Table of Contents
Introduction
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- Definitions
- Abbreviations
Executive Summary
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- The market
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- Figure 1: Best- and worst-case forecast value sales of watches and jewellery, 2008-18
- Market remains flat
- Market factors
- Hallmarked gold volumes continue to drop
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- Figure 2: Average price of gold and platinum, 2003-12
- Source: Kitco/Mintel
- Silver sees the biggest change
- Mobile phone ownership
- The Consumer
- Under-45s most likely to buy themselves a watch
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- Figure 3: Purchasing of watches, precious metal jewellery and costume jewellery, for self or someone else in the last five years, July 2013
- Women opt to buy costume jewellery
- Silver is the preferred precious metal
- Where precious metal jewellery is bought
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- Figure 4: Preferred outlets for buying precious metal jewellery, July 2013
- Independents attract over-45s
- Where watches are bought
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- Figure 5: Preferred outlets for buying watches, July 2013
- Figure 6: Attitudes towards buying precious metal jewellery, July 2013
- A third choose unique designs
- Young are most cost-conscious
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- Figure 7: Attitudes towards buying watches, July 2013
- Women gifted watches more than men
- Growth in fashion watches
- Browsing and buying online
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- Figure 8: Attitudes towards shopping in-store and online for precious metal jewellery/costume jewellery/watches, July 2013
- Under-44s see benefits of online
- What we think
Issues in the Market
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- Which areas are performing best for the watches market?
- How has the growth in popularity of costume jewellery impacted the precious jewellery market?
- To what extent do consumers buy watches and jewellery online?
- How is new technology affecting the traditional watches market?
- How has the luxury-end of the market performed?
Trend Applications
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- Trend: Why Buy
- Trend: The Nouveau Poor
- Mintel Futures: Old Gold
Market Drivers
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- Key points
- Gold prices stabilise in 2012
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- Figure 9: Average price of gold and platinum, 2003-12
- Hallmarked gold volumes continue to drop
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- Figure 10: Weight of gold hallmarked by all UK assay offices, 2003-12
- Silver sees the biggest change
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- Figure 11: Number of hallmarks applied by four UK assay offices, 2011-13
- Figure 12: Average price of silver, 2000-12
- Popularity of palladium grows
- Conflict diamonds
- Demographics that will impact growth
- Mobile phone ownership
Strengths and Weaknesses in the Market
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- Strengths
- Weaknesses
Who’s Innovating
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- Key points
- Fashion watches and jewellery
- Smart watches
- New brands launching in the UK
- New concept stores
- Rising demand for pre-owned watches
- Advertising campaigns
- Celebrity ambassadors
- Technology
- Bespoke jewellery
- Charity campaigns
Competitive Context
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- Key points
- Jewellery and watches underperform other fashion sectors
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- Figure 13: UK retail value sales of clothing, footwear and adornment, 2008-13
- Jewellery and watches account for 8% of the fashion sector
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- Figure 14: UK retail value share of clothing, footwear and adornment, 2013
Market Size and Forecast
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- Key points
- Market remains flat
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- Figure 15: Best- and worst-case forecast value sales of watches and jewellery, 2008-18
- The future
- Watches and jewellery to grow by 5% over the next five years
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- Figure 16: Value sales of watches and jewellery, at current and constant prices, 2008-18
- Factors used in the forecast
Segment Performance
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- Key points
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- Figure 17: UK retail value sales of jewellery and watches by sector, 2008-13
- Precious metal jewellery
- Watches
Retail Competitor Analysis
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- Key points
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- Figure 18: Jewellery retailers, by number of outlets, 2008-2013
Companies and Products
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- Signet Group
- Company overview
- Retail offering
- Financial performance/brand share
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- Figure 19: Key financials for Signet Group UK, 2012 and 2013
- Recent developments
- Advertising/marketing
- Tiffany & Co
- Company overview
- Retail offering
- Financial performance
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- Figure 20: Key financials for Tiffany & Co Ltd, 2011 and 2012
- Advertising/marketing
- Warren James
- Company overview
- Retail offering
- Financial performance
