Economy
The economy has a direct influence on the UK jewellery trade, affecting consumer spending, material costs, and business confidence across the sector. For jewellers, manufacturers, and suppliers, staying informed on economic trends is vital to planning and resilience. Jewellery Focus provides expert coverage of economic developments impacting the trade, including inflation, interest rates, consumer confidence, and supply chain challenges. Our reporting helps jewellery professionals understand the wider market forces shaping their business environment.
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Apr- 2025 -15 AprilRetailers
UK sales increase 1.1% in March thanks to good weather boost
UK Total retail sales increased by 1.1% year on year in March, against a growth of 3.5% in March 2024, with gardening and DIY sales being boosted by good weather. New data from the BRC and KPMG revealed that the increase was below the 3-month average growth of 1.6% and…
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Feb- 2025 -20 FebruaryEconomy
UK consumer confidence drops to new low in February
UK consumer confidence slipped to a new low of -37 in February, amid the worsening state of the economy. According to the latest BRC-Opinium Consumer Sentiment Monitor, the economy worsened for the fifth consecutive month, down from -34 in January. The BRC reported that even Gen Z, despite being the…
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4 FebruaryManufacturers
De Beers and Botswana secure rough diamond sales agreement
The Government of the Republic of Botswana (GRB) and De Beers Group have agreed a deal establishing a new sales agreement for Debswanaโs rough diamond production. Alongside this, the deal has extended Debswanaโs mining licences in the country beyond 2029. This development is in alignment with the heads of terms…
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Jan- 2025 -30 JanuaryEconomy
Value of diamonds has plummeted in past 2 years, warns 77 Diamonds
Both natural and lab grown diamonds have seen a significant reduction in value, according to online jeweller 77 Diamonds. Over the last two years, the value of a 1ct natural diamond, based on the cost price of round diamonds, has fallen by 34%, whilst a 2ct stone is now worth…
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Dec- 2024 -23 DecemberEconomy
BRC warns of โspending squeezeโ in January
The British Retail Consortium has warned of a January spending squeeze, as BRC-Opinium data between 10 and 13 December showed that peopleโs spending intentions dropped 6pts. It comes as public confidence in the state of the economy โtook a nosediveโ, falling 8pts to -27, creating a widening gap between expectations…
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Nov- 2024 -29 NovemberTrade Organisations
UKJSAC advises on governmentโs Industrial Strategy Consultation
The UK Jewellery, Silverware, and Allied Crafts (UKJSAC) Roundtable has shared its insights with the Department for Business and Trade as part of the government’s consultation on its Industrial Strategy Green Paper, unveiled in September. This submission highlighted the jewellery sector’s vital role in driving both economic growth and social…
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Oct- 2024 -3 OctoberDesigners
Bulgari UK falls to ยฃ3.2m loss
Bulgari UK has revealed that it posted a loss of ยฃ3.2m for the year ended 31 December 2023 a 193% drop from the ยฃ3.5m profit it posted in the previous year. Alongside this, the luxury goods company earned ยฃ54.6m in UK sales last year, compared with ยฃ60.3m in 2022, a…
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Aug- 2024 -16 AugustNews
UK gold investors โbuy the dipโ amid global marketsโ latest storm
Bullion trading via The Royal Mintโs website trebled (336%) after global financial markets plummeted on Monday (5 August 2024), the Royal Mint revealed.ย The number of investors transacting increased by 53%, compared with this yearโs daily average, with precious metals buying outpacing selling by a ratio of 5:1 Additionally, 1oz…
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9 AugustNews
Diamond prices plummet in July
Diamond prices dropped sharply in July amid slow retail sales and an oversupply in India, according to Rapaportโs RapNet Diamond Index. The seasonal summer slowdown also had a negative effect on sales. The RapNet Diamond Index (RAPIโข) for 1-carat goods, reflecting round, D to H, IF to VS2 diamonds, slid…
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8 AugustManufacturers
Royal Mint unveils new e-waste gold extracting factory
The Royal Mint has announced the launch of a new factory which will extract gold from electronic waste. Located in south Wales, the 3,700 sqm facility uses chemistry from Canadian clean tech company Excir to extract gold from printed circuit boards (PCBs). The factory has scaled the innovative technology from…
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