The Jewellery and Fashion industry has continued to be reasonably buoyant over the past 2 yrs regardless of the global downturn. I am likely to detail the reason why with this and discuss the prospects for 2011 and beyond.
Costume jewellery (or fashion jewellery, because it sometimes known), can be explained as any jewellery produced from non-gold and silver for example gold. Normally it doesn’t contain any precious or semi-stone or pearls either, although in certain high finish cases, it could, specially the designer jewellery market. This isn’t to state that it’s always affordable, Kenneth Jay Lane’s (referred to as god father of costume jewellery) vintage pieces, happen to be recognized to sell at Christie’s and Sotheby’s for a lot of money, although new pieces tend to be less expensive. Generally however, store bought products sell for anything between $1 and $100. Kinds of Costume Jewellery include earrings, necklaces, bracelets, brooches, cuffs and rings.
‘Fashion accessories’ is really a broader term which includes not just costume / fashion jewellery, but additionally includes bags, hair accessories for example fascinators, scarves and belts. Jewellery is stated to take into account over 30% from the overall ornament market with handbags another big contributor, around (or simply below), this level.
After many years of steady growth inside the industry, the worldwide downturn led to a 3% fall in retail sales for 2009 to $30.7 billion. Forecasted figures in 2010 tend to be more positive with sales rebounding to $32.2 billion [Source: Accessories Magazine]. Heavier than expected snowfalls, minimizing temperatures across The European Union within the increase to Christmas, can lead to a small downgrading of the estimate, as retailers lost crucial selling days.
The extensively recorded issues with the postal service especially in the United kingdom, might have affected occupy rates inside the online jewellery industry, as consumers fretted over delivery dates. Nonetheless, considering that development in the important thing costume jewellery markets of The United States and The European Union continues to be sluggish this year, any kind of positive growth is definitely an achievement.