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- Figure 21: Key financials for Warren James (Jewellers) Ltd, 2011 and 2012
- Aurum Holdings
- Company overview
- Retail offering
- Financial performance
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- Figure 22: Key financials for Aurum Holdings Limited, 2012 and 2013
- Advertising and marketing
- Links of London
- Company overview
- Retail offering
- Financial performance
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- Figure 23: Key financials for Links (London) Limited, 2010 and 2011
- Advertising and marketing
The Consumer – Ownership and Purchasing of Watches & Jewellery
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- Key points
- Ownership
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- Figure 24: Ownership of watches, precious metal jewellery and costume jewellery, July 2013
- Purchases by type of jewellery
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- Figure 25: Purchasing of watches, precious metal jewellery and costume jewellery, for self or someone else in the last five years, July 2013
- Three quarters of Britons own a watch
- Watch self-purchases twice as high as gifting
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- Figure 26: Purchasing of watches, for self or someone else, by demographics, July 2013
- Under-45s most likely to buy themselves a watch
- Watch gift buying peaks among 45-54s
- Seven in ten women own gold and silver jewellery
- Women opt to buy costume jewellery
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- Figure 27: Purchasing of precious metal jewellery and costume jewellery bought for yourself in the last five years, by demographics, July 2013
- Silver is the preferred precious metal
- Women buy silver as gifts
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- Figure 28: Purchasing of precious metal jewellery and costume jewellery bought for someone else in the last five years, by demographics, July 2013
- Men still favour precious metals as gifts
- Palladium ownership remains low
The Consumer – Where are Jewellery and Watches Bought?
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- Key points
- Where precious metal jewellery is bought
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- Figure 29: Preferred outlets for buying precious metal jewellery, July 2013
- High street jewellery chains lead
- Argos peaks among DEs
- Independents attract over-45s
- Online jewellery buyers
- Men and parents favour premium chains
- Department stores popular with older parents
- One in seven women buy from fashion stores
- Over-55s are main TV shopping channel customers
- Where watches are bought
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- Figure 30: Preferred outlets for buying watches, July 2013
- Two fifths buy online
- A third buy watches from jewellery chains
- One in ten buy from watch specialists
- Women twice as likely to have bought from a fashion store
The Consumer – Attitudes towards Buying Precious Metal Jewellery
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- Key points
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- Figure 31: Attitudes towards buying precious metal jewellery, July 2013
- A third choose unique designs
- Young are most cost-conscious
- A quarter buy costume jewellery instead
- High interest in hallmarking
- Young show interest in ethical jewellery
- Treat purchases
- Demand for recycling old jewellery into new pieces
- One in ten buy silver rather than gold
The Consumer – Attitudes towards Buying Watches
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- Key points
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- Figure 32: Attitudes towards buying watches, July 2013
- Only half of watch owners wear it most of the time
- Watch wearing habits
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- Figure 33: Attitudes towards buying watches, July 2013
- Women gifted watches more than men
- Growth in fashion watches
- Men see watches as a status symbol
- One fifth prefer specialist watch brands
- Young prefer to use other devices
The Consumer – Attitudes towards Shopping for Watches & Jewellery In-Store and Online
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- Key points
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- Figure 34: Attitudes towards shopping in-store and online for precious metal jewellery/costume jewellery/watches, July 2013
- Browsing and buying online
- Seeing and trying on are main barriers to online
- Women and men like to see watches before buying
- ABs value help from assistants in-store
- Under-44s see benefits of online
- Women worry about buying fake jewellery
- Security when buying online is not a concern
Appendix – Market Size and Forecast
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- Figure 35: Best- and worst-case forecast value sales of watches and jewellery, 2013-18
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Appendix – The Consumer – Ownership and Purchasing of Watches and Jewellery
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- Figure 36: Ownership of watches, precious metal jewellery and costume jewellery, by demographics, July 2013
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- Figure 37: Purchasing of watches, precious metal jewellery and costume jewellery – Bought for myself in the last five years, by demographics, July 2013
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- Figure 38: Purchasing of watches, precious metal jewellery and costume jewellery – Bought for someone else in the last five years, by demographics, July 2013
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Appendix – The Consumer – Where are Watches & Jewellery Bought?
