Table of Contents
Issues in the Market
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- Main themes
- Definitions
- Abbreviations
Future Opportunities
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- Making the most of the time you’ve got
- Wear your heart on your (wrist)
- Shop till you drop
Market in Brief
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- Watches and jewellery sales remain flat
- Precious metals remain the largest product sector
- Most own a watch
- Price of gold rides high
- Switch to silver
- Low-priced watches best sellers
- Men willing to spend more on watches
- Watch brand buyers
- A watch for every outfit
- Mobiles replace watches for telling time
- Designer timepieces
- Jewellery gifting
- A quarter of women are self-purchasers
- Silver more popular than gold
- Cash for Gold
- Unethical jewellery
- Costume vs precious metal jewellery
- Jewellery to match an outfit
- High street chains remain most popular
- ABs prefer independent jewellers
- Young shop at high street costume jewellers
- Fashion stores draw impulse buyers
- Four main target groups
- The future
Internal Market Environment
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- Key points
- Most own a watch
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- Figure 1: Ownership of watches, 2005-09
- Boom in mobiles
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- Figure 2: Trends in ownership of watches compared to mobile handsets, 2005-09
- Price of gold rides high
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- Figure 3: Average gold and platinum prices, 2004-09
- Figure 4: Gold prices, 2004-10
- Price of silver edges up
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- Figure 5: Silver prices, 2004-10
- Price of platinum drops
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- Figure 6: Platinum prices, 2004-10
- Figure 7: Number of articles hallmarked, by metal, 2004-09
- Switch to silver
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- Figure 8: ownership of gold or platinum jewellery* and silver jewellery, 2005-09
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- Figure 9: Ownership of jewellery, by type of metal, 2005-09
- Gold spend
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- Figure 10: Amount spent on gold or platinum jewellery, not diamond set, 2005-09
- Silver spend
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- Figure 11: Amount spent on silver jewellery, 2005-09
Broader Market Environment
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- Key points
- Middle-aged to boost watch gifting market
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- Figure 12: Trends and projections in the UK population, by age group, 2005-15
- 25-34s are precious about jewellery
- Old go for gold
- Passion for fashion among the young
- Affluent to drive watch brand sales
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- Figure 13: UK population, by socio-economic group, 2005-15
- ABs turn to silver
- Rising unemployment poses a threat
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- Figure 14: Employment and unemployment, by gender, 2005-15
- Figure 15: Trends in personal disposable income and consumer expenditure, at constant 2010 prices, 2005-15
Strengths and Weaknesses in the Market
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- Strengths
- Weaknesses
Who’s Innovating?
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- Changing the time
- Precision timepieces
- Watches that imitate jewellery
- Jewellery designed with balance in mind
- Jewellery has become acceptable for men
- Helping men with ring buying
- Accessorising to the full
Competitive Context
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- Key points
- Jewellery and watches compared to clothing and footwear
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- Figure 16: UK retail value sales of clothing and adornment products, at current prices, 2005-09
Market Size and Forecast
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- Key points
- Total market for jewellery and watches
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- Figure 17: UK retail value sales of jewellery and watches, at current and constant prices, 2005-15
- The future
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- Figure 18: UK retail value sales of jewellery and watches, at current prices, 2005-15
- Factors used in the forecast
Segment Performance
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- Key points
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- Figure 19: UK retail value sales of jewellery and watches, by sector, 2007-10
- Precious metal jewellery
- Watches
- Costume jewellery
Market Share
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- Key points
- Specialist retailers dominate the market
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- Figure 20: Brand shares in the uk retail jewellery and watches market, by value, 2007-09
- Non-specialists led by Argos
- Signet closes stores
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- Figure 21: Jewellery retailers, by number of outlets, 2005-09
Brand Communication and Promotion
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- Key points
- Most retailers cut adspend
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- Figure 22: Expenditure on advertising, by top jewellery and watches retailers, 2007-09
- Press ads dominate
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- Figure 23: Expenditure on advertising by top jewellery and watches retailers, by media, 2007-09
Companies and Products
