Analytical assessment of the jewellery market in Ukraine

Economic Annals-ХХI: Volume 176, Issue 3-4, Pages: 65-79

Citation information:
Voloshyna, S., Provolotska, O. Lazaryshyna, I., Nieizviestna, O., & Skliar, N. (2019). Analytical assessment of the jewellery market in Ukraine. Economic Annals-XXI, 176(3-4), 65-79. doi: https://doi.org/10.21003/ea.V176-07

Svitlana Voloshyna
PhD (Economics),
Associate Professor,
Head of the Department of Entrepreneurship and Trade,
Donetsk Mykhailo Tugan-Baranovsky National University of Economics and Trade
16 Tramvayna Str., Krivyi Rih, 50005, Ukraine
voloshyna@donnuet.edu.ua
ORCID ID: https://orcid.org/0000-0001-7148-6923

Olena Provolotska
PhD (Economics),
Associate Professor,
Associate Department of Economics and Entrepreneurship,
Kryvyi Rih Economic Institute of Kyiv Vadym Hetman National Economic University
64 Poshtovyi Ave., Krivyi Rih, 50000, Ukraine
helennpro@gmail.com
ORCID ID: https://orcid.org/0000-0003-3472-7649

Inna Lazaryshyna
D.Sc. (Economics),
Head of the Department of Statistics and Economic Analysis,
National University of Life and Environmental Sciences of Ukraine
11 Heroiv Oborony Str., Kyiv, 03041, Ukraine
in2003@ukr.net
ORCID ID: https://orcid.org/0000-0002-1183-7530

Olena Nieizviestna
PhD (Economics),
Associate Professor,
Acting Director,
Educational and Scientific Institute of Economics and Entrepreneurship,
Donetsk Mykhailo Tugan-Baranovsky National University of Economics and Trade
16 Tramvayna Str., Krivyi Rih, 50005, Ukraine
nieizviestna@donnuet.edu.ua
ORCID ID: https://orcid.org/0000-0002-6135-6524

Nadiia Skliar
PhD (Economics),
Associate Professor,
Department of Enterprise and Trade,
Donetsk Mykhailo Tuhan-Baranovsky National University of Economics and Trade
16 Tramvayna Str., Krivyi Rih, 50005, Ukraine
sklyar@donnuet.edu.ua
ORCID ID: https://orcid.org/0000-0001-9122-340X

Analytical assessment of the jewellery market in Ukraine

Abstract. The article proposes scientific and practical recommendations aimed at deepening the analysis of the jewellery market in Ukraine and establishing its actual characteristics and tasks for perspective development.It is determined that improvement of life quality in Ukraine, based on satisfying cultural and spiritual needs, demands ways to saturate the Ukrainian consumer market with valuable and highly artistic products. However, the development of effective managerial decisions by all the jewellery market subjects is slowed down due to the lack of knowledge on the cause-effect relationships among its parameters, which results from the existing gaps in the scientific system. It has been established that there are no common approaches to the analysis of the jewellery market in modern scientific literature. Moreover, there is a number of contradictions, such as inconsistency and instability of its implementation timing, limited range of parameters, lack of effectiveness and completeness, which significantly reduce the effectiveness of the analysis. The methods for analysing the jewellery market with the detailed definition of tasks for each stage are upgraded on the basis of the systematic approach to economic analysis. The current stage of the development of the jewellery market is generally characterised by a significant reduction in the number of participants involved in the production and distribution of goods, the existence of negative trends in declining volumes of production by domestic producers and volumes of retail trade turnover, the growth of prices for finished products and raw materials (primarily gold), low volumes of imports and exports, and, hence, the formation of a negative trade surplus. The factor analysis of the main market elements by key parameters enabled us to set the levers for further positive changes. Finally, the key tasks for the development of the Ukrainian jewellery market, which correlate with the systemic problems of its functioning, are approved.

Keywords: Jewellery Market; Jewellery Production; Jewellery Retail; Gold Price; Jewellery Price; Ukrainian Jewellery Market; Analysis Methods; Key Tasks; Needs; Trends

JEL Classification: D40; D41; L19

Acknowledgements and Funding: The authors received no direct funding for this research.

Contribution: The authors contributed equally to this work.

DOI: https://doi.org/10.21003/ea.V176-07

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Received 24.03.2019
Received in revised form 28.04.2019
Accepted 11.05.2019
Available online 20.08.2019