Industry Analysis & Industry Trends
As household incomes rose and living standards improved, jewelry purchases have increased rapidly in China. For China's most popular jewelry category, gold jewelry, consumption volumes in China increased from 224.1 tons in 2004 to 985.9 tons in 2015, representing annualized growth of 14.4% for that period. In the five years through 2016, total revenue for the Jewelry Store industry in China has been growing at an annualized rate of 8.9% to $96.5 billion. China has become the largest consumer of gemstone, jade, platinum and gold jewelry in the world, and the second-largest consumer of diamond jewelry after the United States.
Jewelry price levels fluctuated greatly in recent years due to strong dollar trend and decreasing demand of luxury goods.... purchase to read more
Industry Report - Industry Locations Chapter
The geographic distribution of jewelry retailing is largely determined by income levels, demographic structure and consumer behaviors. Jewelry sales in China are mainly based in large cities and provinces with strong economic strength. The top five jewelry retailing regions, Beijing, Shanghai, Guangdong province, Jiangsu province and Zhejiang province, jointly account for about half of China's jewelry sales in 2016.
Beijing is the largest jewelry market in China, and jewelry sales were greatly promoted by the 2008 Beijing Olympic Games and increasing population. As the purchasing power of Beijing consumers grows, sales of large and expensive diamond jewelry are expected to rise rapidly in the future... purchase to read more