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- Signet Group
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- Figure 24: Product offering – Signet Group 2010
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- Figure 25: Key financials – Signet Group, UK, 2009-10
- Aurum (formerly The Goldsmiths Group)
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- Figure 26: Product offering – Aurum, 2010
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- Figure 27: Key financials – Aurum Holdings Limited, 2009-10
- Links of London
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- Figure 28: Key financials – Links (London) Limited (Global), 2008-09
- Swarovski
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- Figure 29: Key financials – Swarovski UK Limited, 2007-08
- Tiffany
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- Figure 30: Key financials – Tiffany & Co. Limited, 2009
- Accessorize
- Warren James
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- Figure 31: Key financials – Warren James, 2008-09
The Consumer – Amount Spent on Watches
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- Key points
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- Figure 32: Amount of money prepared to spend on a watch for self, June 2010
- Low-spenders
- Mid-spenders
- Men willing to spend more
- Middle-aged men aim high
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- Figure 33: Prepared to spend over £250 on a watch for self, by age and socio-economic group, June 2010
- Young don’t buy watches for themselves
The Consumer – Attitudes Towards Shopping for Watches
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- Key points
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- Figure 34: Attitudes towards watches, June 2010
- Most buy to replace
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- Figure 35: Replacement watch buyers, by age and socio-economic group, June 2010
- Time is a gift
- Buying time
- Watch brand buyers
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- Figure 36: Prefer a well-known specialist watch brand, by age and socio-economic group, June 2010
- Designer timepieces
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- Figure 37: Prefer to own a designer branded watch, by age and lifestage, June 2010
- A watch for every outfit
- Mobiles replace watches for time-telling
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- Figure 38: Use of mobile phone instead of watch to tell the time, by age and lifestage, June 2010
The Consumer – Attitudes Towards Buying Precious Metal Jewellery
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- Key points
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- Figure 39: Attitudes towards buying or receiving precious metal jewellery, June 2010
- A fine gift
- A quarter of women are self-purchasers
- Silver more popular than gold
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- Figure 40: Wearing silver versus gold jewellery, by age group, June 2010
- Unworn pieces
- Cash for gold
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- Figure 41: Have sold gold jewellery for cash, by age and socio-economic group, June 2010
- Ethical jewellery
- Contemporary designs
- Diamonds are a girl’s best friend
- Unusual metals remain niche
The Consumer – Attitudes Towards Buying Costume Jewellery
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- Key points
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- Figure 42: Attitudes towards costume jewellery, June 2010
- Costume jewellery as a gift
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- Figure 43: Receiving or buying costume jewellery as a gift, by women, by age and socio-economic group, June 2010
- Costume vs. precious metal jewellery
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- Figure 44: Wearing more costume jewellery than precious metal jewellery versus wearing more precious metal jewellery than costume jewellery, by age, June 2010
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- Figure 45: Wearing more costume jewellery than precious metal jewellery versus wearing more precious metal jewellery than costume jewellery, by social group, June 2010
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- Figure 46: Attitudes towards costume jewellery, June 2010
- Jewellery to match an outfit
- Impulse buying
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- Figure 47: Buy inexpensive jewellery as a treat or on impulse, by age and socio-economic group, June 2010
- Value buyers
- Treating themselves
- Costume jewellery is trendier
- High-end costume jewellery worn by very few
The Consumer – Where Jewellery is Bought
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- Key points
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- Figure 48: Preferred outlets for buying jewellery, June 2010
- High street chains remain most popular
- ABs prefer independent jewellers
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- Figure 49: Independent jewellery shoppers, by age and socio-economic group, June 2010
- Argos loses ground
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- Figure 50: Argos jewellery shoppers, by age and socio-economic group, June 2010
- Young shop at high street costume jewellers
- Fashion stores draw impulse buyers
- Department stores
- Other outlets for jewellery
Target Groups
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- Key points
- Identifying targets
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- Figure 51: Target groups for jewellery, June 2010
- Accessorise to Maximise (17%)
- Who are they?
