Coronavirus
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Jun- 2020 -5 June
Consumer confidence slips further amid UK lockdown
GfK’s long-running Consumer Confidence Index has decreased by two points over the past two weeks. In the market research firm’s third Covid-19 flash report, it found that the measure for the general economic situation of the country dropped five points to -60 between 20 and 26 May. Additionally, the outlook…
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4 June
LVMH retreats from Tiffany takeover
Luxury powerhouse LVMH has announced that it will no longer go ahead with its proposed takeover of Tiffany & Co in light of “recent market rumours” amid the pandemic. LVMH had initially announced a “definitive” agreement with the luxury jewellers last November, whereby it outlined its intention to acquire the…
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3 June
Biggest decline in shop prices since 2006
May shop prices tumbled at the fastest rate of decline since 2006, falling by 2.4% against a 1.7% decrease in April. This was “largely” driven by a sharp fall in non-food prices, which fell “sharply” by 4.6% in the period, compared to a decline of 3.6% the month prior. This…
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3 June
Diamond markets begin to regain traction
Diamond trading is once again starting to regain traction, according to the latest data from diamond group Rapaport. Its latest report revealed that polished prices were stable in May despite “minimal” trading, with business limited to online platforms. The latest RapNet Diamond Index for 1-carat diamonds also rose 0.2% during…
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3 June
Hiring starts to pick up in retail industry as lockdown eases
Hiring has started to pick back up in the retail industry last month, with job vacancies advertised increasing by an impressive 27.1% month-on-month, according to the latest data from CV Library. The study looks at job market data throughout May and compares this with figures from the previous month (April…
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2 June
NAJ releases online courses for jewellery industry
The National Association of Jewellers has published two training courses to help retailers, manufacturers and suppliers within the industry demonstrate compliance with its issued guidance. The two courses include one course for retailers and one for course suppliers. Both have been produced using the association’s four-step ‘people first’ Covid-19 guidance,…
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1 June
UK consumers want ‘more opportunities’ to support local businesses
Some 54% of UK consumers said they would like more opportunities to support local businesses during the current ongoing lockdown, such as being able to purchase vouchers in exchange for future goods. The findings come from new research published by ActLocal.co and VCCP Ignite, who also found that 63% of…
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May- 2020 -29 May
Beaverbrooks to reopen sites with additional safety measures
Beaverbrooks has announced a new host of safety measures that it will implement ahead of its planned opening next month. Following the prime minister’s announcement that non-essential retailers would reopen on 15 June, the jewellery chain confirmed that it was planning to resume trading across its 70 stores in England. …
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29 May
Stonehawk offers free online consultations to jewellery trade ahead of reopening
Security training provider Stonehawk is offering free and confidential online meetings regarding security, mental health and wellbeing to business in the jewellery industry prior to reopening. The consultations follow on from the support Stonehawk offered to the trade last week during Mental Health Awareness Week. Simon Wilson, managing director of…
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28 May
NAJ publishes updated guidance for jewellers
The NAJ has published a third version of its guidance for jewellers ahead of the reopening of non-essential stores on 15 June. The guidance now includes a “clear differentiation” between tasks and activities that are deemed mandatory, and those that can be “considered” by jewellery stores. The update was shaped…
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