Now Available: Jewellery in China
New Consumer Goods research report from Euromonitor International is now available from Fast Market Research
[UKPRwire, Tue Jan 20 2015] Jewellery in China continued to record vigorous retail value growth in 2014, up 18%. This was mainly attributed to the rising disposable incomes, the growing middle-class population and continuous urbanisation, especially in lower-tier cities where growth momentum remains strong. In addition, as 2014, the Year of the Horse, was an auspicious year for weddings in Chinese culture, demand for wedding jewellery strongly drove the overall progression of jewellery in the country. Furthermore, the peak year of births, stimulated by the second-child policy, also contributed to the buoyant growth in 2014 as Chinese people consider gold and gem stones to bring babies’ good fortune and to help them avoid disaster.
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Chow Tai Fook Jewellery Group Ltd consolidated its leading position in the highly fragmented jewellery market in China, accounting for a retail value share of 7% in 2013. The outstanding performance was mainly driven by the rocketing increase in sales of gold products thanks to the unprecedented slump in international gold price. In addition, the improved wholesale business with the strong demand from franchisees for both existing and new stores also contributed to stimulate sales in China. Furthermore, in view of the boom in internet retailing, the company also invested more resources to accelerate e-commerce growth.
Thanks to rising disposable incomes, expected peak years for weddings and births as well as the continued expectations that investing in real jewellery will retain value given the ongoing high inflation environment, jewellery is expected to register a robust CAGR of 9% at constant value over the forecast period. In addition, leading players, such as Chow Tai Fook Jewellery Group Ltd, plan to further penetrate lower-tier cities with great potential. However, the growth rate is expected to decelerate compared with the vigorous growth in the review period, mainly due to the very large base and the projected slowdown of the macro economy.
Discover the latest market trends and uncover sources of future market growth for the Jewellery industry in China with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Jewellery industry in China, our research will save you time and money while empowering you to make informed, profitable decisions.
The Jewellery in China market research report includes:
* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
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