The ultimate project on Jewellery all the data ever you wanted

Source: CBI Market Information Database – www.cbi.eu • Contact marketinfo@cbi.eu
• Publication date 30.11.2011
Performing a competitor
analysis for jewellery
Look at your competition and learn from them. Your competitors are
the existing suppliers of your potential consumers. Try to identify
your main competitors in your priority countries. What are their
strengths and weaknesses? Which strategic moves are they likely to
make in response to the opportunities and threats presented by the
market?
Why conduct a competitor analysis?
Understanding your competitors is an essential pre-requisite to exporting. Understanding
the strengths and weaknesses of your current and potential competitors helps you to
appreciate your own strengths and weaknesses, as well as your own best opportunities and
greatest threats. Many companies only undertake this analysis on an ad hoc or unstructured
basis. It is recommended that a proper systematic competitor analysis is carried out, rather
than relying on informal assumptions, impressions and instincts.
A competitor analysis can provide an understanding of your competitors’ current strategies,
but more importantly provide an insight into their likely future strategy. It will also help
you develop your own strategy that gives you a competitive advantage. You can also
estimate how competitors will respond to your future new product or pricing activity.
How do you conduct a competitor analysis?
Where are they from? Remember that competitors can come from anywhere. They not only
include those domestic companies in your selected countries, but also those from other
developing countries, including your own country, and from other (Eastern) EU countries.
How many competitors? You may think that having many competitors may make your task
more difficult. That would depend. The quality of your competition (how well established
are they with customers, how close are their relationships with key trade customers etc)
is more important than the number of competitors.
Who are they? A list of names and addresses is not sufficient. You need to find out whether
they are owned by another parent company and a whole list of other information on each
actual and potential competitor including:
• What is their profile and marketing strategy? For example, what are the company’s
size, turnover, organisational structure, consumer profiles, jewellery collection (USP),
brand strategy, market share, are they generalists or specialists, their price level,
profitability, distribution channels used and promotion strategy.
• What threats do they pose? For example, do they possess technical skills, special
styling or design ability, can they offer jewellery at low price levels? Do they have
advantages in production capacity, (natural) resources or use of particular (recycled)
materials?

Performing a competitor analysis for jewellery
• What are their company objectives? For example, in case of a developing country, are
they helping producers in their country in a sustainable way? What is their vision or
philosophy?
• What are their export marketing objectives? Are they likely to diversify into other
markets or other product groups, or are they likely to be thinking about taking over
other competitors to increase their market presence?
• What strategies are they pursuing and how successful are they? For example, are they
pursuing long-term or short-term goals? Are they more interested in market share
or technological leadership, or just short-term financial gain?
• What are their strengths and weaknesses?
• How is each competitor likely to respond to your own business actions?
How do you find the information? There are many ways to find information on competitors.
The most thorough investigation will consist of using a combination of sources.
• Published data includes information you can find through the trade directories,
company’s annual report and brochures, trade press releases and articles or analyst
reports.
• Field data includes information on the competitor company that requires more
investigation, such as looking for their price lists, catalogues, advertising campaigns
or promotional activity.
• Opportunistic data requires most planning and organisation, much of which is
'anecdotal', coming from discussions with suppliers, customers or previous
management of competitors. This will include discussions at trade shows, sales
meetings, conferences, discussions with shared distributors, previous employees
and social contacts with competitors.
An example of a competitor analysis in the jewellery sector
This is an illustration of how to carry out a competitor analysis, using an imaginary
company called Beads Eye Concepts
BEC wants to target pre-teens and teens in the Spanish and Portuguese markets as offering
good prospects for lucky charm jewellery. They primarily would target those girls and boys
who are attracted to ‘adventure’ or to ‘wildlife in Africa’ but still want to be ‘protected’.
Beads eye bracelets are a popular gift items and are meant to ward off all evil eyes from its
wearer. Some people believe that it protects against negative energies, such as anger,
hatred, fear, jealousy and other such evil energies. BEC found out that celebrities such as
Cameron Diaz, Brad Pitt, Sharon Stone, Richard Gere, Madonna, Britney Spears and Demi
Moore wear evil eye bracelets or an evil eye necklace.
Beads Eye Concepts (BEC) specialises in jewellery with eye beads and is based in Angola.
They have 2 own workshops for silver and copper jewellery and source most of their eye
beads from Mauretania. They have one designer who creates jewellery collections that
use different combinations of eye beads, silver (charms), copper, terracotta beads,
shelves and recycled material.
Most of their jewellery consists of neckwear, bracelets and hair accessories that are
assembled by women in 20 villages in the area of the Kongo people (meaning ‘hunter’).
An important objective of BEC is to create sustainable opportunities for women in the
Atlantic Coast area of Angola. Now that their production capacity and export marketing
know-how has improved, they look for an expansion into the EU market.

The competitor analysis process would take the following steps:
Determine your research objective. This would be to find out who your main competitors are
in the Spanish market, what their market share is and how they operate.
Classify your competitors. Each competitor is different. Your competitors will not only be
manufacturers or exporters of silver jewellery from Angola, they will also be exporters of
silver jewellery from other developing countries, other EU countries or domestic Spanish
producers.
You may already be aware that many eye beads are made in Mauretania and Mali as well as
in Greece and Turkey that have a long-established reputation in eye bead production and
are closer to the EU market. Your competitors could also be manufacturers or exporters
targeting Spanish teens with jewellery collections made of silver, titanium, copper or plain
metal with glass beads, ‘troll beads’ (replaceable beads from Denmark), Swarovski crystals
or with semi-precious stones.
Find the information. BEC needs to carry out a combination of desk and field research. CBI
market research reports on jewellery may show the leading supplying countries, names
of leading manufacturers in Spain and leading retailers.
• Using Eurostat statistics, analysis of leading importers shows that 25-30% of all silver
jewellery imports are intra-EU, and the majority come from Thailand, India and China.
While Mexico, Indonesia, Turkey, Mauritius, Sri Lanka and Nepal were other important
developing country suppliers. Spain also imported some silver jewellery from Niger.
While the majority of imitation jewellery with parts of glass comes from Austria with
China, India, Thailand being the main developing country suppliers, and to a lesser
extent, Morocco, Philippines, Tunisia and Indonesia.
• Analysis of Spanish production shows a considerable amount of production of silver
jewellery with (semi-) precious stones and costume jewellery. However, as Spain was
badly affected by the recession, there is a trend towards production of innovative silver
jewellery with lower cost alternatives for stones such as colourful beads.
• After identifying the source countries, further investigation is required to find out the
names of the leading competitor manufacturers from those countries.
Approach the leading sources. As you are interested in the Spanish market, you need to identify
the main players on the market. Key sources include:
• The leading trade shows are the Iberjoya and Bisutex – http://www.iberjoya.es and
http://www.ifema.es – which take place twice a year in January and September. Both
shows produce a catalogue that identifies exhibitors by type of product.
• The leading Spanish manufacturers offering jewellery at an affordable price:
Luxenter (http://www.luxenter.com) that makes jewellery with stones using material
from Africa. Or, Majorica (http://www.majorica.com) being a leading manufacturer of
costume jewellery. Other important Spanish brands are Tous, Belen Bajo and Lola
Casademunt.
• Other useful links to potential competitors are Fashion from Spain -
http://www.fashionfromspain.com – which includes a directory of jewellery
companies. This site also gives examples of joint developments of jewellery collections
with stones between Spanish fashion designers e.g. Angel Schlesser and jewellers e.g.
Le Cado.
• The Association of Spanish Jewellers and Watchmakers at http://www.iberjoya.es or the
Spanish jewellery exporters Association at http://www.joyex.com, which features good
links to other organisations.
• The main Spanish jewellery trade press – http://www.grupoduplex.com – with the
magazines ‘Arte y Joya’ and ‘Jewellery Duplex’, which for example includes an article
about the latest colours in stones and beads.
• Look at websites of the main Spanish retailer El Corte Inglés, International accessory

chains such as Claire’s, Accessorize, Bijoux Brigitte, Swarovski, Agatha as well as
online sellers Joyeria Virtual (http://www.joyeriavirtual.net), Bolsos y Accesorios
(http://lilianaesquivia.com/bolsos/index.html) and Equipaje BCN
(http://www.equipajebcn.com).
• You may be interested in niche competitors. For example, in the fair trade segment,
Alternativa3 – http://www.alternativa3.com – is an organisation that imports and
distributes several products, including jewellery, within Spain from groups of artisans
and producers in developing countries. It features a list of its suppliers.
• Look at Spanish consumer magazines (jewellery, fashion, glamour, leisure, music)
targeted at teens and try to identify competitors. Also check the most important
fashion magazines such as Punt&Moda, Elle Espagna, Cosmopolitan, Marie Claire
Espagna, Revista Atelier etc..
Analyse your list of competitors. Being an exporter from Beads Eyes Concepts you have contacted
the main sources. Next, try to make a shortlist of your main competitors and compile as
much relevant information about them as possible. See CBI’s manual Your guide to market
research - Your Research Practice (Part 2) and Export Marketing Planner for more information. You
can do this by:
• Looking at their websites, sending off for their brochures.
• Finding out about them from industry sources (industry associations ) or via trade
fairs.
• What other material do they use in their bracelets or neckwear (e.g. silver, copper,
fibres, leather etc...), which design, patterns, symbols or style do they use?
• Who is their main target group?
• Trying to work out their sales plans by analysing beaded bracelets ranges, pricing
and distribution strategy (via importer, direct to e.g. El Corte Inglés, or via online
clothing sellers). How do they compare with your own plans?
• Think about how to differentiate with your eye-bead bracelet designs from the
competition: evoking sympathy, ethic patterns from Angola or funky design?
• How are bead-eye bracelets promoted to Spanish consumers, for example is it
related to a special event? How often promotions are done for jewellery in
general? Any seasonal pattern?
• Trying to anticipate how they might react to your market entry (would they
decrease their prices? Would they increase their range? Would they broaden their
distribution?
A possible result for Beads Eye Concepts could be that the Spanish beaded jewellery market
is dominated by companies from China, Turkey, North African countries or EU countries
(e.g. Denmark) offering wide ranges of colourful beaded printed jewellery at retail prices
between € 10 and € 50. Main channels are the accessory chains and El Corte Inglés. Internet
sales of jewellery is growing fast. Competitors mainly target younger consumers who regard
price, design and fashion colours most important. There are a few other Angolan
companies operating in Spain but they sell also fashion accessories. So, Beads Eye Concepts
could focus on middle-aged people in Spain or travellers who still regard the ‘protection’
element to be more important than price. They can be reached direct by Internet sellers.
Partnership
For many exporters managing partnerships has been essential to successfully entering
export markets. Individual producers and exporters often lack the economies of scale to
sell products directly to retailers in the EU in order to compete with well-established
competitors that have already established networks.

