Jewellery industry experts reveal how they believe the luxury jewellery market will evolve this year.
Significant factors will include Brexit, and consequently the Pound, and the way consumers shop online.
Frost of London founder, Dino D’Auria, predicts a very good year for luxury jewellery. He explains: “I envisage a very good year ahead largely due to the weak pound which will make the UK a prime destination.
“High-end clients will be opting to shop in London for the first time in quite a while and therefore it is vital to be holding appropriate stock, principally, more expensive pieces.”
A recent report reinforced London’s positioning as a global leader in high-end jewellery retail, placing the city as the number one city for luxury retail in the world. Based in Bond Street, Frost of London is in the perfect located to capture international consumers taking advantage of the Pound, and local shoppers on stay-cations.
In the same street resides luxury jewellery retailer David Morris. The store’s chief exec believes colourful and unusual gemstones will shine this year.
David Morris chief executive officer, Jeremy Morris, shares: “The luxury jewellery industry is introducing more colour into the market. 2017 has started with a very strong interest from consumers in pigeon blood Burma rubies, Kashmire sapphires, paraiba tourmalines and padparadscha sapphires. These are incredibly rare and highly unusual stones, and this in itself creates a sense of desirability.”
D’Auria says on the watch front rose gold watches will remain very popular.
As Baselworld kick starts tomorrow, the watch and jewellery industry will soon have a clearer picture of the trends set to lead the way over the next 12 months as market leaders unveil the creations they’ve been working on to wow consumers this year.
Elsewhere, ROX managing director, Kyron Keogh, thinks the biggest change in the luxury jewellery market will be how the customer purchases high-end goods this year.
“We expect to see higher value jewellery purchases online,” says Keogh. “Where traditional high value purchases would be in-store only, we’ll see customers jumping across multiple channels. As a business that focuses heavily on an exciting and thrilling customer experience in our boutiques, a major challenge will be how to translate that online.”