PROSPECTS AND OPPORTUNITIES
Affordable alternatives are expected to gain ground across the forecast period
While affluent consumers tend to be more resilient in challenging economic situations, for the majority of consumers, the purchase of jewellery is not going to be a priority across the forecast period. Jewellery purchases will continue to be occasion driven, and many shoppers will seek affordable alternatives by opting for cheaper stones or using independent jewellers.
Shein and Temu are set to remain a growing challenge for local brands
Shein and Temu have been impacting the sales of costume jewellery from local brands, and this trend is expected to continue throughout the forecast period. These Asian retailers not only offer attractive prices but also provide a wider selection of products.
South Africa is set to remain an established market for buying luxury jewellery
Across the continent, South Africa will continue to be a preferred market for luxury jewellery. Although no standalone luxury jewellery brand stores exist in South Africa, big brands can be purchased through established players such as Bellagio Jewellers and Elegance Jewellers.
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Overview:
Understand the latest market trends and future growth opportunities for the Jewellery industry in South Africa with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Jewellery industry in South Africa, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Jewellery in South Africa report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Jewellery in South Africa?
- Which are the leading brands in Jewellery in South Africa?
- How significant is tourism in determining sales and demand for Jewellery in South Africa?
- How are COVID-19 and global recession impacting demand for Jewellery in South Africa?
- In the wake of COVID-19, how soon can Jewellery be expected to recover? Where are the opportunities for growth now?
- Where is future growth expected to be most significant?
Jewellery in South Africa - Category analysis
KEY DATA FINDINGS
Tourism boosts the sales of fine jewellery brands in South Africa
Lab-grown diamonds gain popularity as consumers appreciate affordable options
Affordability drives consumers to choose smaller retailers for jewellery
Affordable alternatives are expected to gain ground across the forecast period
Shein and Temu are set to remain a growing challenge for local brands
South Africa is set to remain an established market for buying luxury jewellery
Personal Accessories in South Africa - Industry Overview
Personal accessories in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for personal accessories?
DISCLAIMER
The following categories and subcategories are included:
Jewellery
- Costume Jewellery
- Fine Jewellery
Jewellery
Jewellery is a kind of personal adornment usually made with various precious and semi-precious materials such as gemstones, precious metals, beads, glass, and shells. Jewellery is segmented as either real or costume jewellery. Hair Accessories are not included as part of Real or Costume jewellery.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Jewellery research and analysis database.
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