Within many DCs there are agencies promoting export cooperation between different
producers and/or exporters. As a producer wishing to export to the EU it is important
to evaluate possible cooperation, seek new partners and to use existing support
organisations, for example joining forces with other Angolan jewellery or fashion
accessory makers.
The importance of partnerships.
• To improve your potential transaction size
• To improve your bargaining power
• To extend your product range
• To minimise risk and improve service
• To reduce costs for shipping, storage, quality control, presence in foreign markets
via shared endeavours
• To benefit from shared promotion, product development and other innovation
• To share knowledge on issues such as certification of special legislation
(see example above).
This survey was compiled by Searce
in cooperation with Mart Krijger
Disclaimer CBI market information tool: http://www.cbi.eu/disclaimer

Volume : 3 | Issue : 4 | April 2014 ISSN - 2250-1991
29 | PARIPEX - INDIAN JOURNAL OF RESEARCH
Research Paper
A Study on Consumer Awareness About
Gold Jewellery in Tamil Nadu
Commerce
P. ANBUMANI
Ph.D Research Scholar, Department of Commerce, Annamalai
University, Annamalai Nagar -608002, Chidambaram, Tamil Nadu.
DR.V.SUNDAR
Associate Professor, Department of Commerce, Annamalai Uni-
versity, Annamalai Nagar – 608002, Chidambaram, Tamil Nadu.
KEYWORDS Gold jewellery, Consumer Awareness, Karat, Karat Meter, Hallmark, Branded Jewellery, BIS
ABSTRACT
Indian Jewellery market is the largest market in the world next to China. Indian consumers are buying gold jewellery mainly
for the wedding ceremony. Indian wedding generates 50 percent of the world annual gold demand. Over the next two
decades, 15million weddings to be arranged. Therefore, there is a high demand for gold jewellery in India. Consumers
are buying gold jewellery for all occasion. But, it is important to know whether, they are fully aware about gold purity/
fineness, market price of gold, making charges, wastages charges, and fineness/ hallmark certificate issued by Bureau of
Indian Standards. Many buyers are still buying gold jewellery from non-branded stores, and not insisting purchase bill for
their transactions. Many gold jewellers are not ready to buy back the gold jewellery sold buy them. This shows a lack of
awareness among the consumers of gold jewellery in India. Hence, the purpose of the article is to analyze the consumers
awareness about gold jewellery in the select districts of Tamil Nadu.
Introduction
China and India is the largest market for gold jewellery in the
world. Approximately 3000 tones of gold produced in the
world, of which approximately 750-800 tonnes of gold have
been imported by India every year. However, the government
of India has been taking steps to reduce the current account
deficit and control the import the gold, but current account
deficit and import of gold are not reducing. In the gold mar-
ket, around 80 percent of the gold import, used for gold
jewellery fabrication, and 15 percent for investment demand,
barely 5 percent is for industrial use.
Jewellery industry is a great industry; it is giving directly em-
ployment to 2.5 million and contributed to INR 99,000 crore
as value addition to the economy. The gems and jewellery
industry is one of the highest contributors to Indian econo-
my, highest contributor to export(INR 227,000 crore – 2012-
2013).[1] Further, many branded and non- branded jewellery
stores are targeting the jewellery consumers and selling jewel-
lery worth crores and crores of Indian rupee every year. Indians
are fond of gold jewellery from the ancient period.
Out of the total sales every year 20 percent have been pur-
chased by northern states, 15 percent by eastern states, 30
percent by western states, and the maximum 35 percent by
Kerala, Karnataka, Andhra Pradesh and Tamil Nadu, states
which are actively buying gold jewellery every day. Major con-
tribution in sales by southern states of India. Consumers are
buying gold jewellery mainly for wedding. Apart from this,
across the country regional festivals are celebrated with gold:
in south Akshaya Trithiya, Pongal, Onam and Ugadi, in the
east Durga Puja, in the west Gudi Pavda, in the north(1) Baisa-
ki and Karva Chauth. Gifting gold is deeply ingrained part of
marriage rituals in Indian society. Weddings in India generate
approximately 50 percent of annual gold demand, and over
the next two decades 15 million marriages are to be celebrat-
ed.
There are many jewellery stores in India. The jewellery stores
are selling gold jewellery in different karat. Karat means, noti-
fying the purity/ fineness of gold.( not – carat: carat is relating
to diamond as measuring of weight). Pure is gold is 100 per-
cent gold and is called as 24 karat gold or 24k gold. This 24K
gold is so soft, and it cannot be used for any jewellery making
purpose. Hence making it bit hard some other metals such as,
copper, silver or cadmium etc., to be added to it. Based on
adding other metals of gold purity of gold changes from 24K
, 22K,18K, or 14K. Below table shows the details of the same.
Table 1: Purity/ fineness of Gold
24K gold 100% pure + 0% other metals
23K gold 95.8% pure +4.2 % other metals
22K gold 91.6% pure + 8.4% other metals
21K gold 87.5%pure +12.5% other metals
18K gold 75% pure + 25% other metals
17K gold 70.8%pure +29.2% other metals
14K gold 58.5% pure+ 41.5% other metals
12K gold 50% pure+50% other metals
9K gold 37.5% pure +62.5% other metals
Source: www.bis.org.in
Further, the purity of gold is certified by Bureau of Indian
Standards(BIS). This is called hallmark of BIS. If the jewellery
bears the hallmark symbol over it, it shows the purity of gold.
Hence, purity of gold is important for the buyers of gold jew-
ellery when they buy. Further, fineness/ purity is a major de-
terminant in the price fixation of gold. The price of the gold
jewellery is fixed in the following manner.
Actual weight of gold and its purity(K) ……..Rs.XXX
Add: Wastage charges (8% to 25%)………....Rs.XXX
Add: Making charges (labour charge)……….Rs.XXX
Add: Value Added Tax………………………Rs.XXX
……………………………………
Selling price of gold Ornament Rs.XXXX
……………………………………
The above details show the cost of making and selling price.
However, in practice, not all jewellery stores, but many stores
not following ethics in their business. The purpose of the re-
search article is to analyze the awareness of the buyers about
gold jewellery, whether they aware of all these this before

