Global and China Jewelry Industry Report, 2020-2026

In 2019, the global jewelry market edged down 1. 4% from a year ago to $363 billion in comparison with Chinese jewelry market worth RMB750. 3 billion with an annualized spike of 7. 7%. Entering 2020, the world is worst hit by the devastating COVID-19 pandemic, so is the world’s jewelry market that will plunge to $327 billion and China’s down to RMB603.

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New York, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global and China Jewelry Industry Report, 2020-2026" - https://www.reportlinker.com/p03180746/?utm_source=GNW
7 billion as expected in 2020.

Unlike diamond preference in Europe and Americas, Chinese consumers have a fever about gold jewelry, which is well interpreted in jewelry sales structure in China in 2018 when gold seized about 47%, K-gold and diamond sharing 20% or so, and jades roughly 19%.

In China, the jewelry market is ruled by world-renowned brands, Hong Kong brands and Chinese mainland brands. Foreign big names target the high-end diamond jewelry market and the high net worth individuals in the first- and second-line cities, while Hong Kong brands and Chinese Mainland ones are scrambling for more shares in the mercilessly fierce medium- and high-end markets.

Comparably, Hong Kong and Chinese Mainland brands enjoy more popularity and more market shares in China. In 2019, 35 jewelry companies listed in China made the revenue of RMB203.398 billion together with a year-on-year decrease of 3.26%. Among them, Chow Tai Fook held 8.1% share and Lao Feng Xiang 6.6%, leading the pack in the Chinese jewelry industry.

As per store numbers as of December 31, 2019, Chow Tai Seng was the champion with 4,011 outlets, followed by Lao Feng Xiang 3,893 ones.

Still remaining the main marketplace of jewelry & ornaments in China, brick-and-mortar stores’ sales in 2019 takes a lion’s share up to a staggering 92.8%, but they are being seriously challenged by online retailing which is quite popular among millennials, the leading consumers of jewelry.

In 2019, online jewelry sales grew at a rate of 26% in China, 18.3 percentage points higher than the industry average, and online jewelry sales achieved RMB54.18 billion as a percentage of 7.2% in the total. In the future, online sales + offline deals will play the key role.
Read the full report: https://www.reportlinker.com/p03180746/?utm_source=GNW

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