Analytical assessments of jewellery market in Ukraine

Voloshyna, Svitlana and Волошина, Світлана Василівна and Provolotska, Olena and Проволоцька, Олена Миколаївна and Lazaryshyna, Inna and Лазаришина, Інна Дмитрівна and Nieizviestna, Оlena and Нєізвєстна, Олена Володимирівна and Skliar, Nadiia and Скляр, Надія Михайлівна (2019) Analytical assessments of jewellery market in Ukraine. Economic Annals-XXI, 176 (3-4). pp. 65-79. ISSN 1728-6220

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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.

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