buying jewellery or not. Based on the above the researcher
decided to undertake the study.
Statement of the Problem
The Consumer movement is as old as commerce and trade
in India. But consumer awareness is not improved even after
many years. According to the report prepared by CUTS, inter-
national, only 20 percent of the consumers know about the
Consumer Protection Act, and who has heard about consumer
rights is just 42 percent only. Right to information is one of
the rights of the consumers according to the law. Therefore,
all necessary information to be given to the consumer about
the goods and services they acquire. All necessary information
to be provided for all products hence, jewellery has exception.
The necessary information like, right purity of gold, hallmark
symbol, correct weight, correct color, the correct percentage
of wastage, and making charges. But many of the buyers
are unaware of karat, wastage, making charges, whether it is
branded or non-branded. It is not an excuse, hence; it is the
responsibility of the buyers of gold jewellery, to make neces-
sary enquiry about the purity of the gold, right weight, mak-
ing charges, wastage, color of gold, hallmark, makers mark,
either stone value has been deducted while buying stone
studded gold jewellery from the original gold value or not.
Further, some jewelers are not ready to buy the jewellery sold
by them to the consumers. All these are the subject matter
warranting enquiry, and this has prompted the researcher to
carry out a micro level study on awareness about gold jewel-
lery in Tamil Nadu.
Objective of the Study
The objective of the present research paper is to examine the
consumer awareness about gold jewellery in the select districts
of Tamil Nadu.
Data Source
The data source for the study is primarily based on the pri-
mary data collected from 600 respondents from the select dis-
tricts of Tamil Nadu.
Sampling technique and Methodology
Simple random sampling method has been adopted for the
study. Since the population universe is very large, this meth-
od has been used. In the first stage twelve districts of Tamil
Nadu, viz., Chennai, Coimbatore, Erode, Madurai, Nagapa-
ttinam, Ramanathapuram, Salem, Thanjavur, Tiruchirappalli,
Dindigul, Tirunelveli and Thiruvarur districts have been select-
ed at random. Out of these 12 districts, fifty respondents have
been chosen at random from each district, (12´50=600) and
a pre-tested interview schedule has been administered to the
respondents, and their responses recorded.
Analysis and Discussion
The main aim of the study is to ascertain the awareness of
consumer towards gold jewellery in the study area. The re-
searcher used both optional and bipolar type of questions to
ascertain the awareness level of gold jewellery buyers. In this
context, the researcher used simple percentage analysis to de-
scribe and measure the awareness level of gold jewellery buy-
ers.
Table 2 Factors responsible for buying gold jewellery
S.No
Particulars Variables
Frequency
Percentage
1
Type of gold jewellery
wish to buy
Man – made
Machine made
399
201
66.5
33.5
2
Awareness on man -
made gold jewellery
More weight
Limited design
Price comparatively
less
Luck of hand
131
96
65
107
32.8
24.1
16.3
26.8
3
Awareness on machine
made gold jewellery
Less weight
Confirm pure quality
More design
Status
41
57
94
09
20.4
28.4
46.8
4.5
4
Frequency of
advertisement
watched
Once
Twice
Thrice
Many times
57
37
31
475
9.5
6.2
5.2
79.2
5
Commercial
advertisement in gold
jewellery shops
Lalitha jewellery
Kalyan jewellery
Jos – alukkas
Joy – alukkas
Thangamayil
Khazana jewellery
63
300
144
29
20
44
10.5
50.0
24.0
4.8
3.3
7.3
Source: Primary Data
The above table shows the factors responsible for gold jew-
ellery. It is prepared by using simple percentage analysis, and
prepared to find the factors responsible for buying gold jew-
ellery. The sample size of the study is 600, of which 66.5 per-
cent of respondents belong to; man – made gold jewellery
and remaining percentage machine made gold jewellery. 32.8
percent of the respondents in the man made gold jewellery is
aware of more weight; 46.8 percent of the respondents in
the machine made gold jewellery is aware of more design. It
is generally dependent on the wealth of the consumers and
further found that 79.2 percent of the respondents has seen
gold jewellery advertisement in many times and 50.0 percent
of the respondents in the kalyan jewellery advertisement of
gold jewellery has created consumer awareness.
1.2 Features Considered for Buying Gold Jewellery
On 11th
April 2000, the BIS launched its hallmarking scheme.
The primary objectives of the scheme were consumer protec-
tion, to enhance exports, to improve the quality, and purity of
gold jewellery produced and to monitor any loss to the econ-
omy due to the improper karat. Hallmarking involves Bureau
of International Standards (BIS) symbol or logo, the symbol of
hallmark bears, hallmarking center, code of purity in percent-
age, code of marking year and symbol of jeweller. The fol-
lowing frequency distribution presents the most preferred fea-
tures considered for buying gold jewellery by the consumers.
Table 3 Features Considered for Buying Gold Jewellery
Features
Considered for
Buying Gold
Jewellery
Yes No Total
BIS
Hallmark year
22kt (916)
Jewellery Mart
Stamp
Hallmark
303 (50.5%)
170(28.33%)
459(76.5%)
247(41.17%)
170(28.33%)
297 (49.5%)
430 (71.67%)
141 (23.5%)
353 (58.83%)
430 (71.62%)
600 (100%)
600 (100%)
600 (100%)
600 (100%)
600 (100%)
From the above table it is found that, 76.5 percent of the
respondents considered buying gold jewellery for 22kt (916)
followed by 50.5 percent of the respondents for Bureau of In-
dian Standards (BIS). It is further found that, 41.17 percent
of the respondents considered for jewellery mart stamp, 28.33
percent of the respondents considered buying gold jewellery
for hallmark (H). Similarly, same percentage of the respond-
ents (28.33 percent) stated that they aware of hallmark year
also.
The researcher segmented the question in two types. The first
type, the researcher completely describe the percentage con-
tribution of different options in the awareness domain. The bi-

REFERENCES
1. ATkearney (2013). All that glitters is gold: India jewellery review 2013. Author. Retrieved from http://www.ficci.com/spdocument/20332/India-Jewellery-Review-2013.pdf
pg.8 | 2. India Jewellery Market | Indian Gold Designs | World Gold Council. (n.d.). Retrieved from http://www.gold.org/jewellery/india-market_br | 3. www.bemoneyaware.
com/blog/gold-basics/Understandingof gold: Purity,Color, Hallmark | 4. Leon G.Schiffman, Leslie Lazar Kanuk. (2008). Consumer behaviour, (9th Ed.). Prentice – hall of India,
private limited, New Delhi. | 5. Roger D. Blackwell, Paul W.Miniard, James F.Engel. (2005). Consumer behaviour, (9th Ed.). Vikas publishing house Pvt. Ltd., Jangpura, New
Delhi. | 6. Balanaga Gurunathan K, Muniraj S. (2012). Impact of customer awareness and buyer behaviour on buying jewellery products – with special references to Tamil
Nadu state. European Journal of Social Sciences, 29(3), 337-342. | 7. Nega Jain. (2013). A comparative study of Indian women’s perception towards branded & non branded
jewellery in Jaipur city. Applied Research and Development Institute Journal, 7(7), 59-64.
polar type of questions are separately considered for the neat
presentation and convenience.
Table 4 Awareness about Gold jewellery
S.No
Variables Yes No Total
1
2
3
4
5
6
7
8
Checking of purity/
fineness
Aware of karatmeter
Aware of market
rate
Aware of price
fixation of gold
jewellery
Insisting purchase
receipt
Purchase through
online shopping
Awareness on
consumer movement
Lodged a complaint
regarding gold
jewellery in
consumer court.
527 (87.8 %)
347 (57.8 %)
501 (83.5%)
367 (61.2%)
500 (83.3%)
64 (10.7%)
331 (55.2%)
38 (6.3%)
73 (12.2 %)
253(42.2 %)
99 (16.5%)
233 (38.8%)
100 (16.7%)
536 (89.3%)
269 (44.8%)
562 (93.7%)
600
(100%)
600
(100%)
600
(100%)
600
(100%)
600
(100%)
600
(100%)
600
(100%)
600
(100%)
From the above table, it is found that the consumer and their
awareness level are more in the case of gold jewellery charac-
teristics. It is revealed that 87.8 percent of consumer of gold
jewellery checks the purity of both items in the pair. 57.8
percent of the respondents are aware of karatmeter . The
researcher found that majority of the respondents (83.5 per-
cent) knew and aware of the market rate of gold jewellery.
Most of the respondents eagerly wait to know the market
rate because the gold rate is fixed twice a day and strongly
influenced by supply and demand. 61.2 percent are known
the price fixation of gold jewellery. The gold jewellery price is
same in all over the world, but the making charges and wast-
ages are different from place to place and from the shop to
shop. It is opined that the 83.3 percent of the respondents
insisted and received the receipt from jewellery shop. 10.7
percent of the respondents like to buy gold jewellery through
online shopping. The researcher observed that the youth, like
corporate employees like to buy through online shopping be-
cause they do not find time and not ready to spend hours for
shopping, so they conveniently do online shopping. In the
sample respondents, 55.2 percent were aware of the consum-
er movement and rights regarding gold jewellery. Most of the
consumers were aware almost confined to urban areas. 6.3
percent of the respondents lodged complaint has expressed
an opinion that they believe in the consumer grievance redres-
sal system.
Findings and conclusion
The researcher empirically identified that the most of the con-
sumers are aware of the gold jewellery. 66.5 percent of the
consumers wish to buy man – made gold jewellery. The rea-
son for buying man – made gold jewellery is primarily for
more weight and more design for machine made gold jew-
ellery. The consumers watched many times in gold jewellery
advertisements and also kalyan jewellery shop commercial ad-
vertisement has created consumer awareness on gold jewel-
lery. The findings of the research reports that 76.5 percent of
the respondents considered and aware of buying gold jewel-
lery for 22kt (916). The findings of the research revealed that
87.8 percent of consumers of gold jewellery check the quality
of both items in the pair. 10.7 percent of the respondents like
to buy gold jewellery through online shopping and 6.3 per-
cent of the respondents gave lodged complaints. It is further
ascertained that the consumer awareness of gold jewellery for
karat meter, aware of the market rate, price fixation, receiv-
ing receipt and consumer movement and rights is considerably
satisfactory. However, the level of awareness about gold jewel-
lery must be increased in the minds of consumers. Therefore,
the consumer councils, forums, and the Government of India
should take necessary steps to improve the awareness in the
minds of consumers, and this will certainly help the consumers
of gold jewellery.

