焦点 JNA July/August 2023 | 11 Diamond ring with a 1-carat emerald-cut fancy vivid purplish pink centre gem by Rosy Clouds Colored Diamonds 罗希克劳珍稀彩钻的1克拉祖母绿 切工艳彩紫粉钻戒指 China’s economy is clearly on the mend after the damaging effects of Covid-19 but some aspects of trade and commerce, especially in the jewellery industry, seem forever changed. According to industry players, recurring outbreaks – the most devastating of which occurred in 2022 – coupled with restrictive Covid measures had indirectly ushered in a new business normal. For instance, a prevailing buyer sentiment characterised by high savings and low spending remains evident in major sectors of the jewellery trade, particularly in the bridal market. Online shopping, meanwhile, has become even more mainstream. Stone Xu, chairman of China-based diamond jewellery retailer Zbird, explained, “As a result of the Covid-19 outbreak in 2022, the proportion of online purchases soared significantly, with the advent of livestreaming and the everincreasing number of consumers buying goods through this channel.” Product preferences have likewise changed. Rings remain a must-purchase in the bridal jewellery market, but businesses are seeing a shift in consumer choices for everyday jewellery. Buyers are gravitating towards colourful pieces that celebrate individuality hence stronger demand for coloured gemstone products, traditionally crafted gold jewellery and enamel jewellery. According to Xu, coloured gemstones is a popular livestreaming category. Meanwhile, many diamond retailers are expanding their product offerings to include coloured gemstones based on rising market demand. Coloured gemstones also provide greater diversity and higher margins and can cater to buyers with different budgets. Xu added that majority of consumers in China directly associate diamonds with love and wedding rings, so they believe one diamond is enough to last them a lifetime. However, as consumers’ spending power and desire to wear jewellery daily increases, coloured gemstones are gradually coming to light as a top consumer choice. Some coloured gemstone categories have had a strong following in China for quite a while, including quartz and chalcedony as well as jadeite and nephrite. Now, the so-called Big Three in the gemstone world – ruby, sapphire, emerald – are gaining more traction. Another well-loved category is pearl jewellery, which has been much favoured since ancient times. Consumer education on coloured gemstones has also improved over the years. Consumers buy coloured gemstones for investment and collection purposes, and for everyday wear. With the rise of online sales and livestreaming businesses, commercial-grade coloured gemstones rose in popularity among consumers, and these include spinel, tourmaline, chrysoberyl, opal, tanzanite, topaz, moonstone and chalcedony, to name a few. Cautious buying Retailers remarked that diamond demand remains lower than pre-Covid levels, adding that a significant drop in prices since last year heavily affected decisions of diamond dealers and retailers when rebuilding inventories. Wu Peng, general manager of Jinghua Jewellery, said several large retailers who used to source diamonds in large quantities monthly would now make purchases once every two or three months. Some retailers even launched a price bidding system among their suppliers. Diamond brooch by Rosy Clouds Colored Diamonds 罗希克劳珍稀彩钻的钻石胸针
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