Taken as an indication of wider industry trends, the survey suggests the jewellery industry is an ageing one.
On those surveyed, 64 per cent were over the age of 45, 25 per cent were between the ages of 35 and 45 while only 10 per cent were between the ages of 26 and 35. There were no retailers or manufacturers below the age of 25.
JAA chief executive Ian Hadassin was astounded by results of the survey showing a lack of younger people being attracted to the industry. “I am extremely worried. If there is no injection of young people, the industry will get older and the passion and motivation will be lost,” he said.
“We won’t keep up with the trends so there needs to be an infusion of young blood to always keep the industry vital, alive and ever-changing.”
Retailers comprised 69 per cent of respondents, while 28 per cent were wholesalers or manufacturers and 3 per cent were service providers.
Hadassin said the high barrier to entry in the retail industry is a stumbling block for young people.
“Cost of entry is very high as it is at least $500,000 in stock and few 25-year-olds can afford that. The turnover of stock is also very slow so you can’t rely on trade finance,” he said.
While a lot of young people are working in retail stores, few of them are taking over the reins of the businesses.
Hadassin attributed the trend to a surge in large retailers and said the resulting intense competition is one reason why traditional family-operated businesses are not performing well.
“Back in the day, the jewellery industry was highly profitable and jobs within in were highly sought after. Now, children are only willing to stay in the successful businesses and understandably so.”
He said the manufacturing and designing industry looked more promising and pointed out that the winners of this year’s JAA Design Awards in September were mostly young designers.
“The manufacturing industry has been decimated by overseas imports. You can’t compete with high volume imports but I think the future lies in one-off pieces that are skillfully designed and high-quality manufactured products,” said Hadassin.
To combat the lack of youngsters in both the retailing and manufacturing industries, Hadassin said the JAA was looking to approach TAFEs to run two-year, full-time jeweller courses instead of part-time courses, where a standardised system of learning was implemented.
The current apprenticeship systems are not providing effective training for young people, according to Hadassin. He said certain jewellers are taking advantage of the situation to exploit young people and keep them behind the register instead of at the bench.
Hadassin said the world’s increased rate of change and proliferation of the internet meant the industry needed young people – now more so than ever.
More reading:
Tasmanian designer wins top jewellery awardHistoric win for jeweller