Costume Jewellery and Fashion Accessories: Industry Report 2011
The jewelry and Fashion Accessories industry has been reasonably optimistic for the past two years despite the global recession. I will explain the reasons for this and discuss the prospects for 2011 and beyond. fashion style and trends
Costume jewelry (or costume jewelry as it is also called) can be defined as any jewel made of non-precious metals such as gold Fashion Accessories. It usually does not contain precious or semi-precious stones or pearls, although in some advanced cases it can, especially in the designer jewelry market. This is not to say that it’s always cheap, old pieces by Kenneth Jay Lane (known as the father of costume jewelry) have been known to sell at Christie’s and Sotheby’s for thousands of pounds, although new pieces are much more affordable of Fashion Accessories. In general, however, mass-market items can be sold for between $ 1 and $ 100. Types of jewelry include earrings, necklaces, bracelets, brooches, cuffs, and rings.
Costume jewelry accessories fashion
‘Fashion accessories’ is a broader term that includes not only costume jewelry, but also bags, hair accessories such as headgear, scarves, and belts. Jewelry accounts for more than 30% of the total fashion accessories market, and handbags are the other major contributor, around (or just below) this level.
After years of steady growth in the industry. The global recession contributed a 3% drop in retail sales in 2009 to $ 30.7 billion. The expected figures for 2010 are more positive, with sales recovering to $ 32.2 billion. . Heavier-than-expected snowfall and lower temperatures in Western Europe in the run-up to Christmas could lead to a minor downgrade to this estimate, as retailers missed important sales days Fashion Accessories.
US and European markets accessories fashion
Companies in this sector should be optimistic about the outlook for 2011 and beyond; The positive indicators that the industry will grow are as follows:
• As mentioned above, despite slow growth in key US and European markets. The industry not only managed to recover retail sales from the downturn in 2009. But also to return to pre-crisis pre-crisis growth levels of Fashion Accessories.
• Tightening measures in large parts of Europe are likely to keep consumer spending under control. However, smart retailers can take advantage of these Fashion Accessories, marketing to consumers who shop down. Value for money is likely to be the key factor in an era of austerity; In the UK, ALDI flourished thanks to customers who traded with Marks and Spencers. Although I do not compare the jewelry industry with ALDI, I hope you can see my point.
Luxury at an affordable accessories fashion
As a result, brands that can offer luxury at an affordable price of Fashion Accessories are likely to thrive. For many jewelry brands, affordable luxury is one of the main selling points. An example outside of the affordable luxury industry that thrives in tough economic times is Costa Coffee. Which has seen strong results in recent years as many consumers continue to buy as a “gift”.
• The new markets such as China and India offer great potential for strong brands. Growth in these economies remained strong in 2010 and is likely to continue, albeit at a slightly slower pace. As much of the world’s mass-produced costume jewelry and fashion accessories are manufactured in these emerging economies, companies need to research their supply chain and marketing to get the most out of this opportunity. Reducing shipping costs and selling directly at the place of origin is certainly a goal worth striving for.
• The price of gold and other precious metals is still very high in Fashion Accessories. Gold has risen over the last decade from $ 255 per tonne. Ounce in 2001 to a high level of $ 1,422.60 this year. Silver is a similar story, if not quite so dramatic. This means that costume jewelry has a better value compared to traditional jewelry metals.