Table of Contents
Issues in the Market
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- Definitions
- Abbreviations
Insights and Opportunities
Market in Brief
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- Challenging market
- Declining share of retail sales overall
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- Figure 1: Jewellery spending as % all retail sales, 1998-2006
- Figure 2: Clothing spending as % all retail sales, 1998-2006
- Product sectors fare differently
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- Figure 3: Consumer spending on jewellery and watches by product sector, 2002-07
- Figure 4: Share of jewellery and watches market, by product sector, 2006
- Influencing factors – external
- Saving more and spending less
- Positive employment and demographic trends
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- Figure 5: Population % changes, 2002-12
- The demise of analogue and the take-up of broadband
- Influencing factors – internal
- Price sensitivity
- Emotional and ethical issues
- Seasonality and fashion
- Where they buy
- Growing appeal of non-specialists
- Industry innovations
- Consumer types and attitudes
- The male opportunity
- The fashionable 40s opportunity
- The future – winning strategies
Fast Forward Trends
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- Trend 1: Play Ethic
- Definition:
- Trend 2: Modern Life Is Rubbish
- Definition:
- Trend 3: Help, I Need Somebody
- Definition:
- Trend 4: Experience Is All
- Definition:
Industry Insight
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- Key points
- A tough market
- Market overview
- Market sales growth by product category
- Store design trends
- Winners and losers in the market
- New competition
- Home shopping channels
- The Internet and transactional websites
- Product offers – brands and own-brands
- Price movements and consumer sensitivity
- Product offers – what’s been selling best
- The impact of fashion trends
- Diamond simulants – potential growth?
- The influence of celebrities
- Gifting and self-purchase
- Advertising and marketing
- The future
- Key influences, challenges and opportunities
- Winning strategies for the future
Internal Market Environment
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- Key points
- Marriages
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- Figure 6: Number of marriages, 2002-12
- The price
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- Figure 7: Gold prices, 2004-06
- Figure 8: Metal price comparisons, August 2006
- Seasonality and fashion
- Fashion trends
- Men’s interest in jewellery and watches
- Celebrities
- Emotional and ethical issues
Broader Market Environment
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- Key points:
- Personal disposable income and consumer expenditure
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- Figure 9: PDI and consumer expenditure, at current and constant 2002 prices, 2002-12
- Figure 10: PDI and consumer expenditure, 2002-07
- Inflation and interest rates
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- Figure 11: UK inflation rates, all goods UK, 2002-12
- Savings
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- Figure 12: Savings ratio, 2002-12
- Employment
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- Figure 13: UK workforce and employment, 2002-12
- Population
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- Figure 14: Population numbers, by age group, 2002-12
- Socio-economic changes
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- Figure 15: Population numbers and percentage, breakdown, by socio-economic group, 2002-12
Market in Context
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- Key points
- Handbags
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- Figure 16: UK retail sales of handbags, at current and constant 2002 prices, 2002-07
- Portable technology
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- Figure 17: UK retail sales of portable technology, at current and constant 2002 prices, 2002-06
- Jewellery and watches
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- Figure 18: UK retail sales of jewellery and watches, at current and constant 2002 prices, 2002-07
Strengths and Weaknesses in the Market
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- Strengths
- Weaknesses
Who’s Innovating?
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- Product offer – precious jewellery
- Product offers – costume/fashion jewellery
- The importance of websites
- Celebrities
- New store design
- Brand name and personality
- Integrating TV with the Internet
Market Size and Forecast
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- Key points
- Total market for jewellery and watches
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- Figure 19: Consumer spending on jewellery and watches, at current and constant prices, 2002-07
- Market by product sector
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- Figure 20: Consumer spending on jewellery and watches, by product sector, excluding VAT, 2002-06
- Costume jewellery
- Precious jewellery
- Watches
The Consumer – Who Buys and Where Do They Buy?
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- Key points
- Where do they buy?
