Jewellery in South Africa

PROSPECTS

Affluent consumers also search for affordable fine jewellery

Despite holding dominant retail volume share within overall jewellery in South Africa, demand for costume jewellery declined in line with decreasing disposable incomes for low- to mid-income consumers due to economic instability, who form the main target audience of this category.

Foreign tourists help support sales of fine jewellery, keen to secure a coveted South African diamond

Spending amongst foreign tourists remained evident in South Africa at the end of the review period, especially for high-quality fine jewellery, with diamonds retaining stable demand, especially 0.5 carat diamonds.

Consumers of fine jewellery appreciate personal service and guarantee of specialist retailers

Jewellery and watch specialist retailers strengthened its domination of distribution for fine jewellery in 2019, with consumers placing a great deal of trust in branded stores that they perceive to offer the greatest quality and authenticity. They appreciate the personal service offered by specialist retailers in addition to being able to handle and try on various types of jewellery, learning about the craftmanship behind the pieces they are going to buy.

COMPETITIVE LANDSCAPE

Browns the Diamond Store strengthens leadership due to strong reputation in fine jewellery

Browns the Diamond Store (Pty) Ltd strengthened its leadership of overall jewellery in 2018, due to its strong position and reputation in fine jewellery. The retailer is known for producing unique and well-crafted designs, made from legitimately sourced premium diamonds and other gemstones such as tanzanite.

Costume jewellery appeals to all ages and all income levels

Costume jewellery is the larger of the two categories within jewellery in South Africa and caters to a wide range of income groups and demographics, led by direct selling brand Avon. This brand offers jewellery at accessible prices, often with a focus on the latest fashion trends or a fun element to appeal to those consumers who are looking to complement an outfit or wear for one season.

Smaller players struggle to compete with brands of global reputation

Smaller players within fine jewellery continue to face tough competition from larger players, as more affluent consumers prefer well-known brands such as Browns, Shimansky and Cartier. This consumer group, especially millennials, tend to be targeted by larger players, given their influence on jewellery trends as they follow celebrities on social media, and want to replicate these looks to show their wealth and social status.

Files are delivered directly into your account within a few minutes of purchase.