Chain brands to lead growth in Luxury Jewellery Market in Germany: Ken Research
Posted on 29 June 2017 by KenResearch Consumer Products and Retail,
There was a 2% growth in sales of luxury jewellery in Germany, in 2016. As the interest on cash saving is low, people of Germany tend to buy luxury jewellery with the objective of investment. This type of investment was seen very popular in Germany and it became a factor of increase in growth of luxury jewellery. Germany showed a growth in costume jewellery and fine jewellery alike. Premium and luxury products like gold and diamond, individualized and customized products, were the main drivers for growth because of increase in demand. People of Germany like to own an exclusive piece which is designed in a special way and which interprets a special message and meaning. It creates a benefit foe them with a higher average unit price, fine jewellery earned a decent amount of growth in 2016. There is growth in new product launches, more focus on consumer demand and growth in outlet numbers. There was a 44% growth of Pandora jewellery GmbH and was able to reach over the share value of 6%. The company was registered with fastest value growth leaving behind Douglas Holdings Christ and Cartier as compared to German jewellery.
Chain brands have a great participation in the growth of luxury jewellery market. There would be development by many members of the jewellery trade organization for jewellery value sales and volume in Germany in future as well. Production of consumer traffic for retailers, which influence the sales opportunities and potential growth, is the main issue, which was investigated.
According to the market research report Luxury "Jewellery in Germany", the overall jewellery sector is growing on faster pace. In addition, it has a glittering future as well. It is a fast growing and dynamic industry. Industry is managing to understand the consumer behavior and change in trends. Over the past 30 years, the industry has seen a good amount of growth, as there was internationalization and consolidation. These factors have changed the present as well as the future of jewellery industry. Branded jewellery accounted to capture 20% of overall jewellery market worldwide in 2001 and now the share is more than double. Branded jewellery has captured almost the full market and will continue do it in future. There is a significant decrease in customer frequency in city centers and shopping centers over a period and it is also expected to decline in future as well. The impact is noticeable and it is expected to intensify over the forecast period because jewellery sales are still mainly store-based.
There is long and rich history of jewellery making in Germany. Which is primarily centered on the town of Pforzheim and located in the state of Baden-Württemberg, Pforzheim's making jewellery industry has earned the town. Colette in Paris, Dover Street Market in London and Maxfield in Lacada is an impressive list of retailers that has amassed throughout the globe in the since 20 years. Annette and Herbert Kopp (husband and wife) had set up a team who met at the Academy of Fine Arts in Munich where she was training to be a silversmith and he was studying painting. Edgy, glamorous pieces which is featuring motifs such as angels, demons, Buddhas, flowers, and snakes was produced by Creativity, Arts Designs and Anarchy (CADA).
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