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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Feb- 2018 -13 FebruaryInternational
De Beers to sell Elizabeth Bay mine
Namdeb, a 50/50 partnership between diamond giant De Beers Group and the Namibian government, has announced it is seeking a buyer for its Elizabeth Bay mine in Namibia. The mine, which was commissioned in 1991 and is located near the town of Lüderitz, employs around 160 people and produced around…
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7 FebruaryInternational
Israel Diamond exchange launches new Diamond Tech innovation centre
The Israel Diamond Exchange (IDE) has launched a new innovation centre, Diamond Tech, to host and support diamond related startup companies. Located within the IDE complex, the centre will help IDE promote new technologies that will bring added value to the diamond industry as well as to other sectors. Carats.Io,…
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6 FebruaryRetailers
Consumer spending grows 3.9% in January
Consumer spending increased 3.9% in January, partially driven by price increases that continued to drive uplifts in ‘essential’ spending. That is according to data from Barclaycard, which processes nearly half of the nation’s credit and debit card transactions. Spending growth on day-to-day necessities surpassed 4% for the first time in…
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Nov- 2017 -23 NovemberCurrent Affairs
Retail associations respond to ‘encouraging’ Autumn Budget
A number of retail associations have responded positively to the Chancellor’s Budget which was revealed yesterday (22 November). The British Retail Consortium (BRC) and NFU Mutual reacted to the announcement that the move from RPI to CPI indexation will be brought forward by two years to 2018, allowing for a…
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8 NovemberEconomy
Spending growth slows to 2.4% as consumers feel ‘inflation squeeze’
Consumer spending growth slowed to 2.4% year-on-year in October which, with inflation at 3%, equated to a contraction in real terms. Brits cut back across the board to cope with their diminished spending power, and in anticipation of a potential interest rate hike. Data from Barclaycard revealed that spending on…
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Oct- 2017 -25 OctoberEditor's Blog
Fighting back against the algorithms
Now that the show season has cooled down, we head into the final quarter of the year, and begin gearing up for the Christmas sales period. The retail landscape remains challenging, but the UK economy continues to hold up in reasonable condition, and there are some significant reasons to be…
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23 OctoberCelebrities
Fit for a Disney princess: F Hinds values character rings
From Aladdin and Jasmine, to Cinderella and Prince Charming, marriage is at the heart of most Disney films. But which Disney princess boasts the most expensive engagement ring, and which settled for the more modest option? Using real life valuations at today’s prices, jewellery retail chain F Hinds has estimated…
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10 OctoberCurrent Affairs
Jewellers’ customer data at risk from new EU legislation
Customer engagement specialists, Redblok, have warned that many business owners are unaware of new EU data protection legislation that will impact how businesses in the jewellery and luxury goods sectors can collect, retain and process their customers’ data. The General Data Protection Regulations (GDPR) will come into force on 25…
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Sep- 2017 -21 SeptemberAdvice
3 sure-fire strategies for UK jewellers in uncertain times
Three big news topics that concern the UK jewellery industry have recently been debated in both mainstream and industry media: Brexit, a shifting economy and the challenge of marketing luxury goods to millennials. As a consequence, many UK jewellers feel that they now have to make strategic business decisions in…
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Jun- 2017 -30 JuneEconomy
Significant rise in business confidence
Overall business confidence has risen significantly since the start of the year, according to Lloyds Bank. The latest Business in Britain report from Lloyds Bank, based on data gathered after the snap election was called, showed that the confidence level had increased by 24%. The confidence index – an average…
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