- Reaching this group
- Going for Gold (17%)
- Who are they?
- Reaching this group
- Swayed by silver (16%)
- Who are they?
- Reaching this group
- Plain Janes (50%)
- Who are they?
- Reaching this group
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- Figure 52: Amount of money prepared to spend on a watch for self, by target groups, June 2010
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- Figure 53: Attitudes towards watches, by target groups, June 2010
- Figure 54: Buying or receiving precious metal jewellery, by target groups, June 2010
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- Figure 55: Buying or receiving costume jewellery, by target groups, June 2010
- Figure 56: Where jewellery is bought, by target groups, June 2010
Appendix – Internal Market Environment
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- Figure 57: Ownership of jewellery, by demographics, 2009
- Figure 58: Ownership of jewellery, by demographics, 2009
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- Figure 59: Ownership of jewellery, by demographics, 2009
- Figure 60: Cost of other gold or platinum jewellery, by demographics, 2009
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- Figure 61: Cost of silver jewellery, by demographics, 2009
- Figure 62: Cost of other jewellery, by demographics, 2009
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- Figure 63: Ownership of watches, by demographics, 2009
- Figure 64: Statements on watches, by most popular amount of money prepared to spend on a watch for self, June 2010
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- Figure 65: Statements on watches, by next most popular amount of money prepared to spend on a watch for self, June 2010
- Figure 66: Amount of money prepared to spend on a watch for self, by demographics, June 2010
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Appendix – Amount Spent on Watches
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- Figure 67: Amount of money prepared to spend on a watch for self, by most popular statements on watches, June 2010
- Figure 68: Amount of money prepared to spend on a watch for self by most popular statements on watches, June 2010
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Appendix – Attitudes Towards Shopping for Watches
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- Figure 69: Attitudes towards watches, by demographics, June 2010
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Appendix – Attitudes Towards Buying Precious Metal Jewellery
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- Figure 70: Preferred outlets for buying jewellery, by attitudes towards buying or receiving precious metal jewellery, June 2010
- Figure 71: Preferred outlets for buying jewellery, by attitudes towards buying or receiving precious metal jewellery, June 2010
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- Figure 72: Preferred outlets for buying jewellery, by attitudes towards buying or receiving precious metal jewellery, June 2010
- Figure 73: Attitudes towards buying or receiving precious metal jewellery, by demographics, June 2010
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- Figure 74: Attitudes towards buying or receiving precious metal jewellery, by demographics, June 2010 (continued)
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Appendix – Attitudes Towards Buying Costume Jewellery
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- Figure 75: Preferred outlets for buying jewellery, by attitudes towards buying or receiving costume jewellery, June 2010
- Figure 76: Preferred outlets for buying jewellery, by attitudes towards buying or receiving costume jewellery, June 2010
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- Figure 77: Attitudes towards buying or receiving costume jewellery, by demographics, June 2010
- Figure 78: Attitudes towards buying or receiving costume jewellery, by demographics, June 2010 (continued)
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- Figure 79: Attitudes towards buying or receiving costume jewellery, by demographics, June 2010 (continued)
- Figure 80: Attitudes towards buying or receiving costume jewellery, by demographics, June 2010 (continued)
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Appendix – Where Jewellery is Bought
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- Figure 81: Most popular outlets to buy jewellery, by demographics, June 2010
- Figure 82: Most popular outlets to buy jewellery, by demographics, June 2010
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- Figure 83: Most popular outlets to buy jewellery, by demographics, June 2010 (continued)
- Figure 84: most popular outlets to buy jewellery, by demographics, June 2010 (continued)
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Appendix – Target Groups
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- Figure 85: Target groups, by demographics, June 2010
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