PROSPECTS AND OPPORTUNITIES
Costume jewellery will prosper through personalisation
Jewellery in the UK is predicted to return to positive retail volume growth over the forecast period, while value sales (at constant 2024 prices) are set to weaken. This will largely be due to waning import costs, lower raw materials costs and overall, a shifting attitude towards discretionary spending within jewellery, as local consumers gradually return to the category as a means of indulgence or investment.
G7 diamond sanctions reshape diamond traceability and supply chains
Since the introduction of the Kimberly Process Certification Scheme (KPCS) in 2003 around the trade and production of rough diamonds used for jewellery, the ethics of diamond sourcing have continued to be interrogated. The KPCS holds diamond manufacturers and jewellery brands to ethical and sourcing standards to ensure they are “conflict-free”.
Generation Z drives social commerce and shifting consumer preferences
As consumer preferences continue to shift and evolve over the forecast period, the trend of younger generations entering the category is expected to gain further momentum. The growing consumer base of Generation Z will be a key demographic to market to in a turbulent landscape, especially for fine jewellery.
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Overview:
Understand the latest market trends and future growth opportunities for the Jewellery industry in United Kingdom 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 United Kingdom, 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 United Kingdom 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 United Kingdom?
- Which are the leading brands in Jewellery in United Kingdom?
- How significant is tourism in determining sales and demand for Jewellery in United Kingdom?
- How are COVID-19 and global recession impacting demand for Jewellery in United Kingdom?
- 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 the United Kingdom - Category analysis
KEY DATA FINDINGS
Cautious behaviour towards discretionary purchases impacts fine jewellery
Lab-grown diamond prospects fluctuate amid regulations and market fragmentation
Competitive landscape remains fragmented with no changes at the top
Costume jewellery will prosper through personalisation
G7 diamond sanctions reshape diamond traceability and supply chains
Generation Z drives social commerce and shifting consumer preferences
Personal Accessories in the United Kingdom - 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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