www.euromonitor.com Sample Report for Illustration ONLY
© Euromonitor International
List of Contents and Tables
PERSONAL GOODS IN SWEDEN......................................................................................................1
Executive Summary.....................................................................................................................................................1
Sales of Personal Goods Unaffected by Global Crisis .................................................................................................1
Sales in More Sectors Driven by Well-known Brands ..................................................................................................1
Swedish Personal Goods Market Remains Conservative .............................................................................................1
Traditional Retailers Turning Into Fashion Stores.......................................................................................................1
Well-known Brands Driving Future Sales.....................................................................................................................1
Key Trends and Developments...................................................................................................................................1
was There A Global Economic Crisis? .........................................................................................................................2
Well-known Brands All More Important.......................................................................................................................2
Swedish Personal Goods Market Becoming Polarised.................................................................................................3
Modern Technology Affecting Some Markets ...............................................................................................................4
Fashion Causes Rapid Changes....................................................................................................................................5
Market Data .................................................................................................................................................................5
Table 1 Sales of Personal Goods by Category: Value 2004-2009 ....................................................5
Table 2 Sales of Personal Goods by Category: % Value Growth 2004-2009...................................6
Table 3 Personal Goods Company Shares 2005-2009.......................................................................6
Table 4 Personal Goods Brand Shares 2006-2009 ............................................................................6
Table 5 Sales of Personal Goods by Distribution Format: % Analysis 2004-2009..........................7
Table 6 Sales of Personal Goods by Sector and Distribution Format: % Analysis
2009 .......................................................................................................................................8
Table 7 Forecast Sales of Personal Goods by Category: Value 2009-2014......................................8
Table 8 Forecast Sales of Personal Goods by Category: % Value Growth 2009-2014....................8
Definitions.....................................................................................................................................................................8
Summary 1 Research Sources...................................................................................................................9
LOCAL COMPANY PROFILES - SWEDEN ......................................................................................10
Ballograf Ab ...............................................................................................................................................................10
Strategic Direction.......................................................................................................................................................10
Key Facts......................................................................................................................................................................10
Summary 2 Ballograf AB: Key Facts.....................................................................................................10
Summary 3 Ballograf AB: Operational Indicators.................................................................................10
Company Background..................................................................................................................................................10
Production....................................................................................................................................................................11
Competitive Positioning...............................................................................................................................................11
Summary 4 Ballograf AB: Competitive Position 2009..........................................................................11
Burde Förlagsaktiebolag...........................................................................................................................................11
Key Facts......................................................................................................................................................................11
Summary 5 Burde Förlagsaktiebolag: Key Facts...................................................................................11
Summary 6 Burde Förlagsaktiebolag: Operational Indicators...............................................................12
Production....................................................................................................................................................................12
Summary 7 Burde Förlagsaktiebolag: Production Statistics 2009.........................................................12

Summary 8 Burde Förlagsaktiebolag: Competitive Position 2009........................................................13
Iduna Ab .....................................................................................................................................................................13
Key Facts......................................................................................................................................................................13
Summary 9 Iduna AB: Key Facts...........................................................................................................13
Summary 10 Iduna AB: Operational Indicators.......................................................................................13
Production....................................................................................................................................................................14
Summary 11 Iduna AB: Competitive Position 2009................................................................................14
Kin Ab .........................................................................................................................................................................15
Key Facts......................................................................................................................................................................15
Summary 12 KIN AB: Key Facts.............................................................................................................15
Summary 13 KIN AB: Operational Indicators.........................................................................................15
Production....................................................................................................................................................................16
Summary 14 KIN AB: Competitive Position 2009..................................................................................16
Venue Retail Group Ab.............................................................................................................................................16
Key Facts......................................................................................................................................................................17
Summary 15 Venue Retail Group AB: Key Facts....................................................................................17
Summary 16 Venue Retail Group AB: Operational Indicators................................................................17
Production....................................................................................................................................................................18
Summary 17 Venue Retail Group AB: Competitive Position 2009 ........................................................18
JEWELLERY IN SWEDEN ................................................................................................................19
Headlines.....................................................................................................................................................................19
Trends .........................................................................................................................................................................19
Competitive Landscape.............................................................................................................................................20
Prospects .....................................................................................................................................................................21
New Product Developments.........................................................................................................................................21
Summary 18 New Product Launches 2009 ..............................................................................................21
Category Data.............................................................................................................................................................21
Table 9 Sales of Jewellery by Category: Value 2004-2009 ............................................................21
Table 10 Sales of Jewellery by Category: % Value Growth 2004-2009...........................................22
Table 11 Sales of Jewellery by Type: % Value Breakdown 2004-2009...........................................22
Table 12 Jewellery Company Shares 2005-2009...............................................................................22
Table 13 Jewellery Brand Shares 2006-2009 ....................................................................................22
Table 14 Costume Jewellery Company Shares 2005-2009 ...............................................................23
Table 15 Costume Jewellery Brand Shares 2006-2009.....................................................................23
Table 16 Real Jewellery Company Shares 2005-2009 ......................................................................23
Table 17 Real Jewellery Brand Shares 2006-2009............................................................................24

Table 18 Sales of Jewellery by Distribution Format: % Analysis 2004-2009 ..................................24
Table 19 Forecast Sales of Jewellery by Category: Value 2009-2014..............................................24
Table 20 Forecast Sales of Jewellery by Category: % Value Growth 2009-2014............................25

PERSONAL GOODS IN SWEDEN
EXECUTIVE SUMMARY
Sales of Personal Goods Unaffected by Global Crisis
Sales on the Swedish market in personal goods grew strongly over the review period, despite the onset of the
global economic crisis in 2008. The only sector that was slightly affected by the global economic crisis was
personal stationery, whose sales declined briefly in 2008 before recovering in 2009. Two factors seem to have
been protecting the Swedish market in personal goods. First, it is small overall, and Swedes appear to be
consuming no more than their basic needs. Second, increased interest in well-known brands has fuelled sales.
Sales in More Sectors Driven by Well-known Brands
Some sectors of the Swedish market in personal goods, such as jewellery and watches, underwent strong
structural changes during the review period on account of an increasing interest in well-known international
brands. Consumers now place their trust in the well-known international brands, as they once did in the
craftsmanship of independent goldsmiths and watchmakers. More sectors of the Swedish market in personal
goods are being driven by this increasing interest in fashion and design. Well-known brands have become
symbols of credibility, lifestyle, values and a certain level of quality, and they must be able to meet the
consumers’ expectations.
Swedish Personal Goods Market Remains Conservative
There are wide differences in the competitive environments of the different subsectors of the Swedish market in
personal goods. Some sectors, such as jewellery and handbags, have become increasingly fragmented as more
well-known international brands compete for consumers’ attention. Others, such as writing instruments and
luggage, are concentrated on a few strong brand owners. New product development has been rather limited in all
sectors of the Swedish market in personal goods, and there have been few innovations. The most common
features of new product development have been a concentration on trendy exterior design, together with the
introduction of eco-friendly materials in some sectors, such as pens.
Traditional Retailers Turning Into Fashion Stores
Well-known Brands Driving Future Sales
KEY TRENDS AND DEVELOPMENTS
Content removed from sample

was There A Global Economic Crisis?
Current impact
Outlook
Future impact
Well-known Brands All More Important
Current impact

Outlook
Future impact
Swedish Personal Goods Market Becoming Polarised
Current impact
Outlook

Future impact
Modern Technology Affecting Some Markets
Current impact
Outlook
Future impact

Fashion Causes Rapid Changes
Current impact
Outlook
Future impact
MARKET DATA
Table 1 Sales of Personal Goods by Category: Value 2004-2009
SEK million
2004 2005 2006 2007 2008 2009
Jewellery
Personal Stationery
Travel Goods
Watches
Writing Instruments
Personal Goods , , , , , ,
Source: Official statistics, trade associations, trade press, company research, store checks, trade interviews,
Euromonitor estimates
Data removed from sample

Table 2 Sales of Personal Goods by Category: % Value Growth 2004-2009
% current value growth
2008/09 2004-09 CAGR 2004/09 TOTAL
Jewellery
Personal Stationery
Travel Goods
Watches
Writing Instruments
Personal Goods
Table 3 Personal Goods Company Shares 2005-2009
Total 100.0 100.0 100.0 100.0 100.0
Source: Trade associations, trade press, company research, trade interviews, Euromonitor estimates
Table 4 Personal Goods Brand Shares 2006-2009
% retail value rsp
Brand Company 2006 2007 2008 2009

Total 100.0 100.0 100.0 100.0
Table 5 Sales of Personal Goods by Distribution Format: % Analysis 2004-2009
% retail value rsp
2004 2005 2006 2007 2008 2009
Store-Based Retailing
Grocery Retailers
Non-Grocery Retailers
Electronics and
Appliance Specialist
Retailers
Health and Beauty
Retailers
Leisure and personal
goods retailers
Mixed Retailers
Other store-based
retailing
Non-Store Retailing
Direct Selling
Homeshopping
Internet Retailing
Vending
Total 100.0 100.0 100.0 100.0 100.0 100.0

Table 6 Sales of Personal Goods by Sector and Distribution Format: % Analysis 2009
% retail value rsp
J PS TG W WI
Grocery Retailers
Electronics and
Retailers
Health and Beauty
Retailers
goods retailers
Mixed Retailers
Other store-based
retailing
Non-Store Retailing
Direct Selling
Homeshopping
Internet Retailing
Vending
Total 100.0 100.0 100.0 100.0 100.0
Euromonitor International estimates
Key: J = Jewellery; PS = Personal Stationery; TG = Travel Goods; W = Watches; WI = Writing Instruments
Table 7 Forecast Sales of Personal Goods by Category: Value 2009-2014
SEK million
2009 2010 2011 2012 2013 2014
Jewellery
Personal Stationery
Travel Goods
Watches
Writing Instruments
Personal Goods , , , , , ,
Source: Official statistics, trade associations, trade press, company research, trade interviews, Euromonitor estimates
Table 8 Forecast Sales of Personal Goods by Category: % Value Growth 2009-2014
% constant value growth
2009-14 CAGR 2009/14 TOTAL
Jewellery
Personal Stationery
Travel Goods
Watches
Writing Instruments
Personal Goods
DEFINITIONS