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- Figure 21: Where consumers buy jewellery and watches, 2003-07
- Where they buy, by demographics
- The young are prime purchasers
- Broad appeal of supermarkets
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- Figure 22: Who buys jewellery and watches from which retailers, by gender, age and socio-economic group, April 2007
- Older affluent consumers like M&S
- Internet opportunity and growth
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- Figure 23: Who buys jewellery and watches from which retailers, by gender, age and socio-economic group, April 2007
- Affluent consumers want something different
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- Figure 24: Who buys jewellery and watches from which retailers, by gender, age and socio-economic group, April 2007
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- Figure 25: Retailers used for buying jewellery and watches, by affluence and age, April 2007
- Retailers and affluence
- How loyal are jewellery and watch shoppers?
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- Figure 26: Outlets used for buying jewellery and watches in the last 12 months, by number of stores shopped, April 2007
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- Figure 27: Outlets used for buying jewellery and watches in the last 12 months, by number of stores shopped, April 2007
- Low purchase rate
- Argos and specialists attract loyalty
- Shopping around, but not just for costume jewellery and watches
- Consumer types and loyalty
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- Figure 28: Consumer types by number of shops used, April 2007
Who Buys and Where Do They Buy – Detailed Consumer Demographics
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- Figure 29: Who buys jewellery and watches from which retailers, by lifestage, Special Groups, working status, region, ACORN categories, technology users, commercial TV viewing and supermarket used, April 2007
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- Figure 30: Who buys jewellery and watches from which retailers, by lifestage, Special Groups, working status, region, ACORN categories, technology users, commercial TV viewing and supermarket used, April 2007
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- Figure 31: Who buys jewellery and watches from which retailers, by Special Groups, region, ACORN categories, technology users, commercial TV viewing and supermarket used, April 2007
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The Consumer – Buying Jewellery and Watches
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- Key consumer findings
- Jewellery – what they buy
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- Figure 32: Attitudes to shopping for watches and jewellery, April 2007
- Expensive items are more for gifts
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- Figure 33: Attitudes to shopping for watches and jewellery, by gender, age and socio-economic group, April 2007
- Few buy frequently
- Buying across both costume and precious
- The male opportunity
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- Figure 34: Attitudes to shopping for watches and jewellery, by gender, age and socio-economic group, April 2007
- Identifying targets
- Unconcerned
- Cost Conservative
- Impulsive Jewellers
- Bling Bling
- Consumer types – where they shop
- Retailer opportunities
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- Figure 35: Where they shop for jewellery and watches, by consumer types, April 2007
- Why they buy jewellery – style and price
- Costume jewellery is impulsive
- Looking for style over price
- Keeping up with fashion
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- Figure 36: Attitudes to shopping for watches and jewellery, by gender, age and socio-economic group, April 2007
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- Figure 37: Attitudes to shopping for watches and jewellery, April 2007
- Attitudes to watches
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- Figure 38: Attitudes to shopping for watches, April 2007
- Most buy just for replacement
- Young men like designer styles, and will splash out
- Women more likely to feel guilty
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- Figure 39: Attitudes to shopping for watches and jewellery, by gender, age and socio-economic group, April 2007
Buying Jewellery and Watches – Detailed Consumer Demographics
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- Figure 40: Shopper typologies by gender, age, socio-economic group, marital status, ACORN categories, daily TV viewing, region, newspaper readership and supermarket used, April 2007
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- Figure 41: Shopper typologies by attitudes to jewellery and watches shopping, April 2007
- Consumer attitudes to retailers
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- Figure 42: Why they buy jewellery, by region, ACORN categories, commercial TV viewing and supermarket used, April 2007
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The Consumer – Attitudes Towards Buying Watches
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- Key consumer findings:
- What shoppers think of jewellery and watches, by demographics
- Attitudes to retailers
- A question of trust in specialists …
- … with the focus on service
- But little resistance to buying online
- Supermarkets a hit in the fashion stakes
- Consumers want something different?
