Title: The jewelry industry's use of recycled resources Abstract: Pandora, the world's largest jewelry retailer known for selling bracelets and silver charms, has sold more than 100 million pieces of jewelry per year. The Danish company has factories in Thailand and employs over 12,200 craftsmen in Thailand. Pandora has announced that it exclusively uses recycled metals, including silver and gold, without using newly mined minerals.

Pandora's initiatives mark significant steps for a large company in reducing its environmental footprint, which is a measure indicating how much burden the production process imposes on the environment. Alexander Lacik, Pandora's CEO, stated in an interview that the company aims to lead in using recycled metals as an example for the market. If Pandora can create change by using recycled silver and gold in jewelry production, it means that others can follow suit.

Pandora refrains from mining new metal ores but utilizes metals that have already been mined, significantly reducing greenhouse gas emissions. Mining requires more energy and resources compared to recycling and contributes to pollution from substances like cyanide. According to the World Gold Council, recycling gold reduces greenhouse gas emissions by over 99% compared to mining new gold, while silver recycling reduces carbon emissions by over 66% compared to mining new silver.

Other brands like Prada and Monica Vinader have also started using recycled metals. However, industry observers have warned that recycled metals may create an image of reducing environmental impact more than it actually does. This is because each person interprets the term "recycled" differently, similar to how "sustainability" can have varying meanings.

Ms. Tiffany Stevens, CEO of the Jewelers Vigilance Committee based in New York City, which specializes in ethics and public policy advocacy in the jewelry industry, stated that the term "recycled" generally carries a positive connotation, making jewelry made from recycled materials appear environmentally friendly. However, interpreting the meaning of "recycled" remains problematic, especially when the source of recycled metals is not specified. This is one reason why Ms. Stevens has requested the Federal Trade Commission to prohibit the use of the term "recycled" for jewelry sold in the United States. She expects the Federal Trade Commission to announce environmental marketing guidelines within the year 2023.

Currently, this policy dictates that using the term "recycled" without using or transforming materials from waste is considered deceptive. Generally, metals are not considered waste because when melted down, they can be reused for many centuries while retaining their original value. Additionally, "recycled" does not prompt consumers to consider the source of metals as they should, as some metals may come from mines supporting child labor or criminal networks. Mr. Patrick Schein, owner of a mining company and committee member of the Alliance For Responsible Mining, an organization advocating environmentally sustainable mining, stated that the term "recycled" has turned metals sourced from unethical practices into seemingly ethically transformed new metals.

While the Alliance For Responsible Mining has been supporting the development of responsible supply chains in the jewelry and gemstone industry through working with small-scale mines to increase environmentally responsible mining practices, their 2023 report and partners have pointed out that recycled gold has created precarious situations for workers. For example, there are issues with obtaining official mining permits and working in remote locations.

Mr. Lacik stated that while Pandora has shifted to using recycled metals to reduce environmental impact, there is a need to decide whether climate issues are more or less significant than social issues for any group. For Pandora, addressing climate issues is a paramount concern for humanity in the long term.

Despite Pandora's shift to using recycled metals to reduce environmental impact, statistical data shows that gold and silver mining has not slowed down in the past decade. Therefore, the adoption of recycled metals by various companies may only marginally reduce environmental impact.

More than 100 employees of Pandora have been involved in the shift to using recycled metals. In 2024, they transitioned from mining to cultivating lab-grown diamonds. This change in metal sourcing has led the Responsible Jewellery Council, a global leader in setting standards for jewelry and gemstone production based in London, to adjust their processes and tools for measuring diamond standards.

MKS PAMP, a Swiss trading and mining company and a partner of Pandora, mentioned that they can trace the origin of every gram of recycled metal to its owner. Xavier Miserez, the head of sales, commented that the company avoids using recycled metals from sources that do not treat their employees ethically.

Pandora plans to invest over 10 million US dollars per year in transitioning to recycled metals instead of newly mined metals. The company is prepared to bear these costs. However, Lacik believes that factors influencing consumer purchases are design, price, and some groups may prioritize sustainable production, although they may not be the majority.

Besides the design and pricing of jewelry and pearls being the main factors in consumer decision-making, environmental awareness is also growing. The world's largest pearl producers have started using recycled metals in pearl production instead of mining new ones from underground, aiming to reduce environmental footprints and address climate change issues. Therefore, Thai entrepreneurs and exporters may study and improve the jewelry and pearl production supply chain with a greater focus on the environment, while keeping up with the updates in environmental marketing practices (Green Guides) by the Federal Trade Commission, to align marketing strategies in the United States with the guidelines set by the FTC Source: DITP @topic:10


Title: The Indian government has increased import duty to 15 percent on gold, silver and precious metal coins. Abstract: On January 22, 2567, the Ministry of Finance of India announced an increase in import taxes on pearls and jewelry components for gold, money, and metal coins by 15%, which includes a Basic Customs Duty (BCD) rate of 10% and an additional 5% to align with the Agricultural Infrastructure Development Cess (AIDC) exempt from the additional tax rate from the Social Welfare Surcharge (SWS) (previously collected at 10%). The Ministry of Finance defines 'Gold and Silver findings' to include small components like clasps, keys, locks, lock bodies, catches, and pins used as part of jewelry.

Additional information:

1. The Indian government, through the Ministry of Finance, has increased the customs duty rates for the import of Silver Dore Bar and related metals to align with the rates previously set for gold and money. The Basic Customs Duty (BCD) for silver articles is raised to 10% (from 7.5%), including an Agricultural Infrastructure Development Cess (AIDC) of 5% (from 2.5%). For silver dore bars, BCD is set at 10% and AIDC at 4.35%, while components of silver are subject to BCD of 25% (from 22%), with no changes for gold.

2. India is the world's second-largest consumer of gold jewelry, mostly imported. The purpose of this tax hike is to streamline the import of valuable metals, enhance economic landscapes within the country, and create efficient import markets.

3. During the budget session 2021-2022, Finance Minister Nirmala Sitharaman proposed the inclusion of an Agricultural Infrastructure Development Cess (AIDC) for alcoholic beverages, gold, silver, silk fabric, pulses, apples, gasoline, and diesel. The aim of the government's taxation measures is to maintain domestic markets efficiently, preserve inventory, and process agricultural products effectively, instilling confidence among farmers of improved incomes. The commercial tax rates and fees set by this taxation measure are designed to not burden consumers.

4. The government believes that the increase in import taxes for gold, money, and metal coins in this instance will contribute to increased revenue for the country, strengthen economic stability, and promote state welfare programs.

comments:

1. The policy of increasing import taxes on jewelry, including gold, money, and metal components for coins, in this instance, will lead to increased awareness and preparedness among businesses and consumers to handle the potential impacts. This includes informing consumers about changes in international trade measures and policies that promote domestic business and industry. Industries directly affected by this move are those in the jewelry sector that focus on importing jewelry made of gold, silver, and other components of money used in products. Additionally, India's metal industries will directly feel the impact of this increase, affecting production processes and factory capacity. This positive impact will elevate competitiveness within the country's industries, fostering product development and offering consumer choices.

