Watch and Jewellery Retailing in Australia Industry Market Research Report Now Updated by IBISWorld
Melbourne, Australia (PRWEB) July 22, 2013 -- The Watch and Jewellery Retailing industry is expected to post annualised revenue growth of 2.2% over the five years through 2013-14. Despite the steady rise in revenue, industry performance has varied considerably over the past five years. Industry revenue grew solidly in 2008-09 and 2009-10, largely due the growing popularity of Pandora merchandise and growth in disposable incomes. In fact, Pandora is regarded as the biggest thing to happen to the industry. In contrast, industry revenue contracted in 2010-11 and 2011-12 due to the collapse of global financial markets and a drop in consumer sentiment. Industry trading conditions are expected to have improved in 2012-13, leading to a recovery in revenue levels. According to IBISWorld industry analyst Claudia Burgio-Ficca, “other factors affecting the industry's performance over the past five years include interest rate variations and trends in the world price of gold”.
Industry revenue is estimated to rise by 1.4% to $4.5 billion in 2013-14. Consumer demand for watch and jewellery products is expected to improve following the Federal Government elections (expected to take place over the second half of 2013). “Until then, retail spending across the industry is likely to remain weak due to political and consumer uncertainty regarding the future state of the economy,” says Burgio-Ficca. Weaker growth in disposable income, along with an increase in the official interest rate, may also hinder retail demand for watch and jewellery merchandise. However, revenue growth may by aided by an anticipated decline in the world price of gold, which is likely to support demand for gold jewellery throughout the year. Watch and jewellery retailing has exhibited a low level of market share concentration over the past five years. The two most significant players are Prouds Jewellers Pty Limited and Michael Hill International Limited.
In terms of profitability, the Watch and Jewellery Retailing industry is expected to perform well over the next five years. Profitability will likely be aided by a review of operating costs by jewellery stores and the possibility of some downward pressure on rent costs for retailers located in shopping centres. An increase in disposable income levels is expected to drive demand, which is likely to translate into stronger industry sales. Revenue growth may be hindered to some extent by volatility in consumer sentiment, interest rates and the world price of gold.
For more information, visit IBISWorld’s Watch and Jewellery Retailing report in Australia industry page.
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IBISWorld industry Report Key Topics
Industry operators primarily retail jewellery and watches that include precious metals, and/or precious and semiprecious gemstones. Industry operators are often regarded as retailers of fine jewellery and watches. Retailers that have an online presence are included in the industry. Businesses that primarily retail non-precious metal-based fashion watches and jewellery items are excluded from the industry.
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.
Gavin Smith, IBISWorld, 310-490-5973, [email protected]
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