China Jewelry Industry Report, 2013-2016
In recent years, jewelry
consumption has kept increasing with the people’s improved affordability and
consumption level. In 2013, the global jewelry sales achieved USD184 billion,
representing a year-on-year jump of 26.03% , accounting for 57.86% of the
global luxury goods sales.
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Mainland China is a major jewelry
consumer in the world. In 2013, the jewelry sales in Chinese Mainland
approximated USD75.8 billion (USD1= RMB6.2), equivalent to 41.2 % of the
global consumption.
In Mainland China, the gold jewelry
consumption accounts for about 50% of the total jewelry consumption. In 2013,
two gold price slumps triggered spending spree; as a result, Mainland China’s
gold jewelry sales volume increased significantly by 42.5% to 717 tons in
2013.
In addition to meeting local
demand, Mainland China also exports considerable jewelry. In 2013, it exported
the jewelry with total value of USD49.06 billion, up 10.5% year on year. Hong
Kong is a major destination, importing the jewelry worth USD41.97 billion (up
7.44% year on year) from Mainland China in 2013, and accounting for 86% of
Mainland China's total export value.
Currently, Chow Tai Fook, Lao Feng
Xiang, Shanghai Yuyuan Tourist Mart, Chow Sang Sang and Luk Fook have become
the leading brands in China (including Mainland China and Hong Kong). In 2013,
Chow Tai Fook occupied the highest share 8.63% in the Chinese market (in terms
of sales revenue) , followed by Lao Feng Xiang with 5.34 %.
Chow Tai Fook: In recent years, Chow Tai Fook has highlighted the
development of the retail network in second, third and fourth-tier cities of
Mainland China. More than 65% of new stores opened by the company in 2013 are
located in third-tier (or below) cities.
Lao Feng Xiang: Distributors and franchisees occupy high proportions. By
the end of 2013, there had been 2,624 sales outlets (an increase of 323 year
on year), including 1,550 distributors (rising by 162) and 916 franchisees
(ascending by 153).
Shanghai Yuyuan Tourist Mart: In May 2013, Shanghai Yuyuan Tourist Mart merged
"Laomiao Gold" and "Yayi Jewelry" into Shanghai Yuyuan
Gold Jewellery Group Limited whose sales revenue increased by 14% to reach
RMB20.57 billion.
Chow Sang Sang: Chow Sang Sang adopts the self-operation mode. In 2013, it
opened 32 new stores in Yancheng of Jiangsu, Huzhou of Zhejiang, Datong of
Shanxi, Weifang of Shandong and other cities; it added a new store in Tuen Mun
V-City, Mong Kok and Jordan of Hong Kong each; it closed a branch in Taiwan
while opening another two new stores.
The report highlights the
following:
- Global jewelry consumption,
raw material markets, brand enterprises, etc.;
- Status quo, sales models,
regional market structure and development trends of China jewelry
industry;
- Production, processing,
marketing, export and competition pattern of China jewelry industry;
- Supply and demand of gold, platinum,
diamond and other jewelry market segments in China;
- Operation and sales network of
5 Hong Kong jewelry companies and 7 Mainland Chinese enterprises.
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