2. SKT sees that the tax adjustment measures for jewelry and jewelry-related products, including gold, money, and valuable metals, are merely addressing the issue of trade imbalances within the country. SKT has observed the situation and notes that these measures not only fail to swiftly resolve the issue but also bring negative side effects to the domestic jewelry industry. This is because the industry must bear the cost burden resulting from tax increases and a lack of production materials. Thai entrepreneurs should understand and closely monitor the Indian government's measures and prepare for business readiness. The Indian government tends to announce trade barrier measures to protect domestic industries regularly. Source: DITP @topic:8


Title: The US jewelry market is sluggish. (Weekly news 5 – 9 February 2024) Abstract: the market research data provided by Tenoris regarding the jewelry trade in the United States during the late December 2023 festive season compared to the same period in 2022:

1. Jewelry sales in the United States showed a growth rate of 0.3%, and consumer spending on jewelry increased by 1.6% on average during the period, indicating a positive trend in the market.

2. Sales of Specialty Jewelry stores grew by only 0.1%, attributed to a market trend shifting towards "less for more," where consumers reduce the quantity of jewelry purchased but increase the average spending. This trend is believed to be influencing consumer behavior.

3. Overall, finished jewelry sales grew by 1.1%, but bridal jewelry sales saw a decrease of 11.2%, indicating a shift in consumer preferences within the jewelry sector.

4. Gold jewelry sales and volume increased by 16% and 12% respectively, marking growth across all types of jewelry. Gold bracelet sales grew by 17%, with growth seen in all price ranges. Products in the $20,000 - $50,000 range saw a 36% growth, and those in the $250 - $500 range grew by 11%.

However, Tenoris notes that the overall data for the year 2023 shows a declining trend in the United States jewelry market, with a sales decrease of 5.8% as follows:

1. Finished jewelry sales decreased in both value and volume by 3.9% and 4% respectively, mainly attributed to reduced trade in fashion jewelry and bridal jewelry.

2. Diamond jewelry sales saw a decrease in both value and volume by 2.8% and 3.5% respectively. Natural diamond jewelry sales and volume decreased by 4.8% and 5.9% respectively, while lab-grown diamond jewelry sales and volume increased significantly by 40.6% and 56.2% respectively.

Consumer interest in jewelry has declined due to the uncertain economic situation in the United States, which is believed to be the root cause of the "less for more" trend where consumers reduce the quantity of jewelry purchased but increase their average spending per purchase. Consumers in the United States are redirecting their spending towards increased tourism activities. There's a growing tendency among consumers to prioritize the "value" of jewelry products.

Tenoris indicates significant trends in the U.S. jewelry market in 2023 that are expected to continue into 2024:

1. Potential growth in the middle-market consumer segment.
2. Growing saturation in lab-grown diamond jewelry, while lower-priced lab-grown diamonds are expected to remain popular.
3. Continued growth in gold jewelry preferences.
4. The stability of consumer demand for products in the $1,500 - $5,000 price range, accounting for 36% of sales in 2023. Products in the $5,000 - $10,000 range accounted for 14%, and those in the $750 - $1,500 range accounted for 17% of sales in 2023. Source: DITP @topic:8


Title: The price of pearl jewelry in Denmark has increased by more than 500 percent. Abstract: Due to the COVID-19 pandemic situation, pearl farms have halted production, coinciding with a rapid increase in the popularity of pearls in the fashion industry. This has led to a significant rise in prices for high-quality cultured pearls over the past few months.

Importing and jewelry company Birgitte Munch provided information to the Danish business newspaper Børsen, stating that the prices of cultured pearls in the global market have surged. Companies now need to pay over five times more to purchase these products for manufacturing. This observation is echoed by jewelry auction company Bruun Rasmussen Kunstauktioner.

Torben Skov Pearls, one of Denmark's largest pearl importers, with a stock of over 100,000 cultured pearls, revealed that they exported a large quantity of pearls to China for the first time since 2543 B.E. This trend has been observed both in the general fashion industry and on red carpets.

Additionally, Torben Skov Pearls, the pearl jewelry importer, mentioned that the popularity of pearls in the pearl and jewelry industry has rapidly increased over the past decade, especially since 2561 B.E. Danish female consumers prefer large baroque freshwater pearls due to their affordability, using them for earrings and pendants.

Moreover, in recent years, pearls have become a popular item for men as well. Since 2562 B.E., celebrities and famous male personalities, including British singer Harry Styles, actor Jason Momoa, Danish designer Søren Le Schmidt, singer Christoffer, and TV presenter Abdel Aziz Mahmoud, have been wearing pearl jewelry, particularly white cultured pearl necklaces.

This popularity in pearls is part of the understated luxury trend, complementing vintage watches from the 1950s-1960s and Hermès bags, reflecting simplicity, classic elegance, and luxury for the wearer. Source: DITP @topic:15


Title: Lab-Grown diamonds are hot in the United States. Abstract: The COVID-19 pandemic has had a significant impact on various aspects of life for consumers globally and Americans in many ways, including dating and marriage decisions. This has led to a slowdown in the engagement ring market in the recent past. However, with the easing of pandemic-related situations, allowing people to resume normal activities, there is an increasing trend among Americans to make marriage decisions this year. Consequently, this has expanded the retail market for diamond jewelry in the United States.

Signet Jewelers Limited, the world's largest retail operator of jewelry and diamond products, headquartered in Akron, Ohio, which is the parent company of well-known jewelry retailers in the United States like "Jared," "Blue Nile," "Diamond Direct," "Kay Jewelers," and "Zales," has disclosed information indicating that the lifestyle factors enabling Americans to engage in outdoor activities normally are contributing to an expansion in the engagement rates among Americans. The engagement rates have increased from approximately 2.1 to 2.2 million couples in the past year to around 2.5 million couples this year. This trend is expected to stimulate the sales of diamond and jewelry products in the United States, particularly in the engagement ring and wedding ring categories, which represent nearly half of the total market value of the jewelry and diamond products in the United States.

Given the economic conditions in the United States, which continue to face fluctuations in several factors, such as the volatile interest rates in the highly adaptive market and ongoing inflation affecting market prices, Americans still exhibit cautious spending behaviors and product choices. This is especially true for luxury goods, coupled with advancements in lab-grown diamond production, leading to lab-grown diamonds being up to 80-90% cheaper than natural diamonds in the market.

According to diamond price statistics in December 2026, a natural diamond of 1 carat size is priced between approximately $2,110 to $6,076, whereas a lab-grown diamond of the same size is priced at only about $441 to $1,018, making it cheaper than natural diamonds by around 83%.

Furthermore, the physical and chemical properties of lab-grown diamonds are almost indistinguishable from natural diamonds. Additionally, lab-grown diamond production can yield diamonds with higher clarity compared to natural diamonds, which often contain impurities. This aligns with the current consumer trend emphasizing environmental conservation and sustainable practices, promoting transparent and ethical business conduct, free from child labor, forced labor, and exploitation, which are closely linked to the diamond mining industry globally.

The factors mentioned above have led American consumers, especially the younger generation who are starting families, to show increased interest in choosing lab-grown diamonds. This has resulted in the expansion of the lab-grown diamond market in the United States. Major retail players in the market, such as JC Penny and Walmart, have shifted towards selling lab-grown diamond products more prominently. Even companies like De Beers, a major player in diamond mining and trading globally, have begun to invest in lab-grown diamond production under the brand "Lightbox" to align with the market trend of lab-grown diamond expansion.

