Table of Contents
Introduction and Abbreviations
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- Definitions
- Research methodology
- Consumer research
- ACORN
- Other research
- Abbreviations
Executive Summary
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- High levels of consumer confidence driving growth
- Precious jewellery is the dominant segment
- PDI and consumer spending growth
- Retailers must encourage trophy buying
- Fashion will help boost the market for younger consumers
- Gold price rise has not been reflected in wholesale prices
- Growth in working women good for jewellery
- Falling rate of weddings and births plays against traditional jewellery
- Fashion plays larger role
- Retailers freshening up ranges
- Brands and designers becoming more important to jewellery
- Retailer brands also raising their profile
- Watch wardrobes more commonplace
- More men’s jewellery
- Purchasing levels rise
- Retailers used for jewellery and watches
- Wearing levels for jewellery roughly static
- Wealthier consumers prefer specialists
- Main shopper types
- Where the shopper types shop
- Top retailers
- Signet sales growth driven by Ernest Jones
- Goldsmiths also redesigning
- Beaverbrooks and Fraser Hart expanding strongly
- Discount/value jewellers having mixed fortunes
- Argos leads the way
- Asda on the expansion trail
- Department stores adding designer names
- Store design and stylish jewellery for future success
- Women will feel more liberated to buy for themselves
- Retailers will continue to polarise
Retail Sales
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- Figure 1: All retail sales, at current and constant 1995 prices, 1995-2003
- Figure 2: Retail sales in other specialist stores, at current and constant 1995 prices, 1995-2003
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Sector Structure
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- Figure 3: Number of retail jewellers, 1996-2003
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Consumer Expenditure
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- Total market for jewellery and watches
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- Figure 4: Consumer spending on jewellery and watches, at current and constant 1998 prices, 1998-2003
- Figure 5: Consumer spending on jewellery and watches, at current and constant 1998 prices, 1998-2003
- Market by product sector
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- Figure 6: Consumer spending on jewellery and watches, by product sector, 2000 and 2002
- Figure 7: Breakdown of jewellery and watches market, 2002
Market Factors
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- The economy
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- Figure 8: PDI, consumer expenditure, 1998-2007
- Age of population
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- Figure 9: Demographic trends with projections, by age, 1998-2007
- Gold and silver prices
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- Figure 10: Gold and silver prices, 1998-2003
- Working women
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- Figure 11: Workforce in employment in the UK, by gender, 1998-2007
- Weddings and births
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- Figure 12: Births and weddings, trends and projections, 1997-2007
- The role of fashion
- Designers and brands
- Men wearing and owning jewellery
The Consumer
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- Five-year trend in jewellery and watch purchasing
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- Figure 13: Purchasing of jewellery and watches in the last 12 months, 1999-2003
- Purchasing of jewellery by type
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- Figure 14: Purchasing of jewellery, by type, 1999-2003
- Figure 15: Purchasing of watches, 1999-2003
- Source of jewellery and watch purchases
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- Figure 16: Source of jewellery and watch purchases in the last 12 months, June 2003
- Source of purchases by gender, age and socio-economic group
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- Figure 17: Source of jewellery and watch purchases in the last 12 months, specialist jewellers, catalogue retailers and department/variety stores, by gender, age and socio-economic group, June 2003
- Home shopping attracts roughly equal numbers of men and women
- Fashion accessory and clothing stores show a young female bias
- Duty free and abroad biased towards middle aged ABs
- Older, more affluent women use antique shops and craft markets
- Four in ten consumers have not bought
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- Figure 18: Source of jewellery and watch purchases in the last 12 months, accessories/clothing stores, other sources, duty free/abroad, mail order/Internet/TV and those not buying, by gender, age and socio-economic group, June 2003
- Source of purchases by lifestage, presence of children and Mintel’s special groups
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- Figure 19: Source of jewellery and watch purchases in the last 12 months, specialist jewellers, catalogue retailers and department/variety stores, by lifestage, presence of children in household and Mintel’s Special Groups, June 2003
