Jewellery in the United Kingdom - New Report Available
New Consumer Goods research report from Euromonitor International is now available from Fast Market Research
[USPRwire, Wed Oct 29 2014] Costume jewellery is outperforming real jewellery as new and exciting designers continuously enter the category. Costume jewellery also has an edge over real jewellery in that it has a much wider price range and can thus appeal to a much wider consumer segment. Items of costume jewellery can be purchased from fast fashion retailers such as H&M for as low as £5, while costume jewellery purchased from upmarket department store Liberty can be as expensive as £900. This adds excitement to the purchasing process and boosts the appeal of costume jewellery for many British consumers. In addition, many costume jewellery designers have recently been entering into partnerships with high-end apparel and footwear specialist retailers and mono-brand luxury goods retailers, which is often an excellent promotional tool for costume jewellery designers.
Goldsmiths remained the top player within jewellery in the UK in 2013 with a value share of 8%. Goldsmiths lost marginal value share in 2013 as its competitors Graff, H Samuel and Ernest Jones gained value share at its expense. Goldsmiths remains a leading player in jewellery due to its strong heritage as it is one of the oldest and most well-known jewellery manufacturers and retailers operating in the UK. The company has benefited from its reputation for high quality craftsmanship for several decades and also incorporates pieces from some of the star jewellery making students from Goldsmiths College of the University of London in its retail selection. Goldsmiths College was founded by the Worshipful Company of Goldsmiths, one of the London Guilds and the forebear of the modern commercial company Goldsmiths. These factors have served Goldsmiths well, although the company still needs to be aware of the stiff competition it faces from its high street retail competitors, which offer wedding specials and occasional special deals in order to attract customers.
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