JEWELLERY IN SWEDEN
HEADLINES
 Over the period 2004–2009, the sales value of jewellery in Sweden decreased by 8.2% (at a CAGR of -
1.7%), from SEK 4.2 to SEK 3.8 billion. In 2009, however, the sales value increased by 1.3% from the SEK
3.8 billion recorded in 2008.
 The Swedish jewellery market is currently undergoing large structural changes as it is increasingly driven
by well-known international brands. Jewellery is more than ever a fashion accessory.
 Real jewellery is the larger subsector of the Swedish market, with sales of SEK 3.3 billion in 2009.
Nevertheless, only costume jewellery displayed positive growth, rising by a total of 2.7% during 2004–
2009.
 In 2009, the leading brand owners on the Swedish jewellery market were the Swedish retailer Iduna AB
(15.6%), together with the manufacturers Schalins Ringar AB (6.9%), Efva Attling Stockholm AB (4.7%)
and Näslund & Jonsson Import AB (4.7%).
 Over the forecast period, the Swedish jewellery market is expected to grow by 9.9% (at a CAGR of 1.9%)
to reach SEK 4.2 billion in 2014.
TRENDS
 The most important factor influencing the Swedish jewellery market is a strong structural change. In recent
years, well-known international brands have become increasingly important to Swedish consumers in
general. This is apparent in almost all markets, including clothing, furniture and consumer electronics,
where well-known designers are attracting considerable attention. Jewellery retailers report that consumers
previously put their trust in their skills as goldsmiths, but today they believe in brands.
 Consumers expect that a well-known international brand, such as Calvin Klein, will maintain a certain level
of quality. The quality need not be exceptional and the product need not be exclusive, but the product must
meet consumers’ expectations, because the brand has become the symbol of a certain lifestyle and values.
 As brands are more important than craftsmanship to the modern Swedish consumer of jewellery, sales on
the Swedish market have fluctuated strongly over the review period. This is because many retailers and
domestic jewellery producers are still living in the past and waiting for this new and whimsical movement
to pass, so they can again focus on what is important to them – their own skills in the trade – once order is
re-established.
 Many Swedish retailers and jewellery producers have failed to notice that they are dealing with new groups
of consumers. Previously, men bought upper-end jewellery pieces as gifts for women, but today many
women buy their own jewellery. Women are not necessarily interested in the upper-end products the
retailers like to sell, which represent their own skill in the trade, since they may prefer buy something
simple they fancy for the moment.
 An illustration of the new trend is the Rock brand by Sweden Åsitas, created by the Swedish TV celebrity
Laila Bagge and the designer Åsa Lötbom. This is a line of silver jewellery in the form of, for example,
skulls. Goldsmiths regard this as an abomination, while critics, the media and consumers love the brand.
This development also illustrates that the distinction between real and costume jewellery is increasingly
blurred.
 The global economic crisis in 2008 does not seem to have had a large effect on the Swedish jewellery
market. Rather, because of the structural changes there have been strong ups and downs over the review
period. In the last few years, the market has been growing slowly with decreasing growth rates, and it
appears to be stabilising as the major retailers learn to deal with the new market conditions.
 Most Swedish jewellery retailers offer a wide assortment of neckwear and rings. Rings represented 35%,
neckwear 30%, earrings 20% and wristwear the remaining 15% of the total value sales of jewellery in 2009.

Rings and earrings appear to be gaining in popularity relative to neck- and wristwear, and sales of rings are
currently believed to be driven by anticipation of the royal wedding in Sweden in 2010.
 The faster-growing subsector of the Swedish jewellery market is costume jewellery, which is currently
growing slightly faster than real jewellery, although the distinction between these two subsectors is
increasingly blurred as a result of the current trend towards the growth of strong and well-known brands.
Today it is perfectly acceptable for a consumer to buy low-end neckwear made from silver and leather, or
even rubber, if the designer or the brand is well known.

COMPETITIVE LANDSCAPE
 The strongest player on the Swedish jewellery market is the Iduna Group, which owns the three largest
retail chains: Guldfynd, Hallbergs Guld and Albrekts Guld. Its own brands – Albrekts Guld, Mood, Posh, Q
Från Guldfynd, and I me my. – held a combined market share of 15.6% in 2009.









Jewellery , , , , , ,
Table 10 Sales of Jewellery by Category: % Value Growth 2004-2009
% current value growth
2008/09 2004-09 CAGR 2004/09 TOTAL
Costume Jewellery
Real Jewellery
Jewellery
Table 11 Sales of Jewellery by Type: % Value Breakdown 2004-2009
% retail value rsp
2004 2005 2006 2007 2008 2009
Earrings
Neckwear
Rings
Wristwear
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 12 Jewellery Company Shares 2005-2009
% retail value rsp
Company 2005 2006 2007 2008 2009
Total 100.0 100.0 100.0 100.0 100.0
Table 13 Jewellery Brand Shares 2006-2009
% retail value rsp
Brand Company 2006 2007 2008 2009

Total 100.0 100.0 100.0 100.0
Table 14 Costume Jewellery Company Shares 2005-2009
% retail value rsp
Company 2005 2006 2007 2008 2009
Total 100.0 100.0 100.0 100.0 100.0
Table 15 Costume Jewellery Brand Shares 2006-2009
% retail value rsp
Brand Company 2006 2007 2008 2009
Total 100.0 100.0 100.0 100.0
Table 16 Real Jewellery Company Shares 2005-2009
% retail value rsp
Company 2005 2006 2007 2008 2009
Total 100.0 100.0 100.0 100.0 100.0

Table 17 Real Jewellery Brand Shares 2006-2009
% retail value rsp
Brand Company 2006 2007 2008 2009
Total 100.0 100.0 100.0 100.0
Table 18 Sales of Jewellery by Distribution Format: % Analysis 2004-2009
% retail value rsp
2004 2005 2006 2007 2008 2009
Grocery Retailers
Electronics and
Retailers
Health and Beauty
Retailers
goods retailers
Mixed Retailers
Other store-based
retailing
Non-Store Retailing
Direct Selling
Homeshopping
Internet Retailing
Vending
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 19 Forecast Sales of Jewellery by Category: Value 2009-2014
SEK million
2009 2010 2011 2012 2013 2014
Costume Jewellery
Real Jewellery
Jewellery , , , , , ,

Table 20 Forecast Sales of Jewellery by Category: % Value Growth 2009-2014
% constant value growth
2009-14 CAGR 2009/14 TOTAL
Costume Jewellery
Real Jewellery
Jewellery

1 Julie Boadilla
JEWELLERY
INDUSTRY GUIDE
Updated January 2014
Small Business Help
Craft and Art (Small Business Help) [(B) SBH 745.5068]
Covers all aspects of setting up and maintaining a craft business.
Start and Run Your Own Shop (Small Business Help) [(B) SBH 658.87]
Aimed at the aspiring retailer with limited means.
Antiques and Fine Art Dealer – BOP199 (COBRA, 2013) [available onsite via electronic sources]
Provides information about starting up as an antiques and fine art dealer. It describes the skills
required, the training available, the current market trends and some of the key trading issues. It also
identifies some of the main legislation that must be complied with.
Clock and Watch and Repair Service – MBP435 (COBRA, 2013) [available onsite via electronic
sources]
Provides information about starting up a clock and watch repair service. It describes the skills
required, the training available, current market trends, and some of the key trading issues. It also
identifies some of the main legislation that must be complied with and provides sources of further
information.
Clothing and Accessories Retail – SYN041 (Cobra, 2012) [available onsite via electronic sources]
An overview of the current performance, trends and key factors affecting the UK clothing and
accessories retail industry including jewellery.
Fashion Accessories Retailer – BOP109 (COBRA, 2012) [available onsite via electronic sources]
Provides information about starting up as a fashion accessories retailer. It describes the skills required,
the training available, the current market trends and some of the key trading issues. It also identifies
some of the main legislation that must be complied with and provides sources of further information.

2 Julie Boadilla
Jewellery – BOP106 (Cobra, 2012) [available onsite via electronic sources]
Provides information about starting up as a jewellery. It describes the skills required, the training
available, the current market trends and some of the key trading issues. It also identifies some of the
main legislation that must be complied with and provides sources of further information.
Jewellery Maker – BOP008 (COBRA, 2012) [available onsite via electronic sources]
Provides information about starting up as a jewellery maker. It describes the skills required, the
training available, the current market trends and some of the key trading issues. It also identifies some
of the main legislation that must be complied with and provides sources of further information.
New Age Shop – MBP298 (COBRA, 2011) [available onsite via electronic sources]Provides brief
information on trading issues connected with new age shops (retailers of products and gifts
associated with a broad range of new age beliefs and philosophies).
Selling Your Crafts online with Etsy, eBay and Pinterest (Small Business Help, 2012) [(B) SBH
745.50688 BUS]
A step by step guide for succeeding in the world’s biggest online, crafts market places. Gives tips and
advice on everything from creating listings to getting a fair price, processing payments to providing
outstanding service.
Setting up a successful Jewellery Business (Small Business Help, 2011) [(B) SBH 739.27068 BUS]
This book is for anyone who designs, makes and sells jewellery. Either directly to the public or
through shops and galleries. This book will also give you the tools you need to help you price,
promote and sell your work.
Market Research & Statistics
Consumer Attitudes Towards Luxury Brands – UK (Mintel, 2011) [available onsite via electronic
sources]
Analysis of sector and trends including many tables showing responses to questions on buying and
usage behaviour.
Consumer Expenditure on Jewellery, Silverware, Watches and Clocks (Euromonitor Passport, 2012)
[available onsite via electronic sources]
Brief data for numerous individual countries and regions.
Corporate and promotional giftware Market Report (Key Note, 2013) [A-Z sequence by title] (also
available online via electronic sources)
Extensive analysis of sector including sales, competitors, future trends, SWOT analysis, buying
behaviour, current issues and the global market.
Fashion accessories - UK ( Mintel, 2012) [available onsite via electronic sources]
Includes costume jewellery. Analysis of sector and trends, including tables showing responses to
questions on buying and usage behaviour.
GFMS: Gold survey 2012 (GFMS) [(B) MKT 338.2741021 BUS]
Provides data on gold prices, investment, mine supply, supply from above ground stock, gold bullion
trade and fabrication demand.
Giftware (Key Note, 2011) [A-Z sequence by title] (also available online via electronic sources)