- Comparing prices is about getting good value…
- … and can be done in ‘physical’ shops or online
Attitudes Towards Buying Watches – Detailed Consumer Demographics
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- Figure 43: Attitudes to buying watches, by region, ACORN categories, commercial TV viewing and supermarket used, April 2007
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- Figure 44: Attitudes to shopping for watches and jewellery, by region, ACORN categories, media used, commercial TV viewing and supermarket used, April 2007
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- Figure 45: Attitudes to shopping, by region, ACORN categories, commercial TV viewing and supermarket used, April 2007
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Retail Advertising and Promotion
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- Figure 46: Main media advertising by jewellery retailers, 2002/03-2006/07
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Retail Competitor Analysis
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- Key points
- Retailer performance
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- Figure 47: Main retailers’ sales and profit performances, 2004-06
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- Figure 48: Breakdown of market share of major retailers, 2001-06
- Overview of key strategies of retailers
- Retailer winners and losers
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- Figure 49: Summary of UK outlet numbers of jewellery retailers, 2001-07
Retailer Profiles
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- Specialist jewellers
- Signet Group (UK)
- H.Samuel
- Ernest Jones
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- Figure 50: Signet (UK), number of stores and productivity, 2001-07
- Figure 51: Signet (UK), stores data, by fascia, 2001-07
- H.Samuel
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- Figure 52: H.Samuel, merchandise sales mix, 2002-07
- Ernest Jones
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- Figure 53: Ernest Jones, merchandise sales mix, 2002-07
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- Figure 54: Signet Group (UK), financial performance, 2002-07
- The Goldsmiths Group
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- Figure 55: Goldsmiths, number of stores and productivity, 2001-07
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- Figure 56: Goldsmiths Ltd, financial performance, 2001-06
- Figure 57: MW Group Ltd, financial performance, 2001-06
- F Hinds
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- Figure 58: F Hinds, financial performance and number of stores, 2001-06
- Beaverbrooks the Jewellers
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- Figure 59: Beaverbrooks the Jewellers Ltd, financial performance and number of stores, 2001-07
- Fraser Hart
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- Figure 60: Fraser Hart Ltd, financial performance and number of stores, 2001-06
- HPJ Jewellers
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- Figure 61: HPJ UK Ltd, financial performance and number of stores, 2001-05
- Warren James
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- Figure 62: Warren James Ltd, financial performance and number of stores, 2001-06
- Links of London
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- Figure 63: Links of London, financial performance, 2002-06
- Boodles (Boodle & Dunthorne Ltd)
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- Figure 64: Boodle & Dunthorne Ltd, financial performance and number of stores, 2002-06
- Theo Fennell plc
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- Figure 65: Theo Fennell Ltd, financial performance and number of stores, 2002-07
- Other jewellery specialists
- Asprey/Garrard
- Smaller fine jewellery specialists
- Diamond simulant retailers
- Carat*
- Secrets shhh
- Fashion/costume jewellery specialists
- Others
- Non-specialists
- Argos
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- Figure 66: Argos, financial performance and number of stores, 2002-07
- Supermarkets
- George at ASDA
- Tesco
- Sainsbury’s
- Department and variety stores
- Bhs
- Debenhams
- House of Fraser
- John Lewis
- Marks & Spencer
- Other department stores
- Fashion accessories retailers
- Claire’s Accessories
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- Figure 67: Claire’s Accessories UK Ltd, financial performance, 2001-06
- Accessorize
- Clothing chains
- Next
- New Look
- Arcadia
- Mosaic Fashion Group
- River Island
- H&M
- Home shopping
- Avon
- Virgin Vie At Home
- QVC
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- Figure 68: QVC UK, financial performance, 2001-06
- Gems TV
- The Jewellery Channel
- Internet retailers
- Asos.com
- Bluenile
- cooldiamonds.com
- diamondgeezer.com
- Geraldonline
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