China Will Become The Largest Jewelry Consumer In The World.

HC R. CHC

Research in Beijing, Shanghai and Guangzhou in 2012 shows that jewelry consumption accounts for about 5% of the luxury consumption of China's high-end people. With the continuous and rapid development of China's jewelry market, jewelry consumption of high-end Chinese consumers will further improve in the future.

In the first tier cities in 2011, the average consumption of high-end jewellery reached 24065 yuan.

From the purchase price, the average price per unit price is 17352 yuan, of which the average purchase price of overseas brands is relatively high, reaching 21654 yuan, and the average purchase price of local brands is 11985 yuan.

"Decorate yourself, highlight taste" and "reward yourself" are the main buying motives of high-end consumers in the first tier cities.

On the whole, among the high-end consumers in the first tier cities, "decorate themselves, highlight taste" and "reward yourself" are the main buying motives for consumers to buy jewelry.

In Beijing, jewelry purchase accounts for the highest proportion due to "engagement, marriage or other important moments", while in Shanghai and Guangzhou, the proportion of practical purposes such as decorating and rewarding oneself is higher. It is worth noting that in Guangzhou, the purchase of jewelry for the purpose of giving relatives and friends is much higher than that of Beijing and Shanghai.

Zhou Dafu occupies a leading position in the first tier cities.

HC R Zhou Dafu research shows that among the jewelry brands of several major listed companies, Zhou Dafu ranked first in the market recognition rate of 87.1%, followed by Zhou Shengsheng, with a cognitive rate of 80.6%.

The consumer's cognition of the brand presents obvious regional characteristics, such as the market recognition rate of Guangzhou brand such as Liu Fu, Jin Zhi Chun, etc., is much higher than that in Beijing and Shanghai, while Xie Ruilin's cognition rate in Shanghai and Guangzhou is much higher than that in Beijing market.

In terms of ownership, among the high-end consumers in the first tier cities, Zhou Dafu owns the highest brand jewelry rate, reaching 44.8%, followed by Zhou Shengsheng, reaching 32.2%.

Xie Ruilin, Liu Fu, Jin Zhi Chun and other Hong Kong brand have a high rate of ownership among Guangzhou consumers.

In the next half year, China's top tier consumers in high-end jewelry preview plan, in several major brands, Zhou Dafu ranked first in 11.7% of the pre purchase rate, followed by Zhou Shengsheng, the pre purchase rate of 9.3%.

Because Zhou Dafu and Zhou Shengsheng have a higher awareness and ownership rate in high-end consumers in China's first tier cities, their market recommendation rates are also in the forefront. 25% of consumers said they would recommend Zhou Dafu when they recommended their jewelry to friends and family members, and Zhou Shengsheng recommended 17.2% of their brands.

Why is the Chinese market pursuing jewelry?

According to the analysis of luxury consumption patterns abroad, luxury goods include castles, private yachts, and artworks.