Thursday, 10th November 2005 (3662 views)

Luxury goods such as gold jewellery are tipped to sell well this year.

According to Ernest & Young's holiday sales forecast, sales of luxury items are likely to be strong despite the dip in consumer confidence, reports Rapaport.

Jay McIntosh, America's director of retail and consumer products, told Rapaport that hand-fashioned yellow gold would sell well, as would jade and earth coloured stones set in yellow gold.

Last year retail sales increased by 8.3 per cent in the US.

This comes as China is experiencing a growth in its luxury goods market, with Ernest & Young predicting that its share of the luxury goods market could rise from 12 per cent to 29 per cent by 2015.

However, its share is still behind the US' current total of 17 per cent and Japan's share of 41 per cent.

 

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