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Summary and extracts
1 Market summary
1.1 Definition and presentation
The costume jewelry industry-from the French word bijouterie-is identified as a sub-segment of the broader jewelry market. To be classified as imitation jewelry for costume purposes, these items cannot contain more than small amounts of precious metals. They must be made primarily of base metal or non-precious materials (such as wood, glass or plastic). The broader category of costume jewelry, which has the characteristics just mentioned, includes three subcategories which, within the scope of this study, will be treated as one under the name "costume jewelry" since they have the same structural characteristics and differ only in the purpose of their use:
- Imitation Cost ume Jewelry: reproduction of jewelry with non-precious metals and stones. The term originated around the year 1930 when Hollywood began to prefer imitations rather than actual precious jewelry, mainly for safety issues. This type of jewelry, however, has been around for much longer, since the 1700s when the world of luxury began to be democratized and imitation jewelry allowed less wealthy individuals access to it.
- Branded costume jewelry also known as fashion jewelry, can still be considered imitation jewelry but is more connected to the latest fashion trends and is often used to make bold statements about one's sense of style without having to spend an inordinate amount of money.
- Fantasy jewelry these accessories are made from different types of metals and stones such as resins, glass, wood, mother of pearl, etc.
Accessories that are part of the world of personalized and fashion jewelry can be divided according to the type of product, and among the most relevant are:
- Necklaces
- Bracelets
- Earrings
- Rings
Globally, the custom jewelry market is experiencing an extremely prosperous period, driven more by an increasing focus on fashion and its trends than anything else. The market is extremely competitive and has few barriers to entry, being essentially based on the production of jewelry that is non-precious and therefore not made from expensive but aesthetically appealing raw materials.
In Italy, a country where jewelry and craftsmanship have a really important historical significance, households are spending on average more on costume jewelry than in the past, reflecting the global trend toward more affordable jewelry and amplifying it thanks to Italians' passion for handmade pieces.
The number of employees of companies active in the jewelry and costume jewelry sector in this country has consequently increased to account for almost a quarter of total employment in the same sector in the European Union in 2020 [ Eurostat ] .
The costume jewelry segment in Italy appears to be driven primarily by the growing impact of social media on purchasing choices and thus the evolution of online distribution channels, as well as the emergence of new styles and preferences such as personalization and the rising price of gold and silver
The main players in the sector that exclusively sell costume jewelry are "CA&LOU," a young company specializing in the creation of swarovskate jewelry, and Angela Caputi Giuggiù's "Angela Caputi," a designer specializing in the creation of scenic and artistic plastic jewelry. But this segment is also composed of increasingly important players who sell both precious and costume jewelry and come from both the fast fashion world and the world of large online wholesalers.
1.2 The global market
The global costume jewelry industry is a dynamic and growing sector that includes the manufacture and sale of non-precious jewelry and accessories. This market offers a wide range of products, including earrings, bracelets, necklaces, rings, brooches, and more. Costume jewelry is often made of inexpensive materials, such as plated metal, glass, ...
1.3 The Italian costume jewelry market
Regarding the analysis of the Italian jewelry market, it is necessary to dwell on one aspect: in the first seven months of ****, as much as *.* billion euros worth of products were exported outside national borders. In particular, Italian costume jewelry performed exceptionally well in the January-September **** period, touching nearly the figure ...
1.4 Imports and exports in the non-precious stones and costume jewelry sector
As can be seen from the graph below, the export of the product is significantly higher than the value of imports. The only exception is ****, a year in which import growth of ** percent was established, almost reaching the value of exports and, graphically, decreasing the foreign trade coverage ratio. Drastic, however, ...
1.5 COVID-19 Impact
Global manufacturing has been hit by the shock caused by the pandemic, having recorded the lowest rate of expansion of industrial activity in the past decade. According to expectations, none of the major industrialized areas of the planet managed to avoid a sharp decline in value added in ****, with the exception ...
2 Demand analysis
2.1 Demand characteristics
Demand for imitation jewelry and all of its subcategories is relatively elastic, as customers in this type of market are usually sensitive to changes in price, which, being lower than for fine jewelry, is one of the determinants of demand growth in the sector. In addition, this type of market is ...
