Polish Jewelry MarketFigures from Okręgowy Urząd Probierczy (OUP) show that, in 2013, gold consumption in Poland reached 4 tones and silver consumption reached 21,5 tones. In the long run, driven by continued increase in upscale consumption, and number of marriages, there is still a definite growth potential in Polnad’s consumer market for gold and silver jewellery.
Poles spend their money to buy jewelry which they regard not only as beautiful and valuable items or capital investment, but also as an investment in the contemporary art. More recently, the jewelry market has been undergoing significant changes which prove that jewelry showroom customers have considerable interest in purchasing costly luxury items.
The Polish market for gold jewellery has gradually shifted away from mass market gold sales but enjoyed a renaissance at the high end with the growth of designer gold jewellery brands, particularly in white gold. It should be noted that weddings are a key driver of Poland demand for gold jewellery today. In 2013 the Polish market for engagement rings and wedding bands is more than 2 billion PLN. On average, couples spend between 800 and 2,000 PLN on the wedding rings, and there is a growing trend towards more premium, customized products. Couples spend between 2,000 and 3,300 PLN on an engagement ring. Gold’s malleability makes it very workable, making it easy to resize and personalize with engravings and there are few better ways of making an eternal statement of love than inscribing a message in gold. The range of colors that gold is now produced in means that consumers also have mor [...]
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