Jewellery Industry to Emerge in Full Swing

By Hridkamal RoyA glittering future awaits the jewellery industry as can be observed from the recent developments. The global sales structure that has been 148 Billion euro is expected to experience a steady growth of five to six percent and achieve a net worth of 250 Billion euro by the year of 2020. The consumer demand for jewellery that was hugely damaged by the global recession now appears to be spreading its wings all across the world. The industry of jewellery as it stands is very dynamic and is growing at a very fast pace. Changes are being observed both in terms of industry and the consumer behaviour itself.

An Overview

In order to chart out the most possible path of the jewellery industry, the analysis of publicly available data, study of fashion and bridal jewellery companies and the interview of executives and officials who are involved with the fine jewellery and fashion jewellery companies must always be conducted. Popular research has indicated to the fact that there have been prevalently five trends that have shaped the size and structure of the jewellery industry over the course of pat thirty years. Fast change in fashion trends, hybrid consumption of jewellery, and gradual growth of the branded products, reconfiguration of the channel landscape and internationalisation and consolidation has been the major reasons for the same. So, these are the main factors that jewellery companies must always refer to in order to achieve sustainability
in the market.

Consolidation of the Industry

All the national apparel brands all across the world in the 1980s were held as prominent leaders in their respective markets. Marks & Spencer in the United Kingdom and C&A in Germany can be held as visible examples in this regard. Zara and H&M are two of the various international brands that have been successful in outrunning these national brands and have equivalent market share globally today. Also, there have been the emergences of many of the national brands that have started selling outside their country. For example, Hugo Boss is one of those apparel brands that have presence out Germany as well.

Growth of the Branded Jewellery Industry

On a comparative study, it is seen that the sales of the branded items in the watch market accounts to sixty percent where when it comes to fashion and bridal jewellery, it only accounts to only 20 percent of the sales in the international market. Since the year of 2003, the share however has doubled. All the executives and professionals belonging to the jewellery industry claim that the share will further increase by the year of 2020 but as to how the shift will take place is based on varied opinions. Most of the industry veterans claim that the market share for the branded jewellery market will account to thirty to forty percent of the global market by the year of 2020.

The jewellery market is on the rise as it can be seen all over the world. The acceptance of the population towards the changing trends in the jewellery industry is getting reflected from time to time. Now, it is not under question whether the industry will yield further profits or not, the question is in what ways will the development of this industry will affect the economy of a nation and finally the global economy as well.