Economy

Figures analysis: January to September hallmarking jumps 19%

Overall hallmarking figures have shown an increase of almost 19% in the first nine months of 2014, compared with the same period the previous year. So far the biggest year-on-year increases on a by-month basis were January and May, which increased 31% and 27% respectively compared with their corresponding time…

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September retail sales ‘worst since December 2008’, Christmas outlook remains positive

UK retail sales in September were down 2.1% on a like-for-like basis compared with September 2013, when they had increased 0.7% on the preceding year.  The new figures from the British Retail Consortium’s BRC-KPMG Retail Sales Monitor found in total, sales were down 0.8%, against a 2.4% rise in September…

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Shop prices remains deflationary for 17th month: BRC

Overall shop prices reported deflation for the seventeenth consecutive month, accelerating to 1.8% in September from 1.6% in August.  This is according to the BRC-Nielsen Shop Price Index in which non-food industries (including clothing and footwear) reported acceleration in deflation of 3.2% in September from 2.9% in August. Helen Dickinson,…

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Precious metal prices fall to lowest in 15 months

The gold price fell to its lowest level for 15 months on October 6 after improved US employment figures boosted the dollar, according to Reuters.  The price of gold, which influences the price of other precious metals, hit its lowest level since June 2013, at $1,183 (£735) an ounce. Platinum…

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Jewellery and watch market to grow by 1.8%, says Mintel

Research company Mintel has estimated that the watch and jewellery market will grow by 1.8% by the end of 2014.  According to its ‘Watches and Jewellery Retailing – September 2014’ report, this year’s growth has been driven by rising consumer confidence and the expansion of the watches sector. Gold is…

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Record 900 million orders for e-tailers, says IMRG

UK retailers are on course to dispatch a record 900 million orders or 930 million parcels in 2014, with 120 million projected for December alone.  This is according to the latest August IMRG MetaPack Delivery Index which has predicted a record year for e-tailers. As predicted, online retail sales fell…

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CBI: ‘Solid’ high street growth continues, pace of growth eases

Retail sales volumes continued to grow solidly in the year to September, albeit at a slightly slower pace than in the previous month, according to the latest figures from the Confederation of British Industry (CBI). Its latest monthly Distributive Trades Survey of 123 respondents also showed that the volume of orders…

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Global diamond demand reaches record levels, says De Beers

Global demand for diamond jewellery reached a record high of $79bn (£48bn) in 2013, according to the inaugural Diamond Insight Report published today by De Beers.  However the report claims that “substantial investment will be required in diamond production, technology, and branding, marketing and retail standards” if the industry is…

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F Hinds joins 100 firms demanding rates overhaul

Britain’s largest independent family jeweller, F Hinds has joined more than 100 of Britain’s biggest companies calling for business rates to be overhauled. The signatories of the open letter, published in The Daily Telegraph on Tuesday, call the conversional tax a “critical problem”, saying that business rates “are no longer…

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Shop vacancy rates improving but north vs south divide persists

Shop vacancy rates have seen an improvement in the first half of the year but a strong north/south divide remains, according to new research.  A new report published by the Local Data Company (LDC) said H1 shop vacancy rates have shown marked improvement towards the end of the year from…

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