Summer623

De BISAWiki

Costume Jewellery and Finishing touches: Industry Report 2011

Jewellery tattoos - The Jewellery and Fashion industry has stayed reasonably buoyant in the last two years despite the global downturn. I'll detail the reasons with this and discuss the prospects for 2011 and beyond.

Silver/Gold tattoos - Costume jewellery (or fashion jewellery, because it sometimes known), can be defined as any jewellery created from non-precious metals for example gold. Normally this doesn't contain any precious or semi-precious stone or pearls either, although in certain top quality cases, it may, especially the designer jewellery market. This is not to state it is always inexpensive, Kenneth Jay Lane's (referred to as god father of costume jewellery) vintage pieces, happen to be known to sell at Christie's and Sotheby's for thousands of pounds, although new pieces less difficult more affordable. Generally however, store bought items can sell for anything between $1 and $100. Forms of Costume Jewellery include earrings, necklaces, bracelets, brooches, cuffs and rings.

'Fashion accessories' can be a broader term that features not just costume / fashion jewellery, but additionally includes bags, hair accessories including fascinators, scarves and belts. Jewellery has been said to account for over 30% of the overall ornament market with handbags one other big contributor, about (or perhaps below), this level.

Fashion Accessories - After many years of steady growth within the industry, the global downturn brought about a 3% fall in retail sales for 2009 to $30.7 billion. Projected figures in 2010 tend to be more positive with sales rebounding to $32.2 billion [Source: Accessories Magazine]. Heavier than expected snowfalls, and lower temperatures across Western Europe within the increases to Christmas, can lead to a slight downgrading of this estimate, as retailers lost crucial selling days. The extensively recorded difficulties with the postal service mainly in the UK, could have affected use up rates within the online jewellery industry, as consumers fretted over delivery dates. Nevertheless, taking into account that rise in the important thing costume jewellery markets of North America and Western Europe has been sluggish in 2010, any sort of positive growth is definitely an achievement.

Companies in this particular sector needs to be bullish about the prospects for 2011 onwards; positive indicators how the industry will grow are as follows:

• As earlier mentioned despite sluggish rise in key US and European markets, the industry was able to not only recover retails sales in the 2009 fall, but returned to pre credit-crunch growth levels.

• Austerity measures across much of Europe will likely keep consumer spending under control. However smart retailers can engage in this, marketing to consumers who are trading down. Value for money is likely to be the important thing driver inside the chronilogical age of austerity; in the UK, ALDI thrived from customers who traded down from Marks and Spencers. Whilst I'm not comparing the Costume Jewellery industry to ALDI, you can hopefully see my point.

• Following on using this, brands that may offer affordable luxury are likely to prosper. For many Fashion Jewellery brands, affordable luxury is one of the key selling points. An example external to the of affordable luxury thriving during tough economic times, is Costa Coffee, who experienced strong results during the last couple of years as numerous consumers still buy like a 'treat'.

• Emerging markets including India and china, offer vast potential from strong brands. Development in these economies remained strong this year and is also more likely to continue, albeit with a slightly decreased rate. Because our planet's mass produced costume jewellery and fashion accessories are manufactured in these new economies, companies need to examine their logistics and marketing, to best capitalise about this opportunity. Cutting out the freight costs and selling directly at the point of origin is really a goal worth striving for.

• The price of gold along with other gold and silver remains quite high, Gold may be increasing throughout the last decade from $255 per ounce in 2001 with a most of $1422.60 this season. Silver can be a similar, or even as dramatic story. Which means that costume jewellery is much better value against the traditional jewellery metals.

Those positives and opportunities aside, there are certain challenges the face inside the pursuit of growth:

• The important thing challenge faced through the industry as well as by many people parts of the retail sector. is the rising world wide material costs. From copper to wheat, price is rocketing since the emerging economies, particularly China and India, enable their populations to move out of poverty.

• Wages in China are also rising, putting additional pressures on manufactures which will eventually filter as a result of retailers and customers.

• International pressure regarding their trade surplus and the looming threat of inflation, may even see China eventually raise the price of the Yuan leading again to increased purchase costs.

• Products, particular mid-market spends, are boosted with a large part of impulse buys. Replicating this spend in the web based jewellery space is a challenge that retailers need to face as much as. There is no simple answer, the kind of Amazon and ASOS spend hundreds of thousands annually on web design, to allow linking of items, and tricks to their customer. Smaller retailers need to also consider how they may innovate to optimize their sales.

Overall this is a challenging but exciting here we are at the Costume Jewellery and Finishing touches industry, I expect worldwide consumer spending within this sector to develop by between 4% and 5%, several new entrants to participate a and the continued expansion of online jewellery and accessories' sales. I am revisiting this website later in to find out if I am correct within my analysis.