Industry Analysis & Industry Trends
The past five years were marked by the financial crisis that decimated economies around the globe, including the UK economy. For jewellery and watch stores, demand is closely correlated with the state of the overall economy. As such, the industry has suffered over the past five years, with revenue declining an average annualised 2.6% to reach £3.9 billion by the end of 2011-12. As the economy crumbled, asset prices fell, unemployment rose and overall household wealth declined rapidly. This affected industry sales, as households reduced their consumption of luxury goods, particularly the more affluent buyers who account for the largest proportion of industry sales. During 2011-12, industry revenue is expected to decrease 1.1% as the economic recovery falters... purchase to read more
Industry Report - Industry Key Buyers Chapter
IBISWorld estimates that the four largest players in the Jewellery and Watch Stores industry control 24% of the total market. There is no one player that has the scale, and therefore the ability, to dominate the entire market. This means the industry has a low level of concentration. The four largest players in this industry are Signet Jewelers Limited, Aurum Group Limited, Tiffany & Co. Limited and Beaverbrooks the Jewellers Limited.
In such a highly fragmented landscape as jewellery retailing, there are many brands and enterprises competing for business. Typically, each enterprise controls a sufficient enough size of the market to be able to survive, but none account for a large enough share to control or influence the direction of industry movement... purchase to read more