Editor’s Note
This summary outlines key findings from Platinum Guild International’s 2020 review, focusing on supply chain management and recovery drivers for the jewelry industry.
The Platinum Guild International (PGI) 2020 Platinum Jewelry Annual Business Review highlights how the drivers of jewelry business development in 2019 will accelerate and lead the industry’s recovery in 2020. It involves monitoring and managing methods at every stage of the entire jewelry supply chain, creating a closed-loop control system to address entrepreneurs’ concerns.
The sudden outbreak in 2020 disrupted the market economic order, impacted the real economy, and led to the rapid rise of online live streaming. The jewelry industry rapidly digitalized during this period. Under the impact, the industry downsized its physical presence and continuously reflected on the pandemic’s influence.
One risk is the jewelry industry’s vulnerability to broader environmental factors, such as fluctuations in jewelry prices. For instance, recent gold prices have had a certain impact on gold jewelry prices. Another risk is the “brick-and-mortar” risk associated with physical stores.
In 2020, the outbreak brought a huge shock to the global economy, and the jadeite jewelry industry was also deeply affected. Through in-depth analysis of the industry situation, we are confident about the prospects for post-pandemic industry recovery and development.
It can be said that in 2021, due to the impact of the pandemic, while pressuring the supply chain in multiple aspects, it eliminated many previously uncompetitive participants who lacked value-adding capabilities for the industry. This is evident from both data and market sentiment perspectives.
Analysis of the current development status and characteristics of the jewelry retail industry. The impact on jewelry retail: The period around the Spring Festival is traditionally the peak sales season for gold and jewelry companies. However, this year, affected by the pandemic, the performance of gold and jewelry companies suffered a blow.
The ongoing novel coronavirus outbreak continues to develop and has been confirmed by the World Health Organization (WHO) as a Public Health Emergency of International Concern (PHEIC), affecting the globe. This pandemic, compared to the 2003 SARS outbreak…
Analysis of Gemstone Supply Chain Disruption.