Internationalisation Models and Trajectories of Gold Jewellery in Johannesburg: A Conjectural Discursive Approach

Abstract

The gold jewellery industry is a lucrative sector. It operates within global consumer international networks. The underpinning models of internationalisation of gold jewellery from a theoretical standpoint, are key in comprehending export competitiveness potential. This means that for any company and country to achieve success, they ought to have competitive dominance in the export market, driven by a particular model. This study established that the main trends that characterise gold jewellery exports are underpinned by an aggressive internalisation thrust, which should be supported by market consolidation; market growth; a new channel landscape to push through the products; market consumption trends, absorption capacity, and global fast-fashion demand of gold jewellery. It emerged in this study, that the gold jewellery sector in Johannesburg has many dynamics that affect the ability of gold jewellery exporters to be competitive on the international market. There is a need to implement internationalisation strategies that include the creation of market linkages, standardisation and adaptation of products and services to the changing global market environment. The objective of this study was to investigate the efficacy of the internationalisation models, adopted by jewellery exporters in Johannesburg. The study used both theoretical and empirical data, obtained from the sector. The key finding from the study is that gold jewellery remains one of the most important export commodities in growing economies, such as South Africa. Exports bring the much-needed foreign currency, yet the sector in Johannesburg has very few corporates and individually owned businesses that are connected to the international markets to optimally exploit the opportunities in this sector. Using the mixed review methodology and empirical field data, the study offers propositions to enhance export competitiveness for companies, operating in developing countries.