Jewelry sales In China
New emerging markets in china will continue to open door for western Jewelry
Already Chinese are the top Purchases for brand name jewelry and watches..
These luxury brands include cartier,Bulgari,Piaget,dior,Chanel,Tiffany,Adler,Van Cleef & Arplels,Mikimoto,Montblanc, Bvlgari,Piaget,Chaumnet.
Jewelry sales have jumped from approx 20 Rmbbn in 2004 to 113 Rmbbn in 2010
Many Chinese purchase jewelry form Hong Kong as items can be up to 30% cheaper than mainland china.
The swiss watch industry is worth us$14.9 billion and China is ranked as the fourth biggest buyer of swiss watchesup form 10th palce in 2006.
Chinese buyers like unique mechanical watches and 48% survey think of Rolex when asked what is the worlds best watch.
To buy a Patek Phillip watch the buyer has to fill out an application just to enquire and purchase can take over years to receive.
For jewelry items the Chinese prefer rings with over 50% of sales for Ring
Earrings are 23% of sales and pendants are 10% of sales
Interesting retail sales are 99/5% of sales as online sales have been difficult in china to date.
Chinese buy gold for intrinsic value and symbol of wealth and prosperity.
Around 60% of gold is use din gold jewelry and rose gold is becoming very fashionable but large many now consider gold as an investment.
Jade has and always will be the most popular gemstone but sale sin quality diamonds will increase also so that by 2016 approx 16% of diamond sales will be in china
Some online jewelry sellers operate on a cash on deliver basis and will have jewelry item delivered and cash paid when buyer is satisfied
Many Chinese retailers are expanding with reports privately held Chow Tai Fook will open over thousand new stores doubling their retail outlets
In correctly stamped gold or silver jewelry has always been problem in china.
Estimates in India state that up to 80% of stamps are legally incorrect and not to western standards.
No figures are available for china be we estimate it could be high and that is one reason why Chinese like western goods
Australia has a super high standard for jewelry stamping
Even our Perth mint coins are re cognized as amongst the worlds best pure coins.
Australian opal jewelry is also highly regarded, especially black opals with green hues.
In 2008 we did took some opals to shanghai and had booth at Jewelry show and sales were also strong for Koroit boulder opals with good pattern
Chinese Buyers do not have confidence in online sales yet but this will quickly change and the online jewelry market will be huge for those that can market and bring buyer confidence and satisfaction
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