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Friday, 6th May 2005 (6079 views)

Jewellery sales in the US have risen in recent months, although analysts say that it remains a difficult market for many in the industry.<br/><br/>Statistics from diamonds.net showed that US sales jumped by 5.4 per cent in 2004 to $47.2 billion in comparison with the previous year.<br/><br/>Industry observers identified the main drivers of this growth as large branded jewellery goods from mass retailers such as Amazon and Wal-Mart.<br/><br/>Indeed, demand is said to be moving towards this discount, mass-market trend, which has proved expensive for many independent retailers who are struggling with the high costs of precious metals.<br/><br/>Both gold and platinum pieces have become increasingly expensive in the last year, with the metal prices soaring.<br/><br/>One other key trend identified is the emergence of luxury jewellery as a major market.<br/><br/>Consumers have shown a willingness to spend more on high-end, one-off pieces, in an indication of a polarised market in the context of the mass-market success of the major retailers.<br/><br/>Luxury firms such as Tiffany, Mayors Jewelers and Harry Winston have all enjoyed strong profits on the back of this movement, with specialised "celebrity-style" pieces attracting customers.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8440510"/>

 

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