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Learn moreJan 2021
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The COVID-19 pandemic led to a sharp fall in spending on luxury jewellery in 2020, with women’s luxury fine jewellery recording the steepest decline. Reduced consumer confidence in the context of economic uncertainty and pressure on disposable incomes impacted spending on high-ticket items, while the category was also hit by travel restrictions and lockdowns, which led to lower tourist spending.
Prior to the COVID-19 pandemic, growth in luxury jewellery was driven by the increasing availability of affordable luxury featuring the use of semiprecious gemstones such as rubies, sapphires and emeralds, along with strong growth in luxury costume jewellery, both of which helped to widen the overall consumer base. Reflecting this, luxury costume jewellery recorded a lower decline in retail value sales in 2020 compared to the largest category of luxury fine jewellery.
Many of the more traditional luxury jewellery brands rely heavily on store-based sales and have a limited digital presence. This hindered their ability to quickly adapt and remain agile in the face of the challenges posed by the COVID-19 pandemic in 2020.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Luxury Jewellery industry in Turkey 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 Turkey, 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.