Overall, it is expected that the global lab-grown diamond market will continue to expand, reaching a total value of $55.6 billion by the year 2574 BE (2031 AD), with an average annual growth rate of 9.8% (CAGR).

 suggestions
The diamond is a precious gem that many people dream of owning. Over the past few centuries, there has been a serious diamond mining industry to meet the continuous market demand. However, the majority of natural diamonds in the market are often controlled by a few large diamond traders worldwide, giving them the power to set high prices.

As consumer trends in the market shift towards purchasing more Lab-Grown diamonds, it inevitably reduces the demand for natural diamonds and leads to a corresponding decrease in their market prices. This could potentially make natural diamond jewelry more accessible in the future.

Regarding Thai entrepreneurs, although Thailand doesn't have diamond mines domestically, it does export diamonds to the United States market, mainly by importing diamonds to be crafted into jewelry for export. The craftsmanship quality of Thai workers is well recognized among international retail traders. Therefore, if Thailand can support entrepreneurs in the industry to produce Lab-Grown diamonds as raw materials for the industry, replacing imports from abroad, it could help strengthen the stability of raw material production in Thailand's industry in the future. Source: DITP @topic:8


Title: Surat Diamond Bourse, a new diamond market that's better than before. Abstract: The Surat Diamond Bourse (SDB) is a new and significant diamond trading market in India, located in Surat city. It is expected to be larger than the Pentagon building in the United States. The new SDB project is estimated to cost around 3,500 Crore (151 billion Baht) and is scheduled to start operations in December 2023. News sources indicate that there will be an invitation for Narendra Modi, the Prime Minister of India, to inaugurate this diamond trading market.

The relocation of the diamond trading market to Surat has sparked great interest among diamond traders. Key proposals include a one-year exemption from maintenance fees for businesses that relocate and commence operations by November 21. Additionally, there will be advertising campaigns targeted at companies moving, aimed at creating business incentives to attract major diamond companies from Mumbai to operate in Surat.

The relocation of the diamond trading market from Mumbai to Surat, supported by the Indian government, presents a special and beneficial opportunity for Thai companies looking to invest or promote trade in the jewelry and gem industry within Surat's diamond trading market (SDB). However, the jewelry and gem industry has been affected by the global downturn in diamond trading, leading to unavoidable impacts on the workforce in the diamond industry and an important economic force
Zavier Bazaar is a significant jewelry and jewelry trading center that has been established for over 50 years in the city of Mumbai. This industry has experienced remarkable growth, with diamond traders moving from Prasad Chambers to the Pancharatna building in Opera House in 1975. The diamond trading market spans across an area of up to 20 acres and houses around 2,500 offices in the BKC area. This kingdom also includes numerous amenities such as seven banks, nineteen restaurants, two online trading platforms, three diamond testing labs, five equipment maintenance staff, and customs clearance services.

While the Bharat Diamond Bourse (BDB) continues its global trading operations, Surat has emerged as a city born out of the business of cutting and polishing raw diamonds, leveraging its affordable labor force. The Kathiawadi labor group, known for their expertise, has become leaders in craftsmanship and expanded business operations to several cities with manufacturing facilities. As a result, the diamond trading market in Mumbai, specifically the BDB, has become a hub for wealthy individuals in the diamond industry and a vital trading center globally.

A member of the SDB team expressed contrasting views regarding the comparison between Mumbai and Surat in the jewelry and gem industry, including the Palanpuri and Kathiawadi labor groups. They argued that the establishment of SDB focused solely on collaborative work. The proposal for office spaces in the diamond trading market requires advance booking, and the free maintenance fee offer is not exclusive to businesses from Mumbai but open to all reservations, whether from Mumbai, Delhi, Dubai, or any other city. Furthermore, the team cited Surat's development, transforming from a fashion hub to an industrial city, emphasizing the need for Surat to become a trade center to achieve its vision successfully. Since 1975, Surat has evolved into a significant apparel manufacturing city and a trading hub.
     When comparing the potential of the diamond industry between Mumbai and Surat, one diamond polisher in Mumbai commented that Surat is not yet ready to offer suitable conditions to international customers. Despite being a dry state where the sale of alcohol is prohibited, Surat has only two five-star hotels available for sale, and there are still many bureaucratic processes to navigate. On the other hand, diamond traders have more conveniences in Mumbai, including hotels and restaurants. Additionally, Mumbai has economic support with its airport connecting to many international destinations, whereas Surat lacks favorable transportation infrastructure for business travelers.

Mr. Mahesh Gadhvi, CEO of the Surat Diamond Bourse (SDB), provided a different perspective, noting that although SDB is located in a suburban area, infrastructure development has been ongoing. Currently, the Vande Bharat train connects Mumbai and Surat in just 2.5 hours, with bullet trains taking only one hour. Government efforts to improve transportation, particularly the Diamond Route, have facilitated economic linkages to SDB. Moreover, Surat's airport now offers flights to Sharjah in the UAE three times a week.

Additional information:
Despite the presence of upscale malls and apartments surrounding business centers like SDB/BDB, the declining diamond trade has impacted employment, with 750,000 to 1 million jobs affected. Most of the workforce is engaged in diamond cutting and polishing, with over 5,000 units operating in this sector.
The Russia-Ukraine conflict has impacted the supply chain for rough diamonds, leading to a scarcity of goods. Russia's diamond market has become the first choice in the jewelry industry, even for smaller-sized diamonds. However, when there is a shortage of diamonds demanded in the global market, diamond polishing businesses are affected with reduced orders. This has resulted in a decrease of about 20-30% in employment within the diamond polishing sector in Surat.
Comments
1. Consolidating the diamond trading business into Surat alone could benefit Thai-Indian trade relations. Thai entrepreneurs would have direct access to sources encompassing over 90% of diamond traders and related industries in Surat.

2. Pairing promotional activities with enhanced collaboration with Surat's diamond market would boost trade relations between Indian companies and Thai entrepreneurs. Inviting Surat Diamond Bourse (SDB) entrepreneurs to events like BGJF 2024 is a way to strengthen business relationships and facilitate knowledge exchange.

3. India is a crucial diamond market for Thailand, ranking third in exports after Hong Kong and Belgium from January to September 66. India is Thailand's top import market, with a value of 32,034.93 million baht (64.61% of total imports). Establishing business ties with Surat's diamond market can help Thai diamond traders study and exchange business experiences, enhancing trade opportunities.

4. Developing Thai entrepreneurs' capabilities in the diamond industry through deep knowledge training would help them understand global market trends and demands. For instance, synthetic diamonds have become popular due to the Russia-Ukraine conflict's impact on the supply chain, offering an alternative for consumers and gaining popularity in the wedding jewelry market. Source: DITP @topic:8


Title: Prospects of high-end jewelry in the Chinese market in 2024 Abstract: Due to the global economic recovery, the high-end jewelry market in China is expected to grow. Financial data from Burberry for the first quarter of 2023 indicated a growth of 46%, with China being a key driver of this growth. Burberry's sales during the three months from May to July 2022 increased by 18% compared to the same period the previous year. Additionally, reports on China's luxury goods market in the first half of 2022, as analyzed by professional consumer research and consulting organizations in China, showed a 24% increase compared to the same period the year before. They forecasted a 10% growth rate for the second half of 2022 and an annual growth rate of about 15%. These data demonstrate that Chinese consumers continue to have strong demand for luxury jewelry and are showing a trend of growth.

