Jewellery and Watches Retailing - UK - September 2016
“The jewellery and watches market in 2016 has been boosted by an increase in spend from overseas visitors taking advantage of the favourable exchange rates. There have been continued strong sales of watches and resilient demand for precious metal jewellery, yet the costume jewellery segment remains weak.”
– Alice Goody, Retail Analyst
This report looks at the following areas:
- How has the jewellery and watches market fared?
- How is the smartwatches market developing?
- How might Brexit have an impact on the jewellery and watches market?
Looking ahead we forecast that the market will continue to perform well as gifting drives demand for jewellery and watches, along with self-purchases among young consumers. While the fashion watches category may suffer as a result of the rising demand for smartwatches among the young, weddings and engagements will continue to be a reliable source of sales in the precious metal jewellery segment.
This Report examines the UK jewellery and watches retailing market for men and women aged 16 and over. The Report covers:
- Precious metal jewellery ie jewellery made with precious metals such as gold, silver, platinum, palladium, titanium etc.
- Costume jewellery markets ie jewellery made from non-precious metals.
- Watches, including mechanical watches powered by means of a mainspring which is either wound up manually or, in an automatic watch, by the rotor being constantly actuated by the motion of the wearer’s arm; quartz movement watches powered by a battery-driven electrical pulse that brings the quartz into oscillation, which then controls the stepping motor, driving the watch. This group also includes battery-less quartz watches which use light or the wearer’s movements to run; and a third type that combines a quartz movement with micro-mechanics for additional features.
- Smartwatches – a wrist-worn device that uses wearable technology and shows notifications from a smartphone.
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