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Learn moreFeb 2020
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International travellers to South Africa represent an important customer base for luxury jewellery. There is the perception that diamonds are sourced from Africa and as such they are more likely to be cheaper when purchased from here.
The success of players in this niche lies in their ability to have a close relationship with their clientele and offer differentiated products. Players such as Browns offer custom jewellery services, although there is a minimum value requirement for such services.
The majority of products in luxury jewellery in South Africa have a European influence in terms of their design. High-net-worth individuals with African heritage are increasingly looking for African-inspired luxury items, and this trend has been observed across multiple categories.
Browns has a strong reputation thanks to the quality of its diamonds and its guarantee that it only deals with ethically sourced diamonds. Wealthy shoppers are becoming increasingly aware of the importance of ethically sourced diamonds and are becoming more demanding in regard to the relevant certifications before buying luxury jewellery.
More mono-brand stores are opening locally and stocking a wider collection of items. Brands such as Burberry and Hugo Boss are striving to give the same shopping experience to their African consumers.
As more luxury players enter the category and offer more diversified product portfolios, including costume jewellery, sales are benefiting, with the overall decline becoming milder in 2019. However, the price of luxury costume jewellery can be as high as entry-level silver or smaller products of lower-carat gold.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Luxury Jewellery industry in South Africa with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Luxury Jewellery industry in South Africa, our research will save you time and money while empowering you to make informed, profitable decisions.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.