In terms of high-end jewelry consumption in China, the continuous increase in consumer purchasing power has led to a higher demand for unique and high-quality products. According to reports from the fashion and luxury goods industry, Chinese consumers have shifted from brand preferences to a focus on quality, design, and uniqueness. One reason for the increased popularity of high-end pearl jewelry in China is its distinct advantages in design, quality, brand image, and price. High-end pearl jewelry is a luxury fashion product with unique characteristics, modern design suitable for daily wear, and specially designed for younger consumers who appreciate novelty. Another reason is that high-end pearl jewelry products are of high quality, well-crafted, often with unique craftsmanship, adding value and distinguishing them from general jewelry products.
Currently, Chinese society places great importance on uniqueness and expressing individual values, leading to continuous promotion and elevation of the luxury jewelry industry in China. Additionally, various jewelry brands have expanded their markets to different cities in China, designing products that cater to different consumer groups. This has facilitated easier consumer access and continuous consumption, increasing the demand for luxury jewelry. The growing economic strength and expanding middle class in China in recent years have been key drivers in the continuous growth of the luxury goods market. These factors are expected to continue driving growth in the high-end jewelry market in China, making it a market to watch on a global scale in the year 2567.

The impact on Thailand's economy and the strategies for adaptation by the government, private sector, and Thai entrepreneurs after the global spread of the COVID-19 virus have been significant. This situation has led to changes in consumer behavior and the emergence of new consumer groups, which in turn have impacted consumption patterns and business models of luxury goods in China as well. Currently, Chinese consumers are showing a greater inclination towards conserving their preferences. Consumption data for pearl jewelry in China indicates an increased investment in luxury goods, especially pearl jewelry and watches that retain value. It is expected that consumption will rapidly increase, with young consumers and consumers from secondary cities in China playing a significant role in driving the growth of luxury goods consumption.

High-quality pearl jewelry products produced through good manufacturing practices, featuring modern luxurious designs with unique characteristics suitable for daily use and appealing to young consumers and consumers from secondary cities in China, will certainly have opportunities in China's high-end jewelry market. Source: DITP @topic:8


Title: Chinese teenagers are increasingly wearing pearl jewelry. Abstract: Recently, pearl jewelry has become a popular product in live streaming sessions on E-commerce platforms in the Chinese market. These live streams showcase how to open oysters to reveal pearls and the customization of pearl jewelry according to consumer preferences. The sale of pearl jewelry has gained immense popularity among online viewers, largely due to the influence of celebrities wearing pearl jewelry in famous dramas and public events. This trend has made pearl jewelry a strong trend among young Chinese consumers.

Pearl jewelry is considered a potential choice in the category of pearl jewelry products for the younger consumer group because of its variety and diverse price range. According to reports from Taobao's live streaming platform, the most popular categories of pearl jewelry are necklaces, earrings, rings, and bracelets. Statistics from live streaming rooms on platforms like Bee, which ranks second on Taobao.com during online sales promotion festivals like "618," show that necklace sales account for 74.7%, while earring sales make up 16.9% of the total sales. The majority of consumers purchasing are young women who prefer fashionable necklaces.

After pearl jewelry gained popularity among the younger consumer group, the selling prices of pearls increased. The China Pearl & Jewelry Association reported that over the past year, the prices of freshwater pearls, in general, have increased by 30 to 50 percent, with some popular types of pearls seeing an increase of up to 80 percent.

During October 26-30, 2023, the China International Jewelry Fair was held in Beijing, which is an important exhibition and information exchange event for China's jewelry business every year. This year, more than 1,600 companies participated in the exhibition, with foreign operators from 40 countries such as Thailand, Sri Lanka, and South Korea attending. Operators provided information at the event that the prices of imported sea pearls have continuously increased. Compared to May, the prices of some types of pearls increased by about 50 percent. For example, certain types of pearls increased from 10,000 yuan to 13,000-15,000 yuan. Furthermore, the prices of golden pearls increased by 30 percent compared to August. The continuous increase in imported sea pearl prices has also led to an increase in prices of domestically produced freshwater pearls, promoting sales of premium-grade freshwater pearls. Experts in the Chinese jewelry industry provided information that freshwater pearls are currently more popular in the Chinese market compared to high-priced sea pearls. Lower-priced freshwater pearls are more popular among Chinese consumers.

China is the world's largest producer of freshwater pearls, accounting for over 90% of global production. The areas where freshwater pearls are predominantly cultivated are mainly distributed across provinces such as Jiangxi, Jiangsu, Anhui, Hubei, Hunan, and Jiangxi. The total cultivation area is approximately 533.28 square kilometers. Jiangxi Province, specifically, is the largest producer of freshwater pearls in China, with a significant portion of cultivation located in Sanxianhu District, Jiujiang City. This area alone accounts for about 73% of global freshwater pearl production and 80% of China's total production. In 2026, the sales of pearls from this district exceeded 40 billion yuan, with online sales contributing over 25 billion yuan.

The majority of sea pearl cultivation is located in provinces such as Guangdong, Hainan, and the Guangxi Zhuang Autonomous Region, covering an area of approximately 20.08 square kilometers.

The trend of wearing pearl jewelry among young Chinese consumers is increasing. However, the production of cultivated pearls in China has been continuously decreasing. In 2023, the total production of pearls (including natural and cultured pearls) in China was 1,000 tons. For cultured pearls specifically, it was 456.5 tons, consisting of 454.4 tons of freshwater pearls (a decrease of 25.4%) and 2.1 tons of sea pearls (a decrease of 23.74%).

Market for jewelry in China:

Due to increased income among the Chinese population, the sales of jewelry, on average per person, have been steadily increasing. In 2024, the sales per person were 711.29 yuan, marking an increase of 39.55%.

The trend of wearing pearl jewelry among young Chinese consumers is increasing. Pearl jewelry is one of the rapidly developing categories in the jewelry industry, especially after the COVID-19 pandemic, driven by the popularity of live streaming businesses through China's E-commerce platforms. Although the market for pearl jewelry has developed rapidly, its share in the Chinese jewelry market is still relatively small, at only 2.2%. Source: DITP @topic:10


Title: India is set to become the largest market for Lab Grown Diamonds. Abstract:  India is poised to become the largest market for Lab Grown Diamonds. The increasing acceptance of Lab Grown Diamonds has brought more vibrancy to India's jewelry and gem industry. Indians are increasingly accepting diamonds from laboratories due to consumer demand and concerns about ethics and sustainability. This has led to a rise in the volume of diamonds grown in labs. India's jewelry and gem industry is thus gearing up for a bright and sustainable future, friendly to the environment as it is not associated with the social and environmental damages caused by diamond mining.

