ALROSA: Consumer Interest in Diamond Jewellery Continues to be High in Chinese and US Markets

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Consumer interest in diamond jewellery continues to be strong both in the USA, which is the world’s largest market, and China, the most rapidly growing market, for the segment, according to a research study commissioned by ALROSA. Other highlights of the survey are that most purchasers are planning to buy them again in the coming year, and that they purchase for themselves much more often than as a gift.

On an average, 44% of Chinese consumers and 38% of US consumers buy one piece of diamond jewellery a year. 34% of respondents from China and 30% of respondents from the USA make two purchases a year. Every seventh consumer in China and almost every fifth consumer in the USA buy three pieces of jewellery a year.

According to the study, 86% of Chinese respondents and 59% of respondents in the USA revealed that they planned to buy at least one piece of diamond jewellery in the coming year. About 34% of respondents in China and 37% of those interviewed in the USA said that they would recommend diamond jewellery if friends sought their advice on what to gift a loved one.

In about 60% of all cases, diamond jewellery was gifted to a husband or wife, while in the USA, it was also gifted to parents (14%) and friends (12%) more often than in China.

Most often, gifts with diamonds are given to people aged 26 to 45 years – they account for 71% of gifts in China and 57% in the USA. In China, less than in the USA, gifts are made to people over 46 years old – they account for just 16% of gifts (in the USA – 25%). In the USA, more often than in China, diamonds are given to teenagers – the share of gifts to children aged 11 to 17 years is 4%, while it was only 1% in China.

Diamonds are given to women more often than to men – accounting for approximately 94% of the cases in China and 87% in the USA.

The study was conducted by GfK (Growth from Knowledge), an international group specialized in research and analytics of consumer behavior and public opinion. It was conducted in Autumn 2017 and covered more than four thousand people across the two markets – men and women aged 25 to 55 years, with average or above average income who bought or received diamond jewellery as a gift within the last 12 months.

News Source : gjepc.org

Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.

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