1.1 Definition and presentation
The jewelry sector identifies the set of production processes that lead to the creation of accessories and precious ornaments. In fact, in ancient times, the jewel had a symbolic value, often religious or spiritual, and was represented mostly by amulets or good luck charms. A meaning that, over time, has changed radically, but that continues to identify the jewel as a symbol of beauty and status, meanings not too far from its original value.
The jewelry industry is mainly driven by certain product categories:
The years preceding 2020 have demonstrated strong growth in the UK jewelry market; necklaces grew the most between 2014 and 2018 (10%), whilst watches grew at the slowest rate (2%). A strong value driver has been the increased spending by women.
Large retailers include for example Pandora, HSamuel, Accessorize, Watchshop. The UK jewelry market is highly fragmented with around 100 retailers. [salience]
Demand for jewelry is positively correlated to economic growth and inflation. Factors such as an increasing proportion of HNWIs and a soaring urban population also contributes to positive growth. Moreover, since foreign consumers make up a large fraction of the revenue of jewelers in the UK, the value of the pound matters; the recent growth in the industry has been party driven by a weak pound in times of uncertainty around Brexit.
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The jewellery market - France
Very comprehensive and well researched I appreciate the disclosure of sources when publishing data
Hi Richard, Thank you for your feedback and we are glad that this study gave you a good overview of the market.