JNA July/August 2022 | 23 专题报道 based substitutes, and restricted travel, with demand rising further during the second half of 2021 leading up to the winter holiday season. Retail sales in major jewellery markets the US and China also recorded robust growth last year. Data from the National Retail Federation (NRF) showed that retail sales in the US were up 14 per cent in 2021 – the highest growth rate in more than 20 years. Sales were strongest in the holiday season from November and December 2021, reaching US$886.7 billion year on year. Clothing and clothing accessories, which include jewellery retailers, saw a 33.1 per cent uptick in sales. Citing consumers’ capability and enthusiasm to spend, NRF said it expects retail sales to grow between 6 per cent and 8 per cent to more than US$4.86 trillion in 2022. China, for its part, recorded a 29.8 per cent growth in retail sales of gold, silver and jewellery in 2021 as business and consumer sentiment rebounded, data from the National Bureau of Statistics of China showed. Sales however receded in 2022 as China faced a severe wave of Covid-19 cases and the government implemented tough anti-epidemic policies, including lockdowns and travel restrictions. Faced with continuous uncertainties and fluctuating Covid regulations, consumershavedevelopedanewfound penchant for buying jewellery online, with demand for reasonably priced, daily-wear jewellery pieces providing new avenues for growth for retailers. Apart from offering more affordable products, retailers are shining the spotlight on meaningful purchases amid the pandemic. Despite a challenging environment, customers still want to honour people and accomplishments. They also recognise the value that jewellery pieces hold, especially those adorned with topquality gemstones in precious metals. New trends The jewellery sector faced significant challenges since Covid, but it has emerged stronger than before, thanks to its agile and resilient nature. Major trends are driving jewellers to up the ante and offer even more innovative products and services. Consumers turned to online shopping more than ever during the prolonged pandemic. They have become more accustomed to purchasing jewellery online and smart retailing was on the rise. – Chow Tai Fook Jewellery Group Ltd Freer / Shutterstock.com
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