Jewellery pipeline mapping & econometrics
In-depth research and analysis from an expert team
SFA (Oxford) has mapped jewellery pipelines, examined costs and margins, quantified future demand levels, and analysed the competitor landscape of fabricators, wholesalers, and retailers for future investment decision-making.
Using on-the-ground research to assess jewellery purchasing stability
SFA has undertaken a number of important studies on the platinum jewellery market. These studies encompassed all of the main jewellery demand regions, including India, along with a major focus on China. Jewellery offers diversity of PGM demand and a gateway to new markets. The success of jewellery sales tends to be driven by a combination of factors including population growth, cultural and traditional influences, and marketing and distribution activities. Our long track record at the heart of the jewellery industry has given us a clear understanding of the cyclical aspects of the market and the initiatives taken to create and build demand.
We have developed a robust predictive model of platinum jewellery demand and price, and consumer expenditure elasticities. On an ongoing basis, we monitor the jewellery market, companies and exchanges, metal trade flows, metal demand by region, and recycling. Our team also collects data to measure quarterly changes to platinum purchasing by jewellery manufacturers (turnover and stocks), as well as recycling and retail sales, thus providing an accurate, independent measure of the success of platinum jewellery by country. Quarterly monitoring also provides new insight into the impact of retailers stocking ahead of auspicious occasions, as well as the demand peaks from seasonal buying.
Key to our success has been our relationships with leading manufacturers, recyclers, wholesalers, refiners, and promoters of jewellery to gain a comprehensive understanding of the full value chain. Members of our team also visit jewellery stores around the world to gather insight into store footfall, the size of metal display space relative to the competition, jewellery design (distinction), material zoning (and positioning), staff training and their understanding of platinum or palladium jewellery relative to other jewellery.
On behalf of industry stakeholders, the team of analysts also conducts a major annual jewellery research report, with quarterly updates, to contextualise jewellery within the broader PGM supply and demand trends.
Predictive jewellery modelling — commissioned by a major PGM producer
In collaboration with PGI, a PGM jewellery demand study of jewellery elasticity to metal prices
SFA (Oxford) developed a robust, predictive model of platinum and palladium jewellery demand and price elasticities, and informed the company’s future marketing activity with detailed forecasts of platinum and palladium demand and their sensitivities.
A year-long study on the Chinese jewellery market
A full regional appraisal of platinum jewellery, including the value chain, players, metal movements, and influences on demand
A multi-faceted econometric model was developed to quantify platinum jewellery demand evolution now and in the future. The study involved on the ground interviews with jewellery industry players (fabricators, wholesalers and retailers). Demographic influences were also accounted for to ultimately plot platinum demand scenarios for tomorrow.
Jewellery marketing investment appraisal
Global investment appraisal
The SFA (Oxford) team provided insight on metal price demand elasticity, so as to illustrate the dynamics that impact manufacturers and retailers’ decisions regarding their platinum business.
The report highlighted the margins that apply in the jewellery pipeline from mine to the customer (retailer) to identify levels of marketing investment that can be achieved (net profit, net profit margin, and gross profit margin).
The pipeline was mapped by market, outlining the flow of platinum from importers and refiners through to consumers.
Trends in PGM jewellery and consumer demand — commissioned by a major PGM fabricator
Long-term supply outlook for the retail PGM sector
SFA (Oxford) undertook a detailed commentary and analysis on demand for platinum and palladium for the manufacture of jewellery, as well as an analysis of large and small bars and noble coins.
Let's discuss your jewellery project
Contact one of our team for more details.
Other PGM consulting solutions
Explore other services our clients use regularly.
Macroeconomics and precious metals
For many years, SFA's extensive expertise in analysing the changing dynamics of global economies, financial markets and precious metals has enabled us to deliver bespoke research to enhance your next strategy.
Automotive powertrains and PGM demand
SFA delivers detailed insights into the effects of new automotive technologies on PGM demand for light-duty, heavy-duty, off-road and fuel cell vehicles to meet government emission targets.
The future of cities and mobility solutions
SFA has advised mobility companies with their strategies, providing global or local industry context, benchmarking competitors, creating industry scenarios and identifying new opportunities.