- Figure 20: Source of jewellery and watch purchases in the last 12 months, fashion accessorie/clothing stores, other sources, duty free/abroad, mail order/Internet/TV, and those not buying, by lifestage, presence of children in household and Mintel’s Special Groups, June 2003
- Source of purchases by marital status, working status, household size and tenure
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- Figure 21: Source of jewellery and watch purchases in the last 12 months, specialist jewellers, catalogue retailers and department/variety stores, by marital status, working status, household size and tenure, June 2003
- Figure 22: Source of jewellery and watch purchases in the last 12 months, fashion accessories/clothing stores, other sources, duty free/abroad, mail order/Internet/TV, and those not buying, by marital status, working status, household size and tenure, June 2003
- Source of purchases by region and ACORN category
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- Figure 23: Source of jewellery and watch purchases in the last 12 months, specialist jewellers, catalogue retailers and department/variety stores, by region and ACORN categories, June 2003
- Figure 24: Source of jewellery and watch purchases in the last 12 months, fashion accessory/clothing stores, other sources, duty free/abroad, mail order/Internet/TV, and those not buying, by region and ACORN categories, June 2003
- Source of purchases by media use
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- Figure 25: Source of jewellery and watch purchases in the last 12 months, specialist jewellers, catalogue retailers and department/variety stores, by media use, June 2003
- Figure 26: Source of jewellery and watch purchases in the last 12 months, mail order/Internet/TV, fashion accessory/clothing stores, duty free/abroad, other sources and those not buying, by media use, June 2003
- Summary of where consumers shopped
Consumer Attitudes and Typologies
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- Lifestyle statements about wearing jewellery
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- Figure 27: Agreement with lifestyle statements about jewellery, 2001-03
- Consumer attitudes towards shopping for jewellery and watches
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- Figure 28: Summary of consumer attitudes towards shopping for jewellery and watches, June 2003
- Agreement by gender, age and socio-economic group
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- Figure 29: Attitudes towards shopping for jewellery and watches, range at specialists, browsing, repair services, presentation, by gender, age and socio-economic group, June 2003
- Figure 30: Attitudes towards shopping for jewellery and watches, range at specialists, value at catalogue shops, attractive windows, branded jewellery/watches, marking special occasions, by gender, age and socio-economic group, June 2003
- Figure 31: Attitudes towards shopping for jewellery and watches, help from staff, information, ideas from catalogues and fashionable jewellery, by gender, age and socio-economic group, June 2003
- Agreement by working status, lifestage and Special Groups
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- Figure 32: Attitudes towards shopping for jewellery and watches, range at specialists, browsing, repair services, presentation, by working status, lifestage and Mintel’s Special Groups, June 2003
- Figure 33: Attitudes towards shopping for jewellery and watches, range at specialists, value at catalogue shops, attractive windows, branded jewellery/watches, marking special occasions, by working status, lifestage and Mintel’s Special Groups, June 2003
- Figure 34: Attitudes towards shopping for jewellery and watches, help from staff, information, ideas from catalogues and fashionable jewellery, by working status, lifestage and Mintel’s Special Groups, June 2003
- Agreement by region and ACORN categories
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- Figure 35: Attitudes towards shopping for jewellery and watches, range at specialists, browsing, repair services, presentation, by region and ACORN categories, June 2003
- Figure 36: Attitudes towards shopping for jewellery and watches, range at specialists, value at catalogue shops, attractive windows, branded jewellery/watches, marking special occasions, by region and ACORN categories, June 2003
- Figure 37: Attitudes towards shopping for jewellery and watches, help from staff staff, information, ideas from catalogues and fashionable jewellery, by region and ACORN categories, June 2003
- Attitudes towards jewellery and watches by stores shopped
- Shoppers at H Samuel and Argos don’t want much help
- Shoppers at conventional jewellers want time to browse
- Department store shoppers like nice packaging
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- Figure 38: Attitudes towards shopping for jewellery and watches, by shoppers at specialist jewellers, catalogue retailers and department/variety stores, June 2003
- Home shoppers like to browse alone
- Those shopping at duty free or abroad show a branded bias
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- Figure 39: ttitudes towards shopping for jewellery and watches, by shoppers at fashion accessory/clothing stores, duty free/abroad, other sources and via mail order/Internet/TV, June 2003
- Correlation analysis
