Jewelry to invade the business ecosystem

A glittering future awaits the jewelry industry in recent times. The global sales structure that has been 148 Billion euro is expected to experience steady growth of 5 to 6 percent and achieve a net worth of 250 Billion euro by the year of 2020. The consumer demand for jewelry that was hugely damaged by the global recession now appears to be spreading its wings all across the world. The industry of silver as it stands is very dynamic and is growing at a breakneck pace. Changes are being observed both in terms of production and consumer behavior itself.

An overview

To chart out the possible path of the jewelry industry, the analysis of publicly available data, study of fashion and bridal jewelry companies, the interview of executives and officials who are involved with the fine and fashion jewelry companies must always be conducted. The research will still indicate the fact that there have been prevalently five trends that have shaped the size and structure of the jewelry industry over the past thirty years. A quick change in fashion trends, hybrid consumption of jewelry, and gradual growth of the branded products, reconfiguration of the channel landscape and internationalization and consolidation have been the primary reasons for the same. So, these are the main factors that jewelry companies must always refer to achieve sustainability in the market.

Consolidation of the Industry

bridal jewelery

All the national apparel brands all across the world in the 1980s were held as prominent leaders in their respective markets. Marks & Spencer in the United Kingdom and C&A in Germany can be kept as clear examples in this regard. Zara and H&M are two of the various international brands that have been successful in outrunning these national brands and have equal market share globally today. Also, there have been the emergences of many of the national brands that have started selling outside their country. For example, Hugo Boss is one of those apparel brands that have a presence out Germany as well.

Growth of the Branded Jewelry Industry

brand jewelry

On a comparative study, it is seen that the sales of the branded items in the watch market accounts to sixty percent where when it comes to fashion and bridal jewelry, it only accounts to only 20 percent of the sales in the international market. Since the year 2003, the share, however, has doubled. All the executives and professionals belonging to the jewelry industry claim that the percentage will further increase by the year 2020 but as to how the shift will take place is based on varied opinions. Most of the industry veterans claim that the market share for the branded jewelry market will account from thirty to forty percent of the global market by the year 2020.

Conclusion

The jewelry market is on the rise as it can be seen all over the world. The acceptance of the population towards the changing trends in the jewelry industry is getting reflected from time to time. Now, it is not under question whether the industry will yield further profits or not, the problem is in what ways will the development of this industry will affect the economy of a nation and finally the global economy as well.

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