2.2 Factors influencing demand
The demand of the jewelry industry, both precious and costume jewelry, was once strongly influenced by the search for a product that is unique, pure, and composed of rare materials. The ostentatious attitude is now supplanted by new and different needs. Purchases, today, are strongly influenced by the social interaction of ...
2.3 Geographical distribution of demand
To visualize the geographic distribution, a map was constructed with monthly household spending in the field of costume jewelry and jewelry. The northeast presents the highest figure, with *.* €/month, followed by the northwest, where spending is *.** €/month while, in the south, households spend an average of only *.** €/month on costume jewelry ...
2.4 Social Content
The analysis offered by Format Research, based on a sample of twenty-four cases who used social to purchase precious jewelry and costume jewelry, highlights aspects about this type of experience. The social content that most influenced and determined consumers' choice of product, regardless of whether they purchased it at the jewelry ...
3 Market structure
3.1 Market structure
Within the Italian jewelry industry, luxury and non-luxury, four categories of players can be distinguished: micro, small, medium and large enterprises. Further distribution is based on the two main stages of the supply chain, creating two classes: production and distribution. The vast majority of companies in Italy are small, characterized by ...
3.2 Competition and strategy
Historically, the Italian gold sector has developed following the typical dynamics of industrial districts. The term "industrial district," coined by Alfred Marshall in the second half of the **th century, identifies a socio-economic entity formed by a set of enterprises that are part of the same production system located within a ...
3.3 Distribution channels
The main distribution channels active in the jewelry and costume jewelry market in Italy are:
Traditional jewelry stores: traditional jewelry stores are identified with the figure of the jeweler and remain one of the most popular places to buy jewelry, watches and silverware. Within a jewelry store you can choose from ...
3.4 Main actors
LEO FRANCE - S.R.L.: Leo France makes both costume jewelry and accessories for clothing, bags and other leather goods, trying to transform the ideas proposed by the big fashion houses, into high quality items with excellent value for money. GIMET BRASS S.R.L.: Gimet Brass is a company ...
4 Supply analysis
4.1 The composition of the product offering
Costume jewelry often incorporates the following metals and materials:
Non-precious metals: brass, steel, zinc casting, tin casting, vermeil; Semi-precious metals: silver, gold- or silver-plated brass and other alloys; Non-metallic materials: leather, fabric, resins, ropes, natural wood, coconut shavings, dyed or engraved or cracked shells, etc; Non-precious or semiprecious stones, including crystals ...
4.2 Prices of major categories of jewelry and costume jewelry
it is evident that the market is mainly divided into two segments: high-end jewelry-precious jewelry-and costume jewelry. Between the two, we can identify an intermediate segment, called "Bridge Jewelry," which includes jewelry products made of silver and semi-precious materials.
Source: ****
Regarding the free on board (***) price should be calculated to ...
4.3 Trends in CPI and prices for the sector
The Harmonized Consumer Price Index category "Jewelry, watches, and clocks (***)" is a classification of durable goods that includes precious stones and metals and jewelry made from such stones and metals; costume jewelry, cufflinks and tie clips, clocks, watches, stopwatches, alarm clocks, travel clocks, and repair of such items
We can then ...
5 Rules and regulations
5.1 Market regulatory framework
The Consumer Code(***) harmonizes and reorganizes regulations on purchasing and consumption processes in order to ensure a high level of consumer and user protection in compliance with the Constitution and in accordance with the principles of European Union law.
Safety, composition and quality of products constitute the essential content of information ...
6 Positioning of actors
6.1 Segmentation
- CA&LOU
- Angela Caputi Giuggiù
- Swarovski Group
- Bijoux.it
- Donnapiuoutlet.it
- H & M Hennes & Mauritz AB jewelry
- Bershka
- Pandora
List of charts presented in this market study
- Dimensione del mercato della bigiotteria
- Value of production
- Value of turnover
- Import - Export costume jewelry
- Distribution of exports among the top 5 consumer countries
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