JNA Sep/ Oct 2021

專題報道 JNA Sep/Oct 2021 | 17 US$1.84 B 18.4億美元 Net polished diamond imports at the Shanghai Diamond Exchange from January to July 2021 2021 年 1 月至 7 月上海鑽石交易所裸鑽進口總額 The strong rebound since the beginning of 2021 indicates that the economic foundation and fundamental factors underpinning the development of China’s diamond market remain intact, thus validating the steady growth of China’s diamond imports. – Sanjay Kothari, vice chairman, KGK Group Structural shifts Evolving market segments and channels present fresh opportunities for China’s diamond trade. The Natural Diamond Council (NDC) is training its sights on China’s millennial consumers, who respond better to digital engagement, said Mabel Wong McCormick, NDC's managing director for Greater China. “The younger generation of consumers are enthusiastic about novelty and innovation, willing to try new things, less price-sensitive and head online for information. To build trust and better interact with them, we need to make good use of digital platforms, embrace social media channels and provide consumers with a seamless offline-online experience,” said McCormick. NDC has adjusted its communications strategies to form a social media matrix revolving around the Only Natural Diamonds site and social platforms WeChat, Weibo and Red to cater to younger consumers. It is also working with retailers to highlight the value of natural diamonds among their customers. NDC’s first strategic retail partner in mainland China is Chow Tai Fook Jewellery Group. KGK’s Kothari cites the rise of online sales activities as the pandemic’s far-reaching impact on China’s diamond sector. Retail of goods through digital initiatives such as podcasts, WeChat, Weibo, TikTok, Bilibili, Taobao, Tmall and VIP membership activities has seen unprecedented growth, he said. Online sales of diamond jewellery remain relatively low compared to other luxury goods though. To successfully shift to digital channels, Kothari said the industry needed to improve consumer trust by providing diamond certificates, warranties and reviews. Online sales should become more convenient through free delivery and return or “try before paying” arrangements. Additional discounts may also be provided for online purchases. “Retailers that engage with new brand ambassadors, Key Opinion Leaders (KOLs) and China’s Key Opinion Consumers (KOCs) will definitely reap substantial benefits,” Kothari added. Pandemic-related travel restrictions also confined Chinese spend to local retailers, boosting domestic sales of diamond jewellery, he continued. As a result, major local chains reported double-digit sales growth in the second half of 2020. The diamond market also expanded into lower-tier cities, enabling it to reach not only the middle class but also wealth at large.