Jewelry Industry Analysis
Industry Analysis____________________________________________________
___
• Lifecycle
In the Broad Industry of Jewelry, It is hard to pinpoint what stage of the lifecycle the industry is currently in. The Jewelry Industry is very old and started about 40,000 years ago with the Cro-Magnons, ancestors of Homo sapiens. It is important to note that till this day, this industry continues to grow. In Canada, jewelry sales rose by 4% in 2003. In 2006, Canadians consumers spent over 2 billion dollars on jewelry . The United States similarly experienced a rise in jewelry sales by 9% in 2005. Overall sales in the jewelry industry are expected to grow with the economy and sustain growth rates of 3-5% annually .
Due to the Industry's adaptability to fashion there is no actual maturity or decline phase. Jewelry and Fashion go hand-in-hand; a change in one usually causes a change in the other. Jewelry has existed for 40,000 years and has lived through many ancient cultures and societies......
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