Market Report, "Jewellery in Singapore", published

Jewellery in Singapore is set to increase in current value by 5% in 2013, rising to S$3.1 billion. Jewellery is increasingly seen as an important fashion item which is essential to match with an outfit. With the wide knowledge of fashion trends among Singaporean consumers, which continues to change with every season, consumer purchasing decisions are being strongly impacted. Being highly fashion and brand conscious, Singaporean consumers are increasingly likely to purchase jewellery which can match their outfits, while they are also likely to continue following constantly changing fashion trends so as to meet their main objective of looking good. In addition, many consumers in Singapore are expected to trade up to premium jewellery as they are becoming increasingly brand conscious in general. As such, luxury goods brands are slowly gaining popularity in jewellery and this is helping them to generate a stronger overall presence in Singapore.

Full Report Details at
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Competitive Landscape

Aspial-Lee Hwa Jewellery Singapore Pte Ltd ranked first overall in jewellery in Singapore during 2013 with a value share of 4%. Aspial-Lee Hwa has a strong top-of-mind position among the majority of Singaporean consumers as the company has offered a wide range of jewellery brands and products for many years. The company’s product portfolio spans a very wide price range and its products are widely available throughout Singapore. Consumers in Singapore, especially local consumers, often feel that Aspial-lee Hwa’s designs cater to their specific tastes and desires. In order to capture the interest of more Singaporean consumers, Lee Hwa launches various different collections for different occasions such as Mother’s Day, Christmas and Valentine’s Day.

Industry Prospects

Jewellery in Singapore is expected to increase in value at a CAGR of 4% in constant 2014 terms over the forecast period. Jewellery is set to continue being seen as a category of essential fashion items among the majority of Singaporean consumers throughout the forecast period. High levels of fashion consciousness and brand awareness are set to remain in effect in Singapore and this is almost certain to have a strong influence on the purchasing decisions of many Singaporean consumers during the forecast period. The trend of trading up to more expensive options is expected to bolster growth in demand for real jewellery among Singaporean consumers as they are expected to have higher levels of disposable income.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Jewellery industry in Singapore with research from Euromonitor's team of in-country analysts.

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