3 Julie Boadilla
Global Airport Retailing: Market Size, Retailer Strategies and Competitor Performance
(Verdict, 2012) [available onsite via electronic sources]
Outlines global and regional expenditure, individual retailers' performance and key strategic issues.
Global Jewellery Retailing: Market Size, Retailer Strategies and Competitor Performance (Verdict,
2010) [available onsite via electronic sources]
Global Luxury Retailing: Market Size, Brand Strategies and Competitor Performance (Verdict, 2011)
[available onsite via electronic sources]
Index of Jewellery, Silverware, Watches and Clocks, Travel Goods Prices (Euromonitor Passport,
2013) [available onsite via electronic sources]
Covers numerous individual countries and regions to show variation in prices for the sector. Figures
from 2006.
International Retail Spend in the UK (Verdict, 2013) [available onsite via electronic sources]
Jewellery industry: Financial Survey Report (Key Note, 2012) [A-Z sequence by title]
Brief financial data for medium-sized and smaller UK companies.
Jewellery trade: Business Ratio Report (Key Note, 2011) [A-Z sequence by title] (also available online
via electronic sources)
Detailed financial data for leading UK companies followed by ranked lists for financial performance,
number of employees, sales per employee, etc.
Jewellery and Watches Market Report (Key Note, 2013) [A-Z sequence by title] (also available online
via electronic sources)
Jewellery in The United Kingdom (Euromonitor Passport, 2013) [available onsite via electronic
sources]
Individual reports on numerous countries. Includes analysis, sector trends and forecasts, sales share
from, usually, 2008, by sub sector, company and by brand, and share by distribution format such as
grocery outlets or the Internet. UK report includes new product launches and company and brand
share by sub sector such as costume jewellery.
Luxury Jewellery and Timepieces – in the United Kingdom (Euromonitor Passport, 2013) [available
onsite via electronic sources]
from, usually, 2006, by sub sector, company and by brand, and share by distribution format such as
grocery outlets or the Internet.
Platinum (Johnson Matthey PLC, 1985 onwards) [ZC.9.b.41] (Humanities, must be ordered on
Explore the British Library)
Annual review of platinum, palladium and rhodium markets (to some extent ruthenium and iridium).
Statistics on demand by industry, regions etc. Includes prices, and new applications.
Watches – country reports (Euromonitor Passport, 2013) [available onsite via electronic sources]
from, usually, 2008 by sub sector, company and by brand, and share by distribution format such as

4 Julie Boadilla
grocery outlets or the Internet. UK report includes new product launches and company and brand
share by sub sector such as sports or casual formats.
Watches and Jewellery – UK (Mintel, 2012) [available onsite via electronic sources]
Analysis of sector, trends and purchasing patterns, including many tables showing responses to
questions on buying and usage behaviour.
World Silver Survey (The Silver Institute, 2012) [(B) MKT 338.4766923 BUS]
Covers market analysis, summary and outlook, silver prices, Investment, mine supply, supply from
above ground stock, silver bullion trade and fabrication demand.
Worldwide Jewelry Stores Industry (Barnes Reports, 2012) [available onsite via Business Source
Complete]Covers trends in industry establishments, sales, employment , size of firm industry
estimates, and industry ratios for 2009-2013.
Trade Magazines
Basel Magazine (CRU Publishing Ltd, monthly, 1999 onwards) [ZK.9.b.13909] (Humanities, must be
ordered on Explore the British Library).
Covering diamonds, watches, designers, luxury goods, market reports and trade show reviews
Crafts - the magazine for contemporary craft (Crafts council, 1973 onwards) [ P.423/209]
(Humanities, must be ordered on Explore the British Library).
Gems & Jewellery (Gemmological Association, 2005 onwards) [General Reference Collection
ZK.9.b.23145] (Humanities, must be ordered on Explore the British Library)
This journal is published quarterly, earlier title was Gem & jewellery news. Covering gems, precious
stones and the jewellery trade.
Gift focus magazine (Kline Davis Ltd) [(P) 381.4567-E(1)Bus]
Bi-monthly journal for giftware industry. Product and company profiles, trade shows and news,
including jewellery.
Gifts Today (Lema Publishing Ltd, 1997 onwards), [ZK.9.b.10592] (Humanities, must be ordered on
Explore the British Library).
This journal offers leisure, distribution, and consumer goods (including jewellery and giftware).
GR - Giftware Review [(B) 745.094105-E(1)Bus]
The last 4 years only held for this publication.
News of products in the giftware sector including jewellery.
Harrington & Hallworth (H&H) (Network Jewellery Magazines, 2008 onwards) [General Reference
Collection, ZC.9.b.8841](Humanities, must be ordered on Explore the British Library).
Annual publication on the jewellery and watch industry.
Jewellery Focus (Mulberry Publications, 2008 onwards) [General Reference Collection ZK.9.b.26500]
(Humanities, must be ordered on Explore the British Library).
A glossy monthly publication including articles, reviews, exhibitions and news.
Luxury Product and Service Briefing (Atlantic Publishing Ltd., 1995 onwards) [(P) AL 90-E (64) BUS]
Information on the luxury goods industries including jewellery.
Progressive jewellery (Max Publishing), [(P) 381.573927094105 -E (1) BUS]
The last 4 years only held for this publication.

5 Julie Boadilla
Trade magazine for retailers, wholesalers and importers. Includes company and retailer profiles,
bestsellers, product finder, new product and people news.
SA Jewellery News (Johannesburg: Diamond News and SA jeweller, 2000 onwards, monthly)
[(P) TN76-E (11)]
Contains information on the jewellery and diamond industry in South Africa.
Directories
The British Jeweller Yearbook (Retail Jeweller, 2008) [(B) DIR 338.47739270941 BUS]
Includes information on various aspects of the jewellery trade as well as details of forthcoming trade
fairs, and company listing and commodity indices.
Indicateur de L’Horlogerie (ISH Indicateur Suisse SA, 2011) [P.621/296] (Humanities, must be
ordered on Explore the British Library).
Watch and clock directory including styles, movements, fashion, gem, mechanical, quartz and sports
watches. Also includes larger wall clocks.
JCK (Jewellers Circular Keystone), Directory and Guide (Reed Business Information, 2008)
[(B) DIR 381.45739270294 BUS]
US directory including sections on diamonds, pearls and gemstones. Includes suppliers of finished
jewellery, watches and clocks. Also some company information.
Retail Jewellers Buyers Guide (Retail Jeweller 2009) [(B) DIR 381.457392702541 BUS]
A listing guide for sourcing raw materials, tools, equipment, etc. Also lists finished jewellery products
and services for retail jewellers.
Internet Sources
Association for Contemporary Jewellery
The Association for Contemporary Jewellery is devoted to the promotion, representation,
understanding and development of contemporary jewellery in the United Kingdom and abroad.
www.acj.org.uk
The British Jewellers Association
The national trade association promoting the growth and prosperity of UK jewellery and silverware
suppliers. With over 600 member companies, BJA represents manufacturers, bullion suppliers, casting
houses, diamond and gem dealers, designer jewellers and silversmiths, equipment suppliers and
wholesalers.
www.bja.org.uk
British Allied Trades Federation, BATF
Represents trade associations which represent the design, manufacture and supply of jewellery,
giftware, travel goods and accessories
www.bjgf.org.uk
The British Watch and Clock Makers Guild
Guild Council composed of practical experts who provide help for members with information and
solving various problems such as those concerning obsolete parts, Insurance, starting a business etc.
www.bwcmg.org

6 Julie Boadilla
The Crafts Council
Glossy review of important contemporary crafts people, reviews of exhibitions, details of craft
galleries, services for craft and decorative arts practitioners, specialist courses etc. Covers textiles,
ceramics, sculpture, metalwork, jewellery, lighting, furniture, applied arts etc.
www.craftscouncil.org.uk
The Jewellery Distributors’ Association of the United Kingdom
Trade body supporting those who wholesale, distribute, import and export precious and fashion
jewellery, accessories, watches, clocks and other items to the jewellery and allied trades.
www.jda.org.uk
The London Bullion Market Association
The trade association that represents London’s wholesale over-the-counter market for gold and silver.
The ongoing work of the Association encompasses many areas, among them refining standards.
www.lbma.org.uk
Major Jewellery Associations
Lists the major Jewellery Associations around the world.
info.goldavenue.com/Info_site/in_jewe/in_je_majo.htm
The National Association of Goldsmiths (N.A.G.)
Represents jewellery retailers.
www.jewellers-online.org
Responsible Jewellery Council
Promotes responsible business practices throughout the diamond and gold jewellery supply chain.
www.responsiblejewellery.com
The World Jewellery Confederation
Encourages harmonisation and international cooperation, and protecting consumer confidence in the
industry.
www.cibjo.org
Note: Every effort has been taken to ensure the accuracy of the information contained in this
document, however some recently acquired items may have been added to the collection since this
document was last updated. Please ask for help at the enquiry desk or check Explore the British
Library for more details.
Images by becca_and_rich, , Nikita, Glass Elements under a Creative Commons
license