The 11th edition of the Delhi Jewelry and Gem Fair (DJGF) held at Pragati Maidan in New Delhi featured a Diamond Pavilion showcasing the largest lab-grown diamonds in India. Over 550 exhibitors participated, displaying a diverse range of products from more than 1,500 brands, including jewelry collections and diamond products, along with gold and precious pearls. The main attraction was Lab Grown Diamonds, which are showing significant growth trends.
India is set to become the largest market for Lab Grown Diamonds (LGD), with a prominent role in the lab-grown diamond industry. It accounts for approximately 25% of LGD production globally, driven by advancements in technology and increasing consumer acceptance and accessibility.

The growing demand for LGDs has led to rapid growth in India's export collections. In 2023, LGD exports increased to INR 12,500 Crores, a 45% rise compared to INR 8,719 Crores in 2022. Many polishing and cutting companies in India have begun processing LGDs, accounting for around 20-25% of the market.

Moreover, the Indian government has announced numerous initiatives and incentives in the latest budget to support and position India as a leader and hub for LGDs. Despite concerns about declining prices due to technological advancements, reports and studies indicate that demand is expected to outstrip supply in the coming years. This is because global mines are decreasing, and natural diamond supplies are expected to decline.

The Lab Grown Diamond (LGD) jewelry industry currently has a value of $10 billion in the United States and is expected to touch $50 billion by the year 2573. The increasing demand is expected to be driven by consumers who desire to own diamonds but cannot afford natural ones. Currently, less than 5% of Indian women can afford natural diamonds that are expensive. Lab-grown diamonds open up opportunities for the remaining 95% to wear and purchase diamonds at more affordable prices. Overall, the LGD industry in India is poised for continuous growth and expansion, driven by both domestic and international demand. India is positioned to secure a substantial share of this $50 billion market.

India has several advantages in the LGD industry, including expertise in diamond cutting and polishing, strong manufacturing infrastructure, and a large domestic market. The demand for LGDs is expected to continually increase due to various supporting factors such as increased awareness of the environmental and economic benefits of LGDs, rising disposable incomes, and urban expansion.
1. Thailand has a renowned jewelry industry and can foster technological collaboration with India, including knowledge sharing, research, and joint development of advanced diamond production techniques.

2. Srikant Mubai suggests that Thai entrepreneurs should participate in key LGD exhibitions in Thailand, such as the India International Jewellery Show (IIJS). This could facilitate collaboration with Indian jewelry traders, especially in designing and distributing LGD jewelry collections, thereby expanding access to Indian consumers.

3. Thai entrepreneurs should focus on targeting new-generation Indian consumers who seek affordable yet luxurious everyday jewelry. This approach can help capture a broader market in India. Source: DITP @topic:8


Title: New Opportunities for Colored Gemstones in the Chinese Market Abstract: In the first half of 2023, according to consumption trends of gemstones and jewelry on the Douyin app in China, online consumption in the gemstone and jewelry market has increased. From July 2022 to June 2023, short video content related to gemstones and jewelry grew by 20.4%, searches for content related to gemstones and jewelry increased by 80.5% year-over-year, and live broadcasts related to these topics saw a 61.4% increase year-over-year. According to data from the China Gems and Jewelry Industry Association, during the first half of 2023, the average price of colored gemstones across all types in the Chinese market increased by 30%-50%, and rare large or relatively scarce colored gemstones saw price increases of 100%-150%. Additionally, prices for rubies, sapphires, and other precious gemstones increased by approximately 30% to 20,000-30,000 yuan per carat, while more common types such as spessartite, aquamarine, and morganite increased by 10%-30%. Moreover, tourmaline and spinel, which have gained more acceptance and popularity among Chinese consumers, also saw increases in demand.
Experts in the Chinese gemstone and jewelry industry suggest that the rapid increase in gemstone prices is not only due to market supply and demand but also reflects changing consumer attitudes. Data from app consumption shows that in 2023, consumers in the gemstone and jewelry market in China, particularly those aged 18-35, represent more than half of the consumer base. Generation Y plays a significant economic role and is a key consumer group in China, following trends in fashion and personal expression. Current trends include vibrant colors, high saturation, and three-dimensional finishes in jewelry, which have become new fashion trends, enhanced by social media's influence promoting bright and distinctive clothing styles.
Economic benefits for Thailand and strategies for adaptation by government, private sector, and Thai entrepreneurs:
In recent years, Chinese consumers have increasingly embraced colored gemstones, especially among younger generations fond of new fashion trends and individuality. This popularity has extended to consumers born after 2000 and after 1990, who have shown a significant increase in consumption of gemstone jewelry priced at approximately 1,000 yuan and above. Considering these factors, the market for colored gemstones in China shows great potential for further growth.
However, while global economies gradually recover, the demand for high-quality and unique jewelry is increasing. If colored gemstone prices rise too quickly, some consumers may delay purchases. Overall, in the future, colored gemstone prices may continue to rise, but consumer consumption may slow down. This is something that entrepreneurs need to keep an eye on.
Therefore, gemstone producers, exporters, and related organizations must pay attention to the gemstone and jewelry market situation in China, as well as continuously study the consumption behavior of new-generation consumers in China. This will enable them to adjust production strategies to align with market demand in the gemstone and jewelry market in China and develop the quality of Thai gemstones, thereby promoting the value-added market of Thai gems and jewelry in the future. Source: DITP @topic:8


