Jewellery not just for gifting: Rise in Woman Buying Jewellery for Themselves Adds Sparkle to UK Fine Jewellery Sales

Jewellery not just for gifting:  Rise in Woman Buying Jewellery for Themselves Adds Sparkle to UK Fine Jewellery Sales
  • UK fine jewellery sales grew to £3.2billion in 2017*
  • Predicted to rise to £3.3billion by end of 2018, up 12% in five years*

PRESS RELEASE. LONDON: 31 August 2018: The retail value of the UK fine jewellery industry rose for the fourth successive year to a high of GBP£3.2billion in 2017, Euromonitor International, a market research provider, will reveal at International Jewellery London, the UK’s leading jewellery trade show, on Sunday 2 September.

According to Euromonitor, all categories of fine jewellery; rings, neckwear, wristwear and earrings have grown, with necklaces showing the largest (10%) uplift over the 2014 – 2018 period. Overall, rings are still the biggest category of fine jewellery sales in the UK worth £1.39bn in 2017, predicted to rise further to £1.435bn by the end of 2018, while watches saw the slowest growth with 2% retail value increase in 2017.

UK Jewellery industry retail value is predicted to rise again in 2018 to reach GBP £3.3 billion.

Journalist and former British Vogue editor, Alexandra Shulman, writing in International Jewellery London Inspire magazine, commented: “The new big sector in the jewellery market is women buying for themselves. No longer do we feel… a piece is somehow of greater worth if it has been gifted. Instead fine jewellery is becoming one of the most popular ways women reward themselves for a moment of career success, or celebrate a personal event.” 

Helen Clifford, Marketing & Social Media Manager at IJL, said: “IJL showcases and celebrates the international jewellery industry so we are pleased to see these growth figures for the UK market. Over the three days of IJL retailers, manufacturers, designers and others in the UK jewellery trade from the UK and across the world will gather together to learn more about jewellery trends and to do business.”

Alongside the rise in self-purchasing, Euromonitor International will discuss the impact of foreign spend on luxury jewellery sales in the UK and abroad, “Jewellery overview and impact of travel” on Sunday 2nd September @ IJL, 11:45am at Inspiration Theatre.

IJL will return to Olympia, Kensington, 2-4 September 2018, with an expanded events programme. IJL is an unrivalled opportunity for the international jewellery trade to network and find out about the latest industry trends and market developments, which will help retailers and suppliers make intelligent commercial decisions.

More than 550 exhibitors and 10,000 visitors from over 50 countries are expected to attend and will bring a wide range of expertise.

*Figures are supplied by Euromonitor International, a market research provider.

 

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