FOCUS 22 | JNA September/October 2022 25.7% Market share of online jewellery sales in China in 2021 2021年线上珠宝销售占比 Geng explained that big retailers remain cautious about building inventories while small designer studios and jewellery salons that rely on bespoke orders and online sales prefer consignment sales. Sales of diamonds above 0.50 carat rose while those of 0.30 carat remained weak. Demand for round diamonds of 1 carat to 2 carats and fancy shapes of over 2 carats are stable. Huabi (HB) Diamond plans to boost sales of 0.50-, 0.70- and 1-carat round diamonds in the second half of 2022 and promote fancy shapes and fancy colour diamonds to bespoke jewellery retailers. “Post-June 2022 sales could partially make up for losses in April and May but July and August are expected to have been regular slow seasons. This, alongside weak consumer confidence, could result in low business volume in 2022 compared to 2021,” noted Geng. The industry is counting on major festivities and occasions in the second half of the year to bolster retail growth, including traditional wedding peak seasons in September and October and other retail events like Double 11 or Single’s Day on November 11, Christmas and New Year. The wholesale business meanwhile could benefit from this potential upturn in the months leading to these important seasons. China’s diamond price index In November 2021, the SDE, Gems & Jewellery Trade Association of China (GAC) and National Gemstone Testing Centre (NGTC) jointly launched the China Diamond Price Index and China Diamond Price List, the first of their kind based on China’s Diamond Grading Standards and expressed in local currency. Taking into consideration polished diamond imports, wholesale and retail, the China Diamond Price Index set the July 1, 2021 price level as baseline (100), reflecting price trends for 0.30-carat to 2.99-carat polished diamonds – the most popular sizes in China. The China Diamond Index provides diamond jewellers and consumers with domestic diamond price trends for reference. In the 12 months since July 2021, the price of 0.30-carat to 0.39-carat range barely changed while 0.50carat to 0.69-carat stones inched up a bit and 1-carat to 1.49-carat stones recorded a 20 per cent increase. The biggest winner was the 1.50-carat to 2.99-carat range, which rose over 25 per cent, according to SDE. Higher baseline While plain gold jewellery remains the bestselling category in China, accounting for 58.3 per cent of sales China Diamond Price Index 中国钻石价格指数
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