PGM purchasing and new customer targets
SFA has explored the purchasing dynamics between market participants, the complexity of the associated price web factors for platinum, palladium and rhodium, providing definitive answers to commercial questions.
Emerging technologies – opportunities and threats
SFA is constantly monitoring the evolution of emerging technologies and threats to new metal substitution. Let us cut through the noise, and highlight the short to long-term price risk impacts for your business.
PGM catalyst and chemicals market intelligence
SFA is equipped to provide detailed regional insights of the major players, market shares, demand volumes, and market value for automotive, chemical and petrochemical catalysts, and smaller industrial markets.
Long-term PGM recycling value chain assessments
SFA's discreet work with recyclers gives us unique market insights, for the major regions of the USA, Europe, China and Japan. We also closely monitor jewellery recycling, electronic scrap and spent catalysts.
PGM trade flows and stock reconciliation
SFA analyses the physical movements of PGMs for demand-side and supply-side participants, how futures contracts are priced and traded, and quantifies above-ground PGM stocks from key sectors.
Closed and open-loop PGM market evaluation
SFA can provide you with the most insightful 360-degree research covering the secret closed-loop market sectors by quantifying installed capacities, system losses and top-up requirements by company and sector.
Formulating regional trading desk strategies
SFA has significant experience mapping regional and localised end-use markets for PGMs to assist clients in discovering new trading opportunities and client targets by volume and sector.
Augmented mine business planning and risk analysis
SFA has significant experience in reviewing mine business plans, identifying production risks and reviewing costs down to a half-level basis.
Due diligence studies and PGM commercial advisory
Working with clients and third parties, SFA has a long track record of providing technical due diligence and financial modelling support to help secure funding.
PGM mergers, acquisitions, and corporate defence
Clients have used SFA to provide the analytical link with banks and financial institutions to support PGM investment decision-making and provide market support.
IPO market chapters and PGM feasibility studies
SFA has supported numerous client listings by providing an independent view of the PGM markets to help secure capital from potential investors.
Peer-group benchmarking and margin analysis
Our PGM peer-group benchmarking is unrivalled, providing you with a detailed understanding of which assets are outperforming and which are most at risk.
Mine optimisation and cost benchmarking
SFA realises cost synergies for PGM clients across company operations to help raise margins and improve production efficiency benchmarks.
Covid-19 PGM market analysis and scenarios
With extensive experience covering the PGM markets and industry fundamentals, SFA can provide you with our latest market outlook and the window of scenarios.
Human capital and organisational planning
The SFA team has completed many labour workforce projects, analysing demographic trends, forecasting future labour requirements across mining operations.
PGM strategy, planning and Board support
SFA is a trusted advisor to Board members and senior management of significant stakeholders and provides regular assistance to strategy and planning efforts.
PGM price forecasting and project incentive pricing
SFA can provide accurate short-, medium- and long-term PGM price forecasts to support your business plans and contract negotiations.
PGM markets and supply risk dashboards
SFA provides regular data flows of mine supply and metallurgical pipelines, basket prices, mine economics, and PGM demand to assist strategic decision-making.
Metallurgical processing and commercial options
SFA has extensive experience in assessing clients' advanced mineral processing offtake options and evaluating indicative commercial terms.
'Black-box' PGM and macro scenario modelling
Clients approach SFA to run their own supply and macro modelling demand inputs to see the impact this has on the medium- to long-term PGM market balances.
PGM investor Board packs and roadshows
SFA supports its clients on global roadshows to assist on capital raisings and converse with fund managers, institutional investors and family wealth officers.
Black swan events and PGM market impacts
The SFA team is constantly providing rich insights for its clients on structural events moving the PGM markets, particularly when the situation continues to change.
Corporate ESG strategy and PGM stewardship
SFA works closely with value chain players to understand how materially significant ESG issues can be integrated into their wider company strategy.
Peer-group ESG benchmarking for PGMs
SFA's benchmarking of PGM producers on material ESG factors generates high-resolution insights for sustainability-conscious investors.
Cradle-to-grave ESG recycling studies
SFA's analysis of environmental footprints from recycled material in terms of greenhouse gases, waste generation and processing is helping secure new investments.
How can we help you?
SFA (Oxford) provides bespoke, independent intelligence on the strategic metal markets, specifically tailored to your needs. To find out more about what we can offer you, please contact us.