Western Europe

The COVID-19 pandemic has brought about significant changes in business models and consumer behaviour, as well as altering the ways and the geography many of us live, work, study and play. Understanding what changes will stick after the pandemic…

The Turkish economy has grappled with prolonged economic instability and high inflation, resulting in restrained volume sales. Lengthy recovery post two significant earthquakes, impacting a fifth of the population, and the country's unstable economic…

Personal accessories is anticipated to keep expanding in retail volume terms in the UK in 2023, due to continued indulgence amongst consumers in the country, as well as the resurgence and growth of inbound tourism. While sales are also anticipated to…

Personal accessories is anticipated to experience subdued growth in 2023, influenced by factors such as inflation, increased energy costs, and higher taxes, leading to a dampened demand. This slower recovery follows a previous year of rapid growth.…

The interest and demand for personal accessories in Switzerland, encompassing bags and luggage, jewellery, traditional and connected watches, and writing instruments, were poised to remain robust in 2023. However, following two years of robust growth…

Sales of personal accessories in Sweden continued to expand in current value terms in 2023, although the rate of growth was more modest compared to the previous year. Performance was boosted by a return to pre-pandemic lifestyles, including increased…

2023 saw a return to relative normality in Spain with the World Health Organisation declaring the health crisis to be over. All COVID-19 related restrictions had been lifted by July 2023 which helped to boost consumer confidence and resulted in…

Personal accessories continued to perform very well in Italy in 2023, seeing sales rise across categories as Italian consumers returned fully to normal life after the long years of the pandemic. At the same time, travelling, going out and working…

Personal accessories faced slow growth in 2023, due to economic uncertainty. Consumer confidence revived somewhat towards the end of the year, but spending is expected to remain constrained, due to the global financial and labour crises. Hybrid and…

Generally, 2023 has been a positive year for value sales of personal accessories in France, while overall demand is declining, depending on the category. The main contributor to value growth is a normalisation effect post-pandemic, inflation and…

Jewellery sales in Western Europe slumped in 2020, with Coronavirus (COVID-19), and the measures taken to try and control its spread, having a negative impact on fine jewellery sales in particular. The closure for extended periods of non-essential…

Weddings in Turkey gained momentum post-pandemic in 2021 and 2022. However, a slowdown in 2023 is evident, resulting in lower growth rates in jewellery sales compared to the years 2021 and 2022. Notably, millennials and Gen Z prefer to allocate their…

The shift in consumer preference towards preferring experiences, and products that provide experiences, such as travelling, or purchasing a home, rather than owning things, is continuing to have a negative impact on sales of jewellery in the UK.…

Jewellery, as a product area, is anticipated to experience positive albeit subdued growth in 2023. Economic uncertainty coupled with escalating prices has led to a more cautious approach among Dutch consumers regarding expenditure on non-essential…

Building on the positive momentum from the previous year, jewellery in Switzerland witnessed dynamic growth in 2023, led by the growing demand for costume jewellery. This trend, reminiscent of 2022, underscored shifting consumer preferences towards…

Retail sales of jewellery continued to expand in current value terms in 2023, although the rate of growth was slower than the previous year. Following the resurgence of family events, such as weddings, in 2022, following enforced delays due to the…

Jewellery witnessed slower growth in retail volume terms in 2023 compared to 2022 with sales remaining well below pre-pandemic levels. Since Russia's invasion of Ukraine in early 2022 the price of food and energy has risen sharply, while most…

Jewellery performed well in Italy in 2023 despite a high rate of inflation and an increase in prices, especially for fine jewellery, which saw stronger growth than custom jewellery in both volume and value terms during the year. In fact, the…

After 2022 saw double-digit growth in jewellery sales in Germany, 2023 showed signs of a slowdown. Among the drivers that led to a revival in the jewellery industry in 2022 were a renewed sense of freedom to socialise and enjoy life after two years…

Jewellery remains a resilient performer in France, already recovering to 2019’s retail volume sales levels in 2021. Ongoing demand is not only due to a positive offsetting effect post-pandemic. There is a kind of paradox in a country with elevated…