Wednesday, 23 June 2021
The sample survey prepared for Federorafi by the Confindustria Moda Study Center highlights the signs of a restart of the gold and jewellery market.
In the first quarter of the current year, 24% of the sample companies have an increase in turnover compared to the levels of the first quarter of 2020. “Among these – Federorafi specifies – 10% grows over 20%; a 5% experiences an increase between 10% and 20% and another 5% between 5% and 10%. 22% of the sample, on the other hand, shows sales unchanged compared to the first three months of 2020 ”. Despite this, the share of the sample still affected by turnover contractions remains prevalent, but to the extent of 54%, a sharp decline compared to 89% recorded the previous year.
With regard to foreign markets, about half of the sample (48%) also reports a greater reactivity of some strategic partner countries that are proving to be more dynamic already from the first months of 2021. Specifically, the United States, France, United Arab Emirates and Qatar.
As for raw materials, there are price increases. “As known, moreover, the prices not only of gold but also of other precious metals shown intense increases for a large part of 2020. The sample companies indeed explicitly cite gold, rhodium, palladium and silver, as the main raw materials increase “.
On the other hand, with respect to the strategies on which the various players are aiming to respond to the market challenges, the “development of the online channel” is mentioned at first, followed by the “rationalization of costs” and the “search for new markets”.
Other data concern the second quarter of 2021. 45% of the companies in the sample expect a growth in turnover compared to the same period of 2020, 28% expect stability on the levels of April-June 2020, while 27% fear a flexion.
In general, the future of the sector promises to be markedly improved. Specifically “by investigating the sentiment of companies about the evolution of the economic situation, a good 25% place a start of recovery as early as the spring of 2021 while 59% place the start of their recovery between autumn 2021 and spring 2022”.