2014-02-07 08:27:02 - Jewellery and Related Articles in Australia: ISIC 3691 - a new market research report on companiesandmarkets.com
The Australian jewellery and related articles market was valued at nearly A$1.8 billion in 2010. This market includes a variety of luxury goods, demand for which is considered to be highly income elastic and thus significantly depending on economic cycles.
Total sales grew at an average annual pace of 10% over 2000-2010. However, sales experienced several major peaks, growing by 32% over the previous year in 2004 and in 22% in 2007. These increases represent the years when the Australian economy peaked in growth, with consumers´ disposable income levels thus also seeing good growth.
However, in 2009 the sales declined by 5% over the previous year, in line with shrinking household income levels. There was only a small decline in the demand
during the global recession seen towards the end of the review period. This was chiefly due to high-income consumers, who remained impervious to the economic downturn and had more purchasing power in the deflationary environment of 2009.
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