A buyer examines a sapphire at a Gemoiselle Jewelry store in Beijing. ZHANG WEI / CHINA DAILY
From precious, luxury goods to affordable mass-market products. Diamonds have made that journey quickly in China.
Changing lifestyle trends and evolving urban culture have ensured that purchase of diamond-studded jewelry for daily wear is the new normal in fashion.
Beijing-based Gemoiselle Jewelry would agree. A majority of branded diamond product sales at the Chinese firm, which is known for its custom diamond accessories, are for such occasions.
Women in white-collar jobs are among its diamond buyers. On average, they spend about 10,000 yuan ($1,458) per transaction involving diamond ornaments. They do not necessarily buy large diamonds. Instead, they are more concerned about the designs.
"They care more about the piece being fashionable and whether it matches their daily wear. Besides, they care about brands like Tiffany & Co, Cartier and Chow Tai Fook. Young consumers also buy earrings and necklaces studded with diamonds in a way that suggests diamonds play a supporting role in gold jewelry," said Cao Wei, chief executive of Gemoiselle Jewelry.
"Colorful jewelry is also emerging in the Chinese market. The category is starting to take more market share. However, diamonds, whether they serve as the main body or the supporting part of a jewel, will always exist and are favored by consumers."
The jeweler's main consumers also include groups like housewives and working women, who are economically independent. In terms of age composition, apart from the young, consumers in their 40s and 50s are also the mainstay of diamond purchases.
