The article predicts that the world’s global
The International Business of Gold and Jewelry Annotated BibliographyDe Marchi, Valentina et al. “Globalization, Recession And The Internationalization Of Industrial Districts: Experiences From The Italian Gold Jewellery Industry.
” European Planning Studies, vol 22, no. 4, 2013, pp. 866-884. Informa UK Limited, doi:10.
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1080/09654313.2013.771624.This article aims at explaining the global industry shocks, that is, the upsurge of global competitiveness in the early 2000s and the world economic recession that was experienced from 2008 to 2009. The global economic recession led to a profound decline in the world trade and production, which was an unprecedented phase of globalization.
To explain such situations, this article compares three Italian districts (Arezzo, Vicenza and Valenza Po), which are responsible for more than 70% of Italian jewelry exports making Italy the world’s major exporter of jewelry. This article will help understand how the distinct contribution of the three districts impact on their competitiveness and how the globalization crisis can affect the export performance of the jewelry industry. Moreover, the article will also give an insight on the entrance of other jewelry exporters from large economies in the global market, which had also led to a recession crisis in early 2008.Dauriz, Linda, Nathalie Remy, and Thomas Tochtermann. “A multifaceted future: The jewelry industry in 2020.” Retrieved on December 4 (2014): 2014.This article provides insight into publicly available data, interviews with top executives of fashion-jewelry companies and annual company reports based on the claim that the jewelry industry is growing at a breakneck pace within three decades. To support this claim, the article predicts that the world’s global sales of jewelry will increase by 5% to 6% every year, which will translate to a global sale of 250 billion euros by 2020.
Moreover, the factors that have contributed to the growth of the jewelry industry, are similar to an adjacent industry, that is fashion or apparel. Some of the elements include internationalization and consolidation, fast fashion, hybrid consumption and growth of branded products. With the information provided in this article, trends in the jewelry industry can be identified, and predictions can be determined for the future preparation of the various players in the industry.
Gold.Org, 2018, https://www.gold.org/download/file/5387/4_international_jewellery_trade.pdf.
The article focuses on India which is one of the largest exporters of gold jewelry in the world, with the United Arab Emirates being one of India’s largest export destination of jewelry. The article also gives statistical information on the jewelry exports and imports, adding that the industry has made a great contribution to employment, where more than 2.5 million people have been employed in the jewelry industry. Also, various stakeholders have been mentioned in the article, such as The Gems and Jewellery Export Promotion Council (GJEPC).
The GJEPC plays an important role in the local and international promotion of the industry and developing industry initiatives, which include training, and conducting research. This article provides vast knowledge on the factors that contribute to the growth the jewelry industry, ranging from innovation to marketing strategies, focusing on India as an exporter. Liu, Jingting. “Covered in Gold: Examining gold consumption by middle-class consumers in emerging markets.”International Business Review 25.3 (2016): 739-747.The author, Liu, gives some highlights in this article, based on the consumption of gold by individuals particularly those who belong to the middle-class economy.
The availability of gold and attractiveness is highly determined by the perception of the benefits and disposable income that comes with acquiring such valuable material. Moreover, Liu points out that, the consumption of gold is affected by economic, cultural and institutional aspects which vary from one country to another. Furthermore, in this case, a curvilinear correlation can be observed between two variables, that is gold consumption and disposable income.
Based on this theory, the author establishes that gold consumption decreases as the emerging markets grow and as the middle-class consumers become more sophisticated in their choice of consumption. Therefore, this article gives a guide on the perception of gold and jewelry among consumers and the motivating psychological factors that fuel gold consumption. More information on symbolic and utilitarian benefits will be relevant to understand consumer perception of gold.