Diamonds being the world’s major natural resource is used in both jewelry and industrial applications. The growth in demand for diamond-studded jewelry has been due to the strong economic growth in key diamond jewelry consuming nations and marketing efforts of diamond companies.
Traditionally, gold has held the leading position in most of the jewelry markets across the world because of its value as well as tradability factor. In 2008, although the total gold consumed as plain gold jewelry decreased in volume terms, the sales recorded gain in value terms. Demand for platinum jewelry has gained ground in the last few years, in not only the developed markets of the US and Europe but also in emerging markets like China and India, due to the ‘elite’ tag and ‘high-end’
Geographically, the US continues to be the largest consumer for gems and jewellery, followed by China/ India, the Middle East and Japan. In Europe, the UK and Italy are the largest consumers, and Italy is also one of the world’s largest jewelry fabrication centers. The emerging markets, like China, India which are traditional jewelry centers of consumption, are expected to develop as the largest consumption markets for both traditional as well as branded jewellery.
The report analyzes the trends and challenges of the gem and jewelry and also outlines the opportunities driving the present as well as future industry growth. The report focuses on the retail jewelry sales, different jewelry segments and future potential of the four large consumers of jewelry – the US, China, India and the UK. The report analyzes the sales trends, demand patterns and future outlook of the three major segments of the jewelry industry, i.e. platinum, gold and diamond. Further, the report profiles and assesses the performance of the major gems and jewelry companies (retail) – Gitanjali Gems Limited, Signet Jewelers Limited and Tsutsumi.
The report also talks about the future outlook of the industry and its growth. By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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