunities.
By adopting SUNFACET ERP, jewellery businesses can simplify daily operations, maintain customer trust, and confidently expand in one of the world’s most dynamic markets. It is not just about technology but about enabling jewellers to focus on creativity, customer service, and long-term growth.
The Middle East jewellery market is set for strong growth from 2025 to 2033. Cultural traditions keep demand resilient, rising incomes expand luxury spending, and younger buyers fuel online and customised jewellery sales. Yet challenges such as price volatility, counterfeits, and shifting consumer tastes demand smarter solutions.
ERP software provides that solution by bringing precision, compliance, and efficiency into the heart of jewellery retail. Suntech Business Solutions’ SUNFACET ERP is built for the unique needs of this market, enabling jewellers to thrive with confidence.
Now is the time to act. As competition intensifies, those who embrace ERP will lead the market, while those who hold on to manual systems risk falling behind. Jewellery stores in the Middle East can secure their future by adopting ERP today and preparing for a decade of unmatched growth.