CONSUMER MARKETS
The global gems and jewellery industry
Vision 2015: Transforming for Growth
A GJEPC–KPMG report

The gems and jewellery industry is extremely global in nature-given
the geographic dispersion of the value chain - from mining of
gold, diamonds, and platinum in Africa, Canada, Australia, and
Russia to polishing and jewellery manufacturing in India, China,
and Turkey, and retailing in the U.S., European Union, Japan, and
the emerging markets of China and India.
As one of the most traditional industries, it has witnessed
sweeping changes since the beginning of this millennium. Supply
sources have become fragmented, raw material prices have shot
up, and consumers have become more demanding and less loyal
than ever before. Regulators are cautious and consumer activism
is on the rise. These pressures have driven changes that are more
intense and lasting than any witnessed in the previous 50 years.
In the absence of a comprehensive global view of the current and
likely future state of the industry, players indulge in selective future
gazing. Given the leadership role of Gem and Jewellery Export
Promotion Council (GJEPC) of India in the development of the
industry, it was considered appropriate to initiate a study to take stock of the
current challenges and predict a future for the industry. KPMG, a global network
of professional services firms, which has done extensive work in the industry
joined in and over the last six months, teams from both organisations conducted a
study of the global industry.
The study focusess on understanding the current size and scale of the value
chain, identifying trends that will have an impact on the future, predicting the
likely state of the industry by 2015, recommending initiatives, and developing a
roadmap for various players given the expected changes in the environment.
Apart from interviews with major industry leaders to gather insights, the study
used quantitative modelling techniques to estimate changes in the size and structure
of the industry.
The report is limited to the precious jewellery segment of the industry, covering
the entire jewellery value chain and its three main elements – diamonds, gold,
and platinum, which constitute 95 per cent of the industry in terms of value.
Silver, coloured gemstones, and palladium have been covered partially.
1
Executive summary

Industry size, segments, and historical growth
The size of the global gems and jewellery industry is estimated at 146 billion U.S.
dollars (USD) at retail prices in 2005. The industry has grown at an average
Compounded Annual Growth Rate (CAGR) of 5.2 per cent since 2000.
Diamond-studded jewellery is the largest segment of this industry (2005 sales
estimated at USD 69 billion); it has grown at a CAGR of 5 per cent over the last
five years. The plain gold jewellery segment is a close second with total retail
sales of USD 60.7 billion in 2005. Over the last five years, this segment has
grown the fastest (at a CAGR of 5.5 per cent), a direct result of the rise in gold
prices (CAGR of close to 13 per cent since 2001).
2
CAGR
(2000-2005)
5.2%146
136
124
118
111113
0
40
80
120
160
200
2000 2001 2002 2003 2004 2005
USDbillion
Figure 1: Global jewellery sales (2000-2005), USD billion
Source: KPMG analysis
Plain gold
jewellery
41.6%
Others
5.0%
Plain platinum
jewellery
6.2%
Diamond
Jewellery
47.2%
Figure 2: Retail mix of various jewellery segments (2005)
Growth in industry segments
Market share of various jewellery segments

3
Sale of jewellery is concentrated in eight key world markets, which corner more
than three fourth of the world’s sales. The U.S. is the world's largest market for
jewellery and accounted for an estimated 31 per cent of world jewellery sales in
2005. India and China are the emerging centres of jewellery consumption and
have steadily increased their share of the pie to 8.3 per cent and 8.9 per cent,
respectively (2005)
Value addition at the two ends of the value chain is the highest, with intermediate
segments adding relatively lower value (29 per cent in diamond cutting and polishing
and 32 per cent in jewellery manufacturing).
Key trends and likely scenarios
Various socio-economic and political forces are driving the pace of change in the
gems and jewellery industry. These forces have given rise to a number of visible
trends (described in Figure 5) in each segment of the jewellery value chain:
• Sourcing: This segment has witnessed an increased fragmentation of rough
diamond supply, emergence of new mines, local beneficiation movement in
mining countries and a bull-run in precious metal prices. Competition and
overcapacity in polishing and high debt levels have placed intense financial
pressure on most players in traditional processing centres.
• Jewellery fabrication: Accelerating fashion cycles, relative factor costs
between manufacturing and consuming nations, and volatile metal prices
have fuelled a drive towards moving fabrication to low cost countries.
India
8.3%
Japan
8.3%
Turkey
2.9%
Middle East
8.9%UK
3.1%
US
30.8%
Rest of the
World
23.7%
China
8.9%
Italy
5.0%
Figure 3: Geographic share of the global
jewellery consumption (2005)
146
67.2
20.6
12.7
40.6
17.6
0.7
(2.4)
4.4
1.7
0.5
0 20 40 60 80 100 120 140 160
USD billion
Figure 4: The global gems and jewellery value chain (2005)
Eight key world markets
Diamond rough production
Diamond mine sales
Diamond rough trade
CPD output
Jewellery retail
World jewellery sales
Polished diamond inventory
Polished diamond trade
Precious metals
Jewellery
fabrication/wholesale
Polished diamond at wholesale
prices
The global gems and jewellery value chain (2005)

4
• Jewellery retail: Increasing consumer sophistication, dwindling investment-
driven purchases, and competition from other luxury goods are influencing
the quantum and pattern of jewellery consumption in markets across the
world. Stagnation in key jewellery markets and retail organisation in emerging
markets are continuously altering the geographic distribution of jewellery
consumption. Increased consumer consciousness about issues around
origin/source of product' and 'labour conditions in manufacturing countries'
adds to the complexity.
Diamond
mining
Coloured
gemstone
mining
Gold
mining
Platinum
mining
Recovery of
silver
Jewellery design
& fabrication
Jewellery
retail
SOURCES OF PRECIOUS STONES AND METALS JEWELLERY FABRICATION JEWELLERY RETAIL
Local beneficiation in
African countries
Gold price bull run
Steady supply of diamonds
emergence of new mines,
mining companies
Declining
market share
of large
diamond
marketing
companies
Diamond supply controlled by
few having high bargaining power
Traditional centres finding
rough procurement difficult
Increasing
rough prices
Technological
developments reducing
labour and skill intensity
Changing retail
channels
Competition and overcapacity
in traditional centres
High debt levels in
traditional centresHigh and volatile
platinum prices
Israel and Belgium
losing market share
High cost of financing
stock due to volatile
prices
Shrinking margins Stagnating demand in
the U.S. – the largest
market
Aggressive marketing to
boost demand
Creation of store
and product
brands
Competition from
other luxury items
increasing
Jewellery ‘s
declining value
proposition
Increasing consumer
sophistication
Consumer demand
for quality,
hallmarking gaining
importance
Emerging consumption
centres linked with
economic growth
Shortening fashion
cycles
Intense competition in
the export markets
Bullion
trading
Ore processing
& scrap
recovery
Gemstone
processing
Figure 5: Snapshot of key trends impacting the industry
Source: KPMG research

5
KPMG used the scenario analysis method for forecasting and modelling the
impact of each of these trends on the future of the industry. Based on trends
distilled from an analysis of current events and expectations of industry experts,
eight scenarios were identified as likely to cause a significant disruption to the
industry equilibrium.
The eight key scenarios that are likely to impact the industry are:
1. Mining countries encourage local beneficiation and capture a share of the
polishing industry.
2. Supply sources get fragmented and rough supply increases.
3. Consolidation occurs across the jewellery value chain.
4. Existing centres of the industry lose out in favour of new ones.
5. Substitutes such as synthetic diamonds and non-precious metals capture a
share of the precious jewellery market.
6. Demand for plain gold jewellery declines.
7. Large emerging retail markets such as China and India organise and
consolidate.
8. Jewellery loses out to competing luxury goods.
The effect of all the scenarios was estimated by building an economic model and
evaluating sensitivity of industry size and structure to the forces of change – first
independently, to each scenario, and later, collectively with assigned probabilities.
Future of the global jewellery industry
Based on the collective impact of the eight scenarios identified, projections were
made about the most likely industry end state. What follows are seven key
conclusions about the size, state, and structure of the industry in 2010 and 2015.
Global jewellery sales growth will be sluggish, and will see emergence of
new markets
Global jewellery sales will grow at 4.6 per cent year-on-year to touch USD 185
billion in 2010 and USD 230 billion in 2015. Palladium is expected to establish
itself as an alternative metal for jewellery fabrication, while gold and diamond
jewellery will continue to dominate the market together, accounting for about 82
per cent. Diamond jewellery will be the slowest growing segment at a CAGR of
3.3 per cent.
Growth in the industry will be slow as compared to that expected in other luxury
goods categories such as watches, perfumes, etc. For example, luxury apparel, a
USD 100 billion market today, is expected to grow at 10-15 per cent over the
next seven years1
.
CAGR
(2000-2005)
4.6%
146
185
230
0
40
80
120
160
200
240
280
2005 2010 2015
USDbillion
Figure 6: Projected global jewellery sales
(2010, 2015), USD billion
Sluggish world jewellery sales
1
Source: Global market review of luxury apparel - forecasts to 2012, Just - Style (2006)

