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Jewellery retailers face 3% turnover loss

15
Sep '08
In the first six months of 2008, jewellery retail shops faced a turnover loss of nearly 3 percent. Turnover growth had already fallen gradually for nearly two years.

One of the reasons for the downturn are surging gold and silver prices. In the first half of 2006, jewellery shops still realised a growth rate of more than 20 percent, but subsequently the volume of sales began to drop.

Yet, jewellery retailers realised a turnover growth over the year 2007, because price increases exceeded the decline in volume.

In the first half of 2008, the decline in volume was no longer set off by price rises. As a result, jewellery retail turnover dropped for the first time since the third quarter of 2005.

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