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 SWOT Analysis Chapter
Due to increasing household income levels in China, industry value added is expected to increase 8.8% per year on average over the 10 years through 2021, much faster than that of China's overall GDP (about 6.5% per year) during the same period. allowing temporary slower growth in 2014, the jewelry retailing industry is expected to enter another round of strong growth.
China has become the largest consumer of gemstones, jade, platinum and gold jewelry in the world, and the second-largest consumer of diamond jewelry (after the United States). However, per-capita jewelry ownership and consumption in China is significantly lower than global averages. In particular, the rural jewelry market has strong growth potential in the future with increasing incomes and higher consumption levels.
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