diamonds, not marriage, are forever for china’s millennials - diamond earring and necklace set
Jily Ji was 24 when she got her first diamond ring. 5-
The carat card her parents gave her.
In the past three years, administrative assistants from Shanghai have accumulated 15-
The diamond collection she bought for herself includes rings, pendant earrings and necklaces.
"We don't have to wait passively for diamonds to be given away by men," the unmarried college graduate said . ".
"Diamond jewelry is a natural way to express yourself.
This is much better than most fashion products because it can not only get value, but also be passed down from generation to generation.
Independent Economy, University-
After 1980, he was educated and born in China and is an important consumer group for the development of the world diamond industry. So-
By value, millennials now account for 68% of global diamond jewelry sales
Large population-worth $6.
According to research by Dai beers, the world's largest diamond producer, diamond production last year was 76 billion kilograms.
Defined by De Beers as a person between the ages of 18 and 34--
In 2015, diamond jewelry in the world's four major markets cost about $26 billion, more than any other generation, CEO Bruce Chefer said in a September report.
The 0. 22 billion potential diamond consumers are still 10 years away from their richest life stage, which is a "significant opportunity" for the industry, Chefer said ".
Mining these gems could raise the price of these gems, which fell 18% last year, the biggest drop since 2008.
Diamonds have only recently attracted the attention of Chinese consumers because they are exposed to Western lifestyles and marketing.
English graduate at Harry Winston
Tiffany & Company
One of her favorite diamond Jewelers
Her mother, for example, is more likely to buy jade or gold jewelry, she said.
Xu Qiong, Shanghai, said that for Chinese millennials, diamonds are more of a fashion achievement sign than a symbol of eternal love.
Assistant director of planning based in J.
Walter Thompson, advertising agency
Companies such as Chow Tai Fook Jewelry Group Co. , Ltd. are changing this trend. and Shanghai-
Trading old Fengxiang company
Design and sell jewelry in China.
Chow Tai Fook is a leader in China's jewelry market with 5 pieces.
Bought a 7% stake in Boston.
Based on the heart of the fire company
With $0. 15 billion in 2014, it offers more unique millennial options
Preferred items include earrings and pendants of multiple small diamonds inlaid with precious metals.
"We need to design with more practical, more stylish millennials, such as mixing gold and diamonds, to attract audiences very quickly, zhou Dafu executive director Zheng Delin said in an interview in Hong Kong.
Chow Tai Fook will launch a new product line and product by the end of 2017, and signed including 29-year-
Old Korean actorsinger Li Min-He hung g and rapper G-
Cheng said the 28-year-old dragon will become a buyer of millennials.
This may help Hong Kong.
The US-based retailer, which runs more than 2,000 jewelry and luxury watch stores, has increased sales and profits, with sales and profits falling sharply since the medium term
2014 China's demand for luxury goods has been suppressed due to a slowdown and a crackdown on corruption. Shanghai-
Based on Lao Fengxiang-
Owned by the Shanghai municipal government, there are 3,000 stores and 5 in China.
Wang Ensheng, market manager, said 4% of the market is also trying to provide more choices for millennials.
"This consumer is not looking for super expensive jewelry," Wang said in a telephone interview . ".
"She pursues fashion, changes clothes every day, and wants jewelry to match.
What we need to provide her is a personalized, unique work. -
But it's not too expensive, because she has not only a diamond, but also a lot of diamonds.
Young middle class
The goal of Luk Fook Holdings International Ltd is to attend classes.
Nancy Huang, its executive director, said. Hong-
Hong Kong-based Luk Fook has 1,400 stores in mainland China and 0 stores.
She said that 7% of the market share will win female customers for manicurists and "handsome" drivers in some stores.
According to a women's tribal survey conducted by J. , independence is the highest characteristic of Chinese millennial women's identity.
About a year ago, Walter Thompson interviewed 4,300 women in nine countries.
Two of the five Chinese respondents said economic independence is more important than marriage, and 32% said success is economic independence.
Pandora A/S in Denmark
The manufacturer of the silver bracelet says it intends to stay away from love
Focus on marketing
This year, Pandora's number of stores in China has increased from 43 to 81.
"You won't see a couple in our picture," said Isabella Mann of Pandora Hong Kong --
Vice president of marketing in Asia based on telephone.
"It was a premeditated decision.
We want our brand to attract as many people as possible and we think it's out of date
A couple on the jewelry advertisement.
It may be wise.
Adverse demographic changes have led to a reduction in weddings, which has led to a "tepid" outlook in Hong Kong"
Yan, Karen Choi, Erwan Rambourg and Vishal Goel, global research analysts at HSBC, said in a October report.
They predict that due to the decline in the millennial female population, the annual marriage rate will drop by 1% in the next two years.
The number of divorces in China has also risen, more than three.
In 2015, 84 million couples broke up.
The Ministry of Civil Affairs said in July that it was up 6% year on year.
The national divorce rate is now 2.
8 individuals per 1,000, from 0. 9 in 2002.
J. said: "Companies based on the marriage system, like diamond companies, will struggle a little unless they evolve . "
Xu of Walter Thompson
"Our idea is that marriage is eternal ---like diamonds --
But what happens when marriage is no longer considered permanent?
"Millennials divorce can ultimately be positive for the diamond industry.
De Beers studies from the United StatesS.
Stephen Lussier, executive vice president of marketing at De beers, said on the phone that it was found that Americans spent 20% more on diamond rings purchased in their second marriage than the first.
"There is no reason why China's second marriage will not adopt the same trend as the United States. S. ,” he said.
"This provides us with opportunities in a bigger market. ”—