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- Figure 39: Most popular preferred outlets for buying precious metal jewellery, by demographics, July 2013
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- Figure 40: Next most popular preferred outlets for buying precious metal jewellery, by demographics, July 2013
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- Figure 41: Other preferred outlets for buying precious metal jewellery, by demographics, July 2013
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- Figure 42: Most popular preferred outlets for buying watches, by demographics, July 2013
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- Figure 43: Next most popular preferred outlets for buying watches, by demographics, July 2013
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- Figure 44: Preferred outlets for buying precious metal jewellery, by most popular attitudes towards shopping in-store and online for precious metal jewellery, July 2013
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- Figure 45: Preferred outlets for buying precious metal jewellery, by next most popular attitudes towards shopping in-store and online for precious metal jewellery, July 2013
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- Figure 46: Preferred outlets for buying precious metal jewellery, by most popular attitudes towards shopping in-store and online for costume jewellery, July 2013
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- Figure 47: Preferred outlets for buying precious metal jewellery, by next most popular attitudes towards shopping in-store and online for costume jewellery, July 2013
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- Figure 48: Preferred outlets for buying precious metal jewellery, by most popular attitudes towards shopping in-store and online for watches, July 2013
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- Figure 49: Preferred outlets for buying precious metal jewellery, by next most popular attitudes towards shopping in-store and online for watches, July 2013
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- Figure 50: Preferred outlets for buying watches, by most popular attitudes towards shopping in-store and online for precious metal jewellery, July 2013
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- Figure 51: Preferred outlets for buying watches, by next most popular attitudes towards shopping in-store and online for precious metal jewellery, July 2013
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- Figure 52: Preferred outlets for buying watches, by most popular attitudes towards shopping in-store and online for costume jewellery, July 2013
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- Figure 53: Preferred outlets for buying watches, by next most popular attitudes towards shopping in-store and online for costume jewellery, July 2013
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- Figure 54: Preferred outlets for buying watches, by most popular attitudes towards shopping in-store and online for watches, July 2013
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- Figure 55: Preferred outlets for buying watches, by next most popular attitudes towards shopping in-store and online for watches, July 2013
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- Figure 56: Preferred outlets for buying watches, by most popular attitudes towards buying watches, July 2013
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- Figure 57: Preferred outlets for buying watches, by next most popular attitudes towards buying watches, July 2013
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- Figure 58: Attitudes towards buying precious metal jewellery, by most popular preferred outlets for buying precious metal jewellery, July 2013
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- Figure 59: Attitudes towards buying precious metal jewellery, by next most popular preferred outlets for buying precious metal jewellery, July 2013
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- Figure 60: Attitudes towards buying precious metal jewellery, by other preferred outlets for buying precious metal jewellery, July 2013
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- Figure 61: Preferred outlets for buying watches, by most popular attitudes towards buying watches, July 2013
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- Figure 62: Preferred outlets for buying watches, by next most popular attitudes towards buying watches, July 2013
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- Figure 63: Preferred outlets for buying precious metal jewellery, by retailers where clothes have been bought in-store or online in the last 12 months, July 2013
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Appendix – The Consumer – Attitudes Towards Buying Precious Metal Jewellery
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- Figure 64: Most popular attitudes towards buying precious metal jewellery, by demographics, July 2013
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- Figure 65: Next most popular attitudes towards buying precious metal jewellery, by demographics, July 2013
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Appendix – The Consumer – Attitudes Towards Buying Watches
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- Figure 66: Most popular attitudes towards buying watches, by demographics, July 2013
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- Figure 67: Next most popular attitudes towards buying watches, by demographics, July 2013
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Appendix – The Consumer – Attitudes Towards Shopping for Watches & Jewellery In-store and Online
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- Figure 68: Most popular attitudes towards shopping in-store and online for precious metal jewellery, July 2013
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- Figure 69: Next most popular attitudes towards shopping in-store and online for precious metal jewellery, July 2013
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- Figure 70: Other attitudes towards shopping in-store and online for precious metal jewellery, July 2013
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- Figure 71: Most popular attitudes towards shopping in-store and online for costume jewellery, July 2013
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- Figure 72: Next most popular attitudes towards shopping in-store and online for precious costume jewellery, July 2013
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- Figure 73: Other attitudes towards shopping in-store and online for precious costume jewellery, July 2013
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- Figure 74: Most popular attitudes towards shopping in-store and online for watches, July 2013
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- Figure 75: Next most popular attitudes towards shopping in-store and online for watches, July 2013
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- Figure 76: Other attitudes towards shopping in-store and online for watches, July 2013
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