Executive Summary
Sales of china and earthenware were estimated to be worth £1.23bn in
1997, an increase of 5.1% on the 1996 figure. Within the market, tableware
accounts for an estimated 52% of the value, with the other categories of
ovenware and kitchenware and of ornamentalware, respectively, accounting for
the remaining 18% and 30%.
`The general buoyancy in consumer demand', according to the Chairman of The
Denby Group, `does not appear to be benefiting the tableware sector'.
Furthermore, this general buoyancy, evident in the first half of 1997, seems
shorter-lived than anticipated in all aspects of consumer sales, with a British
Retail Consortium (BRC) survey in December 1997 suggesting that sales in
November may have fallen by as much as 2.5%, having steadily declined since
July.
With sales of china and earthenware products traditionally peaking before
Christmas, during the January sales, and in the third quarter of the year when
50% of weddings take place, this is a disappointing development, following on,
as it does, from a previously encouraging growth rate.
Luxury goods retailers have seen trade hit hard by the strong pound, which is
discouraging tourists; the Far East crisis, which is affecting sales of luxury
goods; and the cumulative effect of five interest-rate rises in 1997. The
export market is of vital importance to many china manufacturers and one in
which many concentrated their efforts in times of domestic stagnation. The
strength of sterling is, to them, a very real problem.
The UK is also a major importer of china and earthenware. The increased buying
power of the pound, along with a growing preference for mid-price products
rather than traditional English fine bone china, is likely to result in a
further diminution of the UK's trade surplus.
The editor of the trade magazine Tableware International confirms the
change in the market for tableware, saying that:
"Although high-end china, porcelain and crystal is to some extent sustained by
the bridal market, the largest growth is in casual dining in all its forms,
along with mid-price giftware, both in the UK and wider afield in Europe."
Fifteenth Edition 1998
Edited by Louis Barfe
ISBN 1-85765-790-X
|
If you are interested in further information about the full Keynote report, including price and how to buy, please complete the following form. You will be contacted by Keynote who will provide you with the information you require.
Denotes a required field.