6
China and India together will emerge as a market equivalent to the U.S.market by
2015. The Middle East will surface as another large market, accounting for close
to 9 per cent of the global jewellery sales in 2015.
Jewellery fabrication will feel the pressure of sluggish demand and will
move to new centres
Global jewellery fabrication output will grow at a CAGR of 5.1 per cent to reach
USD 95 billion by 2015. China and India will be the new centres for the fabrication
of studded jewellery, as the U.S.'s share will decline. Turkey will take over a
significant share of the gold jewellery fabrication market from Italy.
Value addition in diamond processing stage of the pipeline will increase
significantly
Cutting and polishing of diamond (CPD) centres will be the primary beneficiaries
of the fall in rough prices and value addition in polishing will increase from
29.3 per cent in 2005 to 34.1 per cent in 2015. They will also benefit from an
increased flow of diamond rough through the trade channel (a low margin route),
which would imply that rough prices being paid by CPD players will see a
downward trend.
The jewellery pipeline will see consolidation
Shrinking margins and increasing debt levels in the industry will force the
diamond industry to consolidate. This consolidation will have the maximum
impact on the diamond-processing segment of the value chain. Smaller players
will be acquired or will go out of business, and the following will emerge:
• Handful of large integrated gems and jewellery players
• High volume polishers
• Niche polishers
Others
5%
Plain Palladium
jewellery
6%
Plain platinum
jewellery
7%
Plain gold
jewellery
41%
Diamond
jewellery
41%
Middle East
9%
UK
2%
US
26%
RoW
28%
China
13%
India
12%
Italy
3%
Japan
4%
Turkey
3%
Figure 7: Projected share of various jewellery
segments (2015)
Figure 8: Projected share of key markets for
jewellery consumption (2015)
Projected share of industry segments and key consumption markets

7
• Mass jewellery fabricators
• Niche jewellery fabricators
• Several retail formats
The structure of the diamond-processing industry will change considerably
This segment of the value chain will see changes in rough allocation to countries,
emergence of strong players, and weaker ones exiting the market.
India's share of the processing pie will drop from 57 per cent today to around 49
per cent (in value terms) by 2015. China will emerge as a strong player with 21.3
per cent of the diamond processing share. By 2015, around 9 per cent of the
world's diamonds, in volume terms, will be processed locally by mining countries,
with Angola, Namibia, and Botswana emerging as profitable CPD centres in Africa.
Fragmentation of supply sources and slow diamond jewellery growth will
make the rough diamond industry more demand sensitive
Changes in demand-supply dynamics will decrease the ability of mining companies
to push rough at any price. Rough supply will become more fragmented. The
share of centralised distribution will decrease from the current 55 per cent to
less than 40 per cent (in value terms) and rough sold through traders will
increase to account for 45 per cent of total rough. As more rough is channelled
through traders and sold directly by mining companies, the industry will become
more competitive, leading to a drop in the value addition in diamond trading from
the present 12.9 per cent to 11.6 per cent in 2010 and 9.9 per cent in 2015.
Russia
7.1%
US
1.4%
South Africa
5.5%
Namibia
1.5%
Israel
4.7%
India
49.3%
China
21.3%
Botswana
5.3%
Belgium
0.7%
Angola
3.2%
Figure 9: Projected share of world diamond rough for processing (2015), in value terms
Projected structure of the global diamond processing industry

8
Demand-supply trends will also exert a downward pressure on rough prices,
which would fall by 15-20 per cent to ensure the sustainability of the downstream
industry.
A number of distinct business models will emerge along the value chain by 2015
By 2015, the industry will witness the emergence of six-seven large conglomerates
with presence across the jewellery value chain. These large conglomerates will
be the industry leaders of tomorrow.
In addition to this, players in each part of the industry vaue chain will evolve into
business models (described in Figure 10) which will enable them to remain
competitive in the changed industry scenario.
Large Mining Companies
Integrated Industry Majors
Multi-product
Retailers
(Global and
National)
Mass
Jewellery
Fabricators
Backward Integrated Retailers
Local Jeweler/ Independents
Junior Mining
Companies
Pure Play
Rough
Traders
Niche CPD
players
High Volume CPD Players
Niche
Jewellery
Fabricators
Jewellery
Brands
e-tailers
MNC Jewellery
Chains
National Jewellery
Retailers
Regional Jewellery
Chains
Value Chain
Relative
scale of
operation
Upstream Downstream
Mining Sourcing
Diamond
Processing
Jewellery
Retail
Jewellery
Fabrication
Figure 10: Sustainable business models of the future (2015)
Structure of the industry in 2015

9
Aspirational view of the future
While a modelling of the realistic case showcases the most likely turn of events,
history is witness to collective action changing industry fortunes. We believe that
if the actions recommended in this report are undertaken, the industry has the
potential to grow beyond USD 230 billion.
We have estimated the range of impact to be around USD 50 billion, taking the
industry size to USD 280 billion by 2015. In such a situation, the industry would
be growing at a CAGR of 6.7 per cent, an increment of 2.1 per cent over the
realistic case. At this rate, the industry would be growing faster than the Gross
Domestic Product (GDP) per capita and would be claiming a share of the market
from other luxury goods.
Diamond and plain gold jewellery (product segments) and India and China (markets)
will contribute the bulk of this incremental growth. This additional growth will
also have a salutary impact on other parameters of industry health e.g. inventory
levels (will decrease from 19 per cent to 7.5 per cent).
In order to realise this vision, stakeholders must come together, overcoming
internal differences and competitive issues, to undertake certain actions.
Action programmes for the industry
To realise its potential by 2015, the industry would have to focus on growing
demand for jewellery as a category and strengthening industry-level and
enterprise-level capabilities. These programmes need to be initiated within the
next 12-18 months for its benefits to be realised over the next 10 years.
0
100
200
300
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
USDbillion
Aspirational case
Realistic case
50
billion
Figure 11: Projected potential jewellery sales
(2015), USD billion
US
35%
China
25%
India
17%
Middle East
9%
Turkey
9%
Others
5%
USD 50
billion
Figure 12: Contributing markets to additional
growth of USD 50 biilion
Others
5%
Plain palladium
jewellery
5%Plain platinum
jewellery
1%
Plain gold
jewellery
43%
Diamond
jewellery
46%USD 50
billion
Figure 13: Contributing product segments to
additional growth of USD 50 billion
Capturing the industry potential – segments and markets
Jewellery sales could reach USD 280
billion by 2015

10
Develop demand for jewellery as a category
The biggest threat that the jewellery industry faces is from other luxury goods
industries. The industry needs to get together and defend itself against this
onslaught. If jewellery as a category can outgrow other luxury goods industries,
the benefits would be enjoyed by all constituents of the industry just as the problems
of low demand growth will be shared by all. Several initiatives will have to be
undertaken to foster the growth of jewellery as a category.
• Promote jewellery as a category instead of distinct metals and stones:
While individual promotion organisations (World Gold Council, DTC, Rio Tinto
Diamonds, Platinum Guild International, etc.) have done a great deal to
sustain the demand for jewellery at its current level, much more can be
achieved if these agencies were to act collectively. We recommend the
formation of World Jewellery Federation, a nodal body comprising various
segments of the industry which will promoting jewellery as a category.
• Identify new product and consumer segments: Unlike other luxury goods,
the target segments and value proposition of jewellery have remained
relatively unchanged. We believe it is time for the industry to think creatively
and target new customer segments and address newer needs. This
extension is an absolute necessity for guarding against stagnating sales.
• Manage the portfolio of markets: Like any enterprise, an industry needs to
have a portfolio of markets – markets that provide scale (large volumes, slow
growth), markets that provide growth (smaller volumes growing rapidly), and
markets with high potential for growth and volumes. For this the industry
needs to -
Grow the
jewellery
market
Strategic
Capabilities
Operational
Capabilities
Financial
Capabilities
Supporting
Capabilities
Strategic
Capabilities
Operational
Capabilities
Financial
Capabilities
Supporting
Capabilities
Build enterprise capabilities
Buildenterprisecapabilities
Figure 14: Action plan for the industry
Agenda for realising industry potential

11
Re-establish value proposition in developed markets: Stagnation in
developed markets must be dealt with through aggressive marketing
and brand development, product and service innovation, and reaching
out to untapped consumer segments.
Maximise potential of emerging markets: Attractive emerging markets
like India and China suffer from lack of organisation, disparate trade
practices, and extreme fragmentation. Industry bodies need to work
with governments in these countries to modernise and transform
these markets. Several segments within these markets remain
untapped by large modern players due to lack of local knowledge or
absence of scale.
Identify markets of the future: We believe there are several other
markets like Russia, and Brazil, which are likely to be high-growth
economies and as such have the potential for jewellery consumption.
Such markets need to be uncovered through trade delegation visits,
conscious efforts by industry-promotion bodies, and bilateral
discussions between local governments and governments of
jewellery-manufacturing countries.
Strengthen industry-level capabilities
If the industry is to compete with the more glamorous, well-entrenched, and
significantly researched luxury goods industry, players will have to come together
to improve the general health of the sector. Increased transparency,
professionalising, lowering of financing costs and attracting high quality talent are
the needs of the hour.
• Enhance image of the industry in the eyes of governments, regulators,
and consumers: The traditional image of the industry poses a barrier for
growth which is compounded by allegations of conflict diamonds, suspected
links with money laundering, and lack of transparency. The industry needs to
recognise this as a challenge and work towards eliminating such
allegations/suspicions wherever possible and containing the problem where
elimination is not possible.
Publish information: Publishing as much data and information as
possible about the industry is one sure way of making the industry
visible to analysts and external stakeholders and alleviating doubts. At
present, data is available on mining (most countries) and retail (only
the U.S.), unlike other industries where industry bodies or players
themselves regularly put out information in the public domain for the
benefit of external stakeholders.

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