Thursday, 14th December 2006 (3326 views)

Experts from the jewellery world have predicted that the growth in global demand for jewellery may slow unless action is taken to boost sales and have given the industry targets to implement.

The Global Gems and Jewellery: Vision 2015: Transforming for Growth paper was produced by management consultants KPMG in conjunction with the Gem and Jewellery Export Promotion Council of India.

It says that the current rate of industry growth each year may fall from the current 5.2 per cent recorded since 2000, to 4.6 per cent by 2015.

Some of the trends discussed in the paper are the decline in demand for plain gold jewellery, the intense competition from other luxury goods and the fragmentation of supply sources.

The good news is that it stresses that if the industry's unified commitment to growing demand for jewellery is successful, then sales could reach $280 billion (£142 billion) in 2015, amounting to an annual growth rate of 6.7 per cent.

According to the report, old and diamond jewellery continues to dominate the market and accounts for 82 per cent of all gems and jewellery sold.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.