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- Figure 40: Similarity of consumers, correlation matrices, June 2003
- Customer typologies
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- Figure 41: Customer typologies for jewellery and watches, June 2003
- Characteristics of customer typologies
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- Figure 42: Customer typologies for jewellery and watches, by gender, age and socio-economic group, June 2003
- Figure 43: Customer typologies for jewellery and watches, by working status, lifestage and Mintel’s Special Groups, June 2003
- Figure 44: Customer typologies for jewellery and watches, by region and ACORN categories, June 2003
- Where the customer types shop for jewellery and watches
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- Figure 45: Outlets used for jewellery and watches, by customer type, June 2003
- Summary of research and recommendations
Retailer Market Shares
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- Figure 46: Breakdown of market shares of major retailers for jewellery and watches, 2002
- Figure 47: Breakdown of market shares of major retailers, 2001 and 2002
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Major Retailers
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- Figure 48: Summary of outlet numbers of jewellery retailers, 2001-03
- Specialist jewellers
- Signet Group (UK)
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- Figure 49: Signet (UK), number of stores and productivity, 1999-2003
- Figure 50: Signet (UK), stores data, by fascia, 2001-03
- Figure 51: Merchandise sales mix, 2001-03
- Figure 52: Signet Group (UK), financial performance, 1999-2003
- Goldsmiths
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- Figure 53: Goldsmiths, number of stores and productivity, 1998-2002
- Figure 54: Goldsmiths Ltd, financial performance, 1998-2002
- F Hinds
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- Figure 55: F Hinds, financial performance and number of stores, 1998-2002
- Beaverbrooks the Jewellers
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- Figure 56: Beaverbrooks The Jewellers ltd, financial performance and number of stores, 1998-2002
- Fraser Hart
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- Figure 57: Fraser Hart ltd, financial performance and number of stores, 1998-2002
- Half Price Jewellers
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- Figure 58: HPJ UK ltd, financial performance and number of stores, 1998-2002
- Mappin & Webb
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- Figure 59: MW Group Ltd, financial performance, 2001-02
- Warren James
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- Figure 60: Warren James ltd, financial performance and number of stores, 1998-2002
- Links of London
- Other jewellery specialists
- Small jewellery chains and independents
- Flagships
- Catalogue showrooms
- Argos
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- Figure 61: Argos, financial performance and number of stores, 1999-2003
- Index
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- Figure 62: Littlewoods, financial performance, 1998-2002
- Supermarkets
- Asda
- Tesco
- Department and variety stores
- Debenhams
- John Lewis
- House of Fraser
- Marks & Spencer
- Other department and variety stores
- Fashion accessories stores
- Claire’s Accessories
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- Figure 63: Claire’s Accessories UK ltd, financial performance, 1998-2002
- Accessorize
- Other fashion jewellery shops
- Clothing chains
- Next
- New Look
- Top Shop
- Other clothing stores
- Home shopping
- QVC
- Other home shopping
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Retail Practices and Operational Issues
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- Overview
- Growth sectors
- Growth retailers
- Pricing issues
- Home shopping
- Fashion trends
- Self-purchase
- Branding in jewellery and watches
- Custom design
- Staffing issues
- Seasonality
- Packaging
- Retail formats, store designs, window displays
- Advertising and promotion including leaflets
The Future
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- The market will be buoyant
- A self-reward culture
- Specialist retailers will reflect market polarisation
- Intense competition in low-priced precious jewellery
- Design flair vital for success at the top
- Premium goods will grow for the super-rich
- Overall numbers will decline
- Store design instrumental
- Service will improve further
- Marketing will play a vital role
- Distribution will broaden
- Real growth predicted in home shopping
- Brands important on several levels
- building brands in jewellery...
- …improve corporate branding in retailers
- Summary
Forecast
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- A bright future
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- Figure 64: Forecast of the UK market for jewellery and watches, at current and constant 2003 prices, 2003-07
- A polarising market
- Innovation and fashion trends
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- Figure 65: Forecast of the UK market for jewellery and watches, at current and constant 2003 prices, 2003-07
- Other factors play a part
- Retailers must do more to persuade non-buyers
- Factors incorporated
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