DW SEPTEMBER - OCTOBER 2019

Cover story
Indians comprise of about
1.4 million people in the
United Kingdom making
them the single largest visible
ethnic minority population in
the country. British Pakistanis
are number two with a
population of 1.17 million.
With a population of half a
million, Bangladeshis are also
not too far behind. There are
close to 700 jewellers in the
UK and London alone has
150 jewellers of Asian origin
that cater to the needs of the
Asian population. Asians
the world over are known for
their entrepreneurial skills
and business acumen and
Anil Prabhakar during his
recent visit to the UK, studied
the Asian diaspora within the
jewellery community
per cent of UK’s retail sales are contributed by independents
and the jewellery sector is no different. It
is dominated by independent family run businesses.
While there are some large multiple chains, such as
H Samuel, Ernest Jones, Beaverbrooks, Fraser Hart,
Goldsmiths and F Hinds, which have a presence in
many shopping centres and larger town centres, the
family jeweller is commonplace and remains one of
the last bastions of true independent retailing to be
found on Britain’s high streets.
Consumer preference for buying fine
jewellery in the UK
• 29 per cent of the consumers prefer to
buy jewellery from chain stores such as H
Samuels. Their preferred destination for
fashion jewellery is Argos chain store with a
store count of over 883 doors.
• 22 per cent from Independents.
• 12 per cent from premium store chains
& departmental stores such as Harrods,
Harvey Nichols & Selfridges.
E commerce: According to Euromonitor International,
the UK is at the forefront of digital retailing
among Western markets. Relative to countries
such as the US, France and Germany, the UK sees
e-commerce capture a greater share of sales. Mobile
commerce accounts for a larger proportion of
e-commerce. Services such as click-and-collect are
more developed in the UK.
Online sale as per cent of total retail sale in
UK is 20 per cent and is the highest in the
world. France is 17.4 per cent & U.S. is 16.4
per cent.
UK jewellery sales via the online channel continue
to be driven by demi-fine and costume jewellery
brands rather than fine jewellery players due to the
enduring perceived risk associated with purchasing
big-ticket items online. The vast majority of UK
jewellery sales still take place offline, with jewellery
and watch specialists alone accounting for two
thirds of all fine jewellery value sales and a third
of costume jewellery value sales (Source: Euromonitor).
Bangladeshi women are decision makers when
it comes to buying jewellery. Self-purchase is
common among Bangladeshi Muslim Women
who have high disposable income as they
get Meher or mandatory payment from their
husbands when they get married
Vikram Santilal, Jeram Jewellers
DiamonD WorlD september-october 2019 55