Jewellery retailers are to use retail branding as a key weapon against one another as competition increases, according to a report published this week. This follows an upturn in jewellers’ fortunes after a long slump.
Verdict on Jewellery Retailers 1998 predicts a growth in middle-aged customers will boost the 2.7bn market by 3 per cent by 2005, with another 10 per cent of growth possible from their increased disposable income.
The more expensive end of the jewellery market has seen the most impressive growth so far, with stores such as Argos now claiming much of the market for cheaper products.
“Companies in the lower half of the market have relied too long on price alone,” claims the report. It predicts retailers will attempt to differentiate their offers via improved branding.