The outlook for the UK market for china and earthenware household items remains bleak. Many manufacturers are highly dependent on export markets and have suffered from the strength of sterling and the weakness of other economies, notably Japan. The strength of the pound compared to other currencies has not only affected exports, but has also resulted in a reduction in the number of tourists and a depression in tourist spending power.
Tourism is a significant market for luxury goods.
Another important factor is the continuing fall in the number of weddings. While an increase in the number of single-person households might mean some duplication, it is less likely to be at the premium end, which is largely supported by the bridal market. However, retail sales, particularly of tableware, are difficult to grow in terms of any significant volume and competition, and oversupply has not helped value growth. On a more positive note, there are some within the industry maintaining that the situation can only improve. Certainly, many companies have been forced to reassess their production procedures and undergo considerable restructuring.