Industry Analysis & Industry Trends
A weak economy, high precious metal prices and growing import penetration have taken the sparkle out of the Jewellery & Related Article Manufacturing industry. The industry is fragmented and there is a lack of large firms able to propel the industry forwards.
Consumers have been reluctant to spend on luxury items like jewellery since the onset of the global financial crisis. Cheap, imported products from low-cost countries have become more appealing to retailers seeking to protect their margins, and to consumers looking for value for money.
Over the five years through 2011-12, industry revenue is forecast to decrease an average annualised 10.9% to £571.4 million. Industry revenue in 2011-12 is forecast to grow for the first time since 2007-08, but only.. purchase to read more
Industry Report - Industry Analysis Chapter
The Jewellery & Related Article Manufacturing industry has lost its lustre, as it has been squeezed by a combination of weak local demand, higher material prices and fierce import competition. Some local companies have located their manufacturing operations in low-cost countries like Thailand. A weak jewellery market and high precious metal prices affected jewellery retailers. They responded by reducing their stock and buying more products directly from overseas manufacturers to obtain lower prices.
Industry revenue is forecast decrease an annualised 10.9% in the five years through 2011-12. Sales volumes will fall by a significantly higher percentage than the fall in revenue, after taking into account the effect of increases in the average gold prices... purchase to read more