Title: Summary of the U.S. Jewelry and Gemstone Market in October 2023 Abstract: Market Value of Jewelry in the United States:
The market value of jewelry in the United States varies according to the data collection methods of each organization. In summary, the market value of jewelry in the United States ranges from approximately 60 to 70 billion USD, which is about 20% of the global market value. The United States ranks as the second largest jewelry market globally, following China and ahead of India, Hong Kong, and Japan, which rank 3rd, 4th, and 5th respectively in global rankings. Estimates indicate that 14.2% of the global jewelry market value is attributed to the United States, and 38.18% of global online jewelry trade is represented by the United States.
Jewelry Market in the United States in 2023:
In the second quarter of 2023, several major jewelry retailers in the United States reported a decrease in sales compared to the same period in the previous year, ranging from 5% to 12%. It is anticipated that the growth of the jewelry market in the United States will begin to slow down towards the end of 2023.
Consumer Spending on Jewelry in the United States:
In 2021, Americans spent an average of approximately $136.33 per person per year on jewelry, while U.S. households spent an average of $434.3 per household per year on jewelry. According to estimates by the Bureau of Economic Analysis (BEA) of the U.S. Department of Commerce, the estimated value of American consumer spending on jewelry in 2022 was $94.38 billion, an increase of 2.81% from 2021. Retail prices for jewelry have increased at an average inflation rate of 2% per year.
Key Trade and Consumption Areas in the United States:
California has approximately 6,486 jewelry businesses. The Los Angeles Jewelry District is the largest jewelry district in the United States, with nearly five thousand jewelry businesses, primarily wholesale. It is also one of the largest diamond trading centers in the United States, often referred to as the Los Angeles Diamond District.
Important Times for Jewelry Trade in the United States:
The peak period for general jewelry trade in the United States is during the holiday season, from November to December. The next busiest period is around Valentine's Day and Mother's Day. For wedding-related jewelry, the peak season is generally from June to August, preceding the period when Americans typically hold weddings, from September to November.
Consumer Profiles for Jewelry in the United States:
According to the latest data from Zippia in 2021:
50.5% of jewelry consumers are female, with the remaining being male.
The majority are White Americans (62.8%), followed by Hispanic and Latino Americans (14.5%) and Asian Americans (11.7%).
The average age is approximately 46 years old. Millennials, on average, spend about $203 per year on jewelry, higher than the overall American average of $157.9 per year.
Other Significant Jewelry Trade Areas in the United States:
New York has approximately 5,444 jewelry businesses, with jewelry districts and diamond districts being the largest trading centers in the world and the United States.
Florida has approximately 4,671 jewelry businesses, with over 400 retail stores in its Jewelry District.
Distribution Channels for Jewelry in the United States:
Most jewelry retail outlets in the United States are specialty stores or brand-focused retail stores. The number of retail jewelry outlets in the United States has shown a continuous decline since 2018, at a rate of approximately 2.4% per year. It is estimated that there were between 45,792 and 61,892 retail jewelry businesses in the United States in 2023, a decrease from 2022 ranging from 2.1% to 2.4%.
Key Jewelry Trade Shows in the United States:
Tucson Gem & Jewelry Show, www.jogsshow.com: Held at the Tucson Expo Center, Tucson, Arizona, this show is a wholesale event open to general consumers for viewing and purchasing. Next scheduled events:
Tucson Winter Gem & Jewelry Show: January 24 - February 4, 2024
Tucson Fall Gem & Jewelry Show: August 29 - September 14, 2024
Jewelry Circular Keystone (JCK) Las Vegas, https://lasvegas.jckonline.com: A jewelry trade show for industry professionals held at The Venetian Expo, Las Vegas, Nevada. Next scheduled event: May 31 - June 3, 2024
International Trade of Jewelry from the United States:
The total import value in 2022 was approximately $98 billion USD, a decrease of 0.23% from 2021. During the first eight months of 2023, the import value was approximately $63 billion USD, a decrease of 7.14% from the same period in 2022.
Imports of jewelry and precious stones in 2022 were approximately $2 billion USD, growing by 16.96%. During the first eight months of 2023, imports from Thailand were $1.1 billion USD, a decrease of 11.58%. Key imported products from Thailand to the United States in 2022 and 2023, ranked by import value (USD million), show that the import of precious stones used in jewelry manufacturing has grown more than the import of finished jewelry. Source: DITP @topic:8


Title: The price of gold in Egypt has surged due to the ongoing conflict in the Gaza Strip Abstract: The escalating conflict between Hamas and Israel, which has intensified, has led to an increase in gold prices in Egypt due to heightened demand for gold as a safe haven amid the tensions in the Middle East. Additionally, global gold prices have also risen significantly. Currently, the price of 21K gold in Egypt stands at 2,210 Egyptian pounds per gram, up from 2,215 Egyptian pounds per gram recently.
HSBC has issued a report forecasting that the Egyptian pound could depreciate by 25% against the US dollar to achieve a rate closer to the parallel market exchange rates. This depreciation may coincide with a potential interest rate hike by the Central Bank of Egypt (CBE) to support foreign exchange and inflation concerns. Moreover, there is an expectation that inflation could touch 40%, marking a historical peak.
HSBC's report comes after Moody's downgraded Egypt's long-term credit rating to Caa1 from B3, indicating a poor debt status and very high credit risk. This downgrade is expected to weaken the Egyptian pound against the US dollar and is a contributing factor to the increased demand for gold.
Egypt's economy has been further impacted by Moody's downgrade, citing persistent foreign currency shortages, particularly the continuous depreciation against the US dollar. This economic turmoil has led to negative reactions in Egypt's debt securities market.
Egypt's foreign exchange reserves have declined by more than $7 billion over the past year, partly due to the Ukraine conflict, which has driven up the prices of consumer goods. The reduced international reserves have made it more difficult for the government to repay its debts. Furthermore, Egypt has devalued the Egyptian pound three times since March 2023, resulting in a depreciation of more than 50%, as part of efforts to improve its trade balance amid conflicts between Ukraine and Russia and in line with IMF loan conditions. Currently, the official exchange rate is around 30-31 Egyptian pounds per US dollar, down from approximately 15 pounds per US dollar at the beginning of last year.
Although the declaration of war by Israel, which shares a border with Egypt, has had limited short-term impact on Egypt, if the conflict escalates significantly and becomes a long-term issue, it could have unavoidable implications for Egypt's stability and economy. This poses increased challenges in addressing Egypt's economic problems.
The situation is being closely monitored by analysts in Cairo, who will continue to report on developments moving forward. Source: DITP @topic:8


Title: Thai Entrepreneurs Shine at Jewellery & Gem World Hong Kong 2024 Abstract: The Office of the Board of Trade of Hong Kong participated in the 40th edition of the Jewellery & Gem World Hong Kong, organized by Informa Markets under the theme "One Fair : Two Venues". This event, the largest of its kind in Hong Kong, attracted 3,417 exhibitors from 44 countries worldwide. Thailand's jewellery and gem businesses were well represented with 326 companies, receiving positive feedback.
The Jewellery & Gem World Hong Kong was held from September 18 to 22, 2566 at the Asia World Expo and from September 20 to 24, 2566 at the Hong Kong Convention & Exhibition Center. It gathered industry professionals from across the globe for networking, idea exchange, forecasts, and industry trends discussions.
Mr. Shervin Farjad, Managing Director of DE SHERVIN CO., LTD., a Thai entrepreneur, expressed confidence that the Bangkok Gems & Jewelry Fair organized by the Department of International Trade Promotion and the Gem and Jewelry Institute of Thailand will continuously elevate its importance compared to the Hong Kong event. Participants in the fair from September 6 to 10, 2566, including booth exhibitors, event attendees, and international buyers, were impressed by venue arrangements, logistics, management systems, security, and the number of international buyers attending, all contributing positively to business outcomes.
Mr. Suthep Pongschai, Director of the Gem and Jewelry Institute of Thailand, attended the event to network with major entrepreneurs and invited them to join the Bangkok Gems & Jewelry Fair, scheduled twice in 2567 at the 69th Sirikit National Convention Center from February 21-25, 2567, and the 70th edition from September 9-13, 2567. There was significant interest from major entrepreneurs who responded positively to participate.
The Hong Kong Office of the Board of Trade commented that Thai jewellery and gem products have been widely accepted by businessmen, buyers, and consumers worldwide for their quality, design, and intricacy, making them Thailand's top export products to Hong Kong. In 2565, exports amounted to USD 1,615.53 million (a 22.05% expansion), and in 2566 (January to July), exports reached USD 1,502.89 million (a 57.46% expansion). Source: DITP @topic:10


Title: French Jewelry Brand Fred Creates High Jewelry Collection from Synthetic Diamonds Abstract: While industry-leading diamond brand De Beers announced the cessation of sales for lab-grown diamond products, jewellery brand Fred under the LVMH group opted to use special blue synthetic diamonds in creating high-end jewellery, marking itself as the first brand to do so. This decision followed advancements in synthetic diamond technology since 2010.
On September 19, Fred unveiled an 8.8-carat blue synthetic diamond, indistinguishable to the naked eye from natural diamonds. This significant diamond will be featured prominently in a newly designed jewellery collection comprising necklaces, rings, and earrings, accentuated with genuine diamonds.
Charles Leung, CEO of Fred, explained that the use of synthetic diamonds stemmed from a specific need within their redesigned jewellery line for diamonds with unique color and size characteristics. Synthetic diamonds were considered the most suitable option, not to capitalize on the trend of lab-grown diamonds in high-end jewellery, but due to successful collaborations with various synthetic diamond manufacturers, culminating in the production of a precisely sized diamond that met their requirements and received certification from the Gemological Institute of America (GIA).
Prior to this, De Beers, a major player in the diamond industry and the world's largest diamond producer, had entered the lab-grown diamond market in 2018 with a $90 million investment over a four-year period. However, on September 13, De Beers announced the complete cessation of all lab-grown diamond sales. This decision was primarily driven by economic challenges in the United States, a test market for lab-grown diamond jewellery, which had a continuous impact on diamond jewellery prices, including lab-grown diamonds.
According to Bain & Company market data for 2020, natural diamond production totaled 111 million carats, while global lab-grown diamond production was only 7 million carats, representing just 10% of global diamond production (up from 3% in 2017).
Meanwhile, mid-range jewellery brands like Pandora decided to incorporate lab-grown diamonds in their jewellery production to promote social and environmental sustainability policies effectively. Olivier Kessler-Gay, Pandora's Managing Director for Western Europe, announced the complete cessation of natural diamond use in their jewellery since two years ago. Previously, Pandora used natural diamonds in just 50,000 pieces out of 105 million pieces produced annually. In August, Pandora introduced three new jewellery collections featuring lab-grown diamonds, exclusively available in the United States and the United Kingdom. Beyond cost savings, using lab-grown diamonds reduces production costs by up to one-third compared to natural diamonds, furthering their sustainability initiatives through the entire production process, including cutting with alternative energy sources.
Every jewellery manufacturer using lab-grown diamonds does not disclose the source of their products, emphasizing their ability to meet both environmental and social needs for sustainable production, from creation to cutting using alternative energy sources. Source: DITP @topic:8


Title: Australian Luxury Brands Continue to Grow Abstract: Before the COVID-19 crisis, the Australian market for luxury jewelry and branded goods was driven by international tourists, particularly from China.
In 2023, the market for luxury jewelry and branded goods in Australia continued to grow, making long queues outside famous brand stores, such as Gucci, Louis Vuitton, and Chanel, a common sight. The growth of the luxury brands market in Australia is valued at USD 5.3 billion, with a growth rate of 5.4% per year from 2018 to 2023 (according to IBISWorld). The increasing demand for luxury jewelry and branded goods has led many renowned brands to plan expansion, such as Chanel, which plans to open a new 1,000-square-meter store in 2024. Louis Vuitton, with several stores including those on George Street, a boutique at The Rocks, a store in Westfield CBD, a stand at David Jones, and stores in Chatswood and Bondi Junction, is also planning to expand further in Parramatta, expected to be a high-growth economic area.
The growth in the luxury jewelry and branded goods market in Australia is partly driven by young consumers with purchasing power (Gen Z), who prefer shopping at standalone stores in economic districts, while tourists prefer buying luxury jewelry and branded goods from stores in shopping malls. This has prompted luxury brand retailers to expand their stores both in major economic streets and shopping malls to cater to these two customer groups, leading to a rise in retail rental prices in CBD areas across various states in Australia. For instance, in Adelaide, South Australia, rental prices increased by 7.4%, and in Brisbane, Queensland, by 7.2%. High-end branded stores place significant importance on their location, such as Martin Place, Westfield Sydney, and currently, areas on King Street and Parramatta are becoming significant economic growth hubs in Sydney, with plans to expand stores with varying sizes.
The changes in the luxury jewelry and branded goods business also include the opening of stores for other sub-branded products, increasing competition in the luxury jewelry and branded goods market in Australia. Source: DITP @topic:8


Title: Lab-Grown Diamonds: A Popular Trend Among Modern Consumers Abstract: The lab-grown diamond market, or LGD, globally in the year 2022 was valued at 23,898.60 million USD. It is expected to grow at an average rate of approximately 8.64% from 2022 to 2028. Lab-grown diamonds are created in laboratories, possessing durability and brilliance similar to natural diamonds but are produced in a shorter timeframe, resulting in relatively lower prices.
The market for lab-grown diamonds has expanded significantly in recent years and gained traction as an alternative to natural diamonds. Factors driving this popularity among new-generation consumers include affordability, environmental friendliness, and ethical considerations. This has propelled lab-grown diamonds into a highly favored category in the current jewelry market.
However, the robust expansion of lab-grown diamonds has directly impacted the market for natural diamonds, leading to clear price adjustments downwards. Data from Tenoris, a market research company, collected over three years in the United States, shows a substantial increase in the sale of lab-grown diamonds, particularly with a notable surge of 22.9% in the first two months of 2022 compared to an 8.5% growth in 2020.
Moreover, based on calculations and trends, lab-grown diamonds are anticipated to constitute up to 50% of the retail diamond market in the United States by May 2025. Major retailers like Signet Jewelers and Pandora have embraced lab-grown diamonds to cater to the preferences of new-generation consumers, leveraging their price competitiveness. Conversely, traditional diamond traders such as De Beers have recognized the growth potential in the lab-grown diamond market and introduced new brands like 'Lightbox' to capitalize on this trend.
Economic slowdowns in the United States have prompted consumers to prioritize price and value in their purchases, influencing the jewelry market significantly. Consumers are increasingly opting for lab-grown diamonds as gifts, especially during occasions like Valentine's Day, due to their affordability and improved quality compared to previous years.
In summary, the lab-grown diamond market's growth has impacted the natural diamond market directly by offering a more affordable and attractive alternative. This shift has prompted significant price adjustments and changes in consumer behavior, fostering new opportunities for Thailand's soft-colored gemstones alongside the growing lab-grown diamond trend. Source: DITP @topic:8


Title: Trends in Israel's Diamond Trade in the First Seven Months of 2023 Abstract: The Diamond Supervisor, under the Ministry of Economy and Industry of Israel, has released a summary report for July 2566, indicating a negative trend in the global diamond industry and specifically in Israel, which has been affected since the conflict in Ukraine. During the first seven months of 2566, diamond trade in Israel remained in decline, with both major categories of products experiencing a reduction in trade value.
The overview of imports and exports during the first seven months of 2566 for rough diamonds (raw and polished) is as follows:
Net imports of rough diamonds to Israel totaled approximately 661 million USD, a decrease of 45% compared to the same period last year. Net imports in July 2566 alone dropped by about 46% compared to July 2565.
Net exports of rough diamonds during the same period totaled about 515 million USD, marking a significant decline of 53% compared to the first seven months of 2565. In July 2566, net exports of rough diamonds decreased by 44% compared to July of the previous year.
Net imports of polished diamonds during the first seven months of the year totaled about 1.57 billion USD, a decrease of 24% compared to the same period in 2565. In July 2566 alone, net imports of polished diamonds decreased by approximately 34% compared to July of the previous year.
Net exports of polished diamonds totaled about 1.9 billion USD, a decrease of 25% compared to the same period in 2565. In July 2566, net exports of polished diamonds decreased by about 31% compared to July of the previous year. Source: DITP @topic:8


Title: Chinese KOLs Boost Online Jewelry Sales Abstract: The Xindou platform, which collects various data from Douyin (TikTok) in China for search, ranking, live streaming, brand gathering, and downloading operations, disclosed a report on the top Key Opinion Leaders (KOLs) on Douyin in July 2023. It revealed that the highest sales in July 2023 came from the top three KOLs in the jewelry category. The first place was held by KOL Xin Jiang He Tian Yu Lao Zheng, and the second place by KOL Xiao Bei Zhu Bao Yan Xuan. Both achieved sales exceeding 5 billion RMB (25,000 million THB), while the third place went to KOL Yun Shang Zhu Bao and the fourth to Dong Fang Zhen Xuan. Dong Fang Zhen Xuan stopped live streaming for five days, causing a drop in popularity to fourth place in July. In contrast, Xin Jiang He Tian Yu Lao Zheng began ranking in the top 10 in February 2023 and climbed to first place, despite having only 1.01 million fans, compared to Dong Fang Zhen Xuan's 30.59 million fans, a difference of 30 times (exchange rate: 1 RMB equals 5 THB).
Currently, China's jewelry market is valued at up to 7 trillion RMB (3.5 trillion THB), with online trading increasing annually. This aligns with statistics from the Gems & Jewelry Trade Association of China, which revealed that in 2022, online jewelry sales reached 2.35 trillion RMB (1.18 trillion THB), expanding by 27% YoY, accounting for 33.33% of total jewelry sales.
The popularity of the jewelry industry on Douyin is supported by both platform promotion and trader initiatives. Interesting content stimulates consumer demand further. Live streaming by KOLs boosts purchasing decisions. Direct-to-Consumer (DTC) live streaming enables immediate pricing and broad consumer access.
Douyin's Chinese platform, which has over 600 million daily users, is beginning to slow down. Therefore, maintaining this user base requires diverse live streaming activities and selecting product categories that enhance platform memorability and stability. Previously, Taobao and Tmall focused on apparel and fashion products, JD.com on digital products, and Pinduoduo on agricultural products. Therefore, Douyin selected other product categories, such as jewelry. Even though jewelry has a high unit price, selling it successfully online can promote the brand and attract more consumers to Douyin. This helps expand consumption to other product categories.
Regarding jewelry consumers, the primary group has relatively high age. However, Douyin users are increasingly middle-aged and older, which is crucial for jewelry businesses. According to QuestMobile, in 2021, Douyin users aged 41 and over accounted for 36.3%, and those aged 51 and over accounted for 18.4%. These consumer groups have strong consumption capabilities and are decisive, making them essential for jewelry businesses on Douyin in China. Recent data up to June 2022 shows that e-commerce jewelry businesses on Douyin in China are valued at up to 1 trillion RMB (5 trillion THB), with an expected online jewelry sales increase of 54% YoY.
Regarding the sales strategy of jewelry via KOL live streaming, factors contributing to the popularity and saleability of high-priced jewelry include the KOL's credibility and communication skills with viewers during live streams. Moreover, setting up the live streaming environment, lighting, and showcasing the product's beauty and quality through the camera are crucial. The number one KOL, Xin Jiang He Tian Yu Lao Zheng, uses a straightforward visual approach, emphasizing continuous close-ups and product-highlighting lighting to explain product strengths. Marketing strategies like urging customers with phrases like "Lowest Price Reduction, Now Only 39.9 RMB, Buy It Now!" attract consumers to make immediate purchase decisions.
Economic impacts on Thailand and adjustments by the government, private sector, and Thai entrepreneurs
In the past, jewelry and gems were considered luxury goods, and they were only sold in specific places, making it difficult for ordinary consumers to access. However, with the growth of the economy, increased income, improved quality of life, and advanced internet development, consumers now have the purchasing power and easy access to consume luxury goods. Combined with the trend of increasing online jewelry sales in China each year, the sale of jewelry is not limited to offline channels as it was in the past. This makes the jewelry market a promising area for Thai jewelry businesses and exporters to expand into China by collaborating with local partners and using social media to build brand awareness for Thai jewelry. Thai entrepreneurs can also apply Chinese KOL live streaming sales formats to online jewelry sales in Thailand by targeting specific consumer groups, marketing, setting appropriate prices, creating live streaming room environments, and interacting honestly with consumers to sustainably capture consumers' hearts in China and Thailand. Source: DITP @topic:8


Title: The India International Jewellery Show has boosted jewelry sales to unprecedented levels. Abstract: The Gem & Jewellery Export Promotion Council (GJEPC) under the Ministry of Commerce of India announced that the 39th edition of the India International Jewellery Show (IIJS) Premiere 2023, held from August 3-7 last year, generated approximately 300 billion Baht in revenue. The event saw participation from 1,850 exhibitors worldwide and attracted over 50,000 visitors, including 2,100 international attendees from 65 countries. The exhibition took place simultaneously at two venues in Mumbai: the Jio World Convention Centre and the Bombay Exhibition Centre.
Market trends in the Indian jewellery sector indicate sustained demand for traditional natural diamonds, with an increasing preference for lab-grown diamonds (LGD) as components in jewellery, alongside pearls and colored gemstones. This trend aims to cater to both the domestic Indian market, especially appealing to environmentally conscious younger generations, and export markets like Europe and the United States, which have shown increased imports from India.
Additional insights and comments:
Thailand's competitive potential in the Indian market, particularly in sustainable silver jewellery, has been solidified by rising consumer expenditure, notably during the peak wedding season at the beginning of each year. Thailand holds a consistent 70% market share in India, competing with countries like the United States, China, Italy, Hong Kong, UAE, and Turkey. Noteworthy competitors include Singapore, Hong Kong, UAE, and Australia, which have increased their imports into India following the signing of the FTA with India in 2021.
Thai exporters may leverage strengths in using natural pearls, synthetic diamonds (Lab-grown Diamonds), and silver jewellery, meeting the preferences of young working professionals and higher-income individuals. Additionally, they could allocate funds to produce other fashion items such as brooches, buckles (accessories), scarves, and handbags. India, unlike Thailand, lacks expertise in integrating silver threads into textiles (woven silver textile). Cities more open to silver jewellery than others include Kolkata, Chennai, and Hyderabad in eastern and southern India. Source: DITP @topic:8


Title: Exploring the market direction of pearls and jewelry in Australia. Abstract: The jewellery market in Australia has been adversely affected by challenging economic conditions, including inflation and rising living costs. This has prompted Australian consumers to be cautious with their spending, significantly reducing expenditures on non-essential goods and services, particularly jewellery and accessories.
Most jewellery retailers in Australia are concentrated in densely populated areas with high foot traffic, primarily in the states of New South Wales, Victoria, and Queensland, which together account for more than three-quarters of the country's population.
Key factors influencing the jewellery business include international tourism, consumer confidence, and household income. Sydney stands out as