Prospects are bright for rubies in China, bolstered by soaring demand from the middle-class market, Gemfields’ latest consumer trends report revealed.

The report – Ruby: Breaking Out of Collectors’ Cabinets, Becoming Part of China’s Middle Class Lifestyle – examined the market’s growing penchant for the red gem, with a focus on purchase drivers, style preferences as well as innovative non-jewellery applications, among other topics.

Gemfields revealed that of all the coloured gems, ruby enjoys preferential status in China, with consumers ranking it first in terms of awareness (68 per cent) and desirability (61 per cent). In fact, 55 per cent of respondents said they have already purchased ruby jewellery.

Chinese consumers also view rubies as symbols of wealth, prosperity and sophistication while some consider them “very Chinese” owing to the colour red. Ruby jewellery designs that incorporate Chinese cultural elements and embody “new Chinese” aesthetics are highly sought after as everyday fashion choices. 

Ruby complements a wide range of styles – from classic to traditional and metropolitan Chinese, according to the report. In addition, smaller-sized ruby jewellery pieces such as rings and necklaces are preferred for their versatility.

In pursuit of individualism and customisation, middle-class Chinese consumers also go for other innovative products adorned with rubies such as watches, fragrance bottles and handbags to name a few. Rubies are also regarded as ideal gifts. The report said 48 per cent of respondents buy ruby jewellery as a gift for themselves to commemorate milestones and special occasions.

Meanwhile, 38 per cent of respondents were quoted as saying that they will purchase ruby jewellery to bring good fortune in their Chinese zodiac year. Gemfields said this presents significant business opportunities for ruby jewellers.

The buying mentality of the Chinese consumer has undergone a shift in the post-pandemic period. According to Gemfields, buyers have become more rational in their purchases, focusing on products that offer better quality and cost-effectiveness. 

The report also highlighted rising demand for transparent information on ruby prices, certification, origin and processing from reputable sources.

Amid rising demand for rubies in China, Gemfields raised the need for greater professional and authoritative education on the ruby market since this could further drive consumption. 

Emily Dungey, Gemfields’ marketing and communications director, said, “It is clear from this market research that Chinese consumers are passionate about rubies. The insights gained here will inform our marketing approach going forward – introducing greater educational resources to share our knowledge of this special gemstone with Chinese consumers.”

Gemfields will likewise work with like-minded local jewellery brands to offer elegant everyday ruby jewellery pieces, continued Dungey. 

“There seems to be much opportunity for market growth when it comes to ruby gemstones in China, and we look forward to exploring this potential,” she noted. 

The Gemfields report was conducted between September and October 2023. Data was collected via a combination of online surveys and in-person interviews of 1,000 respondents aged 25 to 60 across tier 1 to tier 2 cities in mainland China.