Mintel’s last review of the precious metal jewellery market in March 2004 was able to testify to strong sales growth in real terms, and the report sought to establish whether growth could be sustained. It concluded that growth would continue, but at a reduced rate. In practice overall market demand slowed through 2004 and then stagnated through 2005, although showing signs of recovery through 2006.

Despite this slowdown the jewellery sector has outperformed the general retail market, particularly other big ticket consumer goods, such as furniture, white goods and DIY, but has shown very great internal variation with growth focused on high-end jewellery, on more unusual design, on fashion and via the Internet. The key factors therefore continue to be the role played by the awareness and availability of different designs, product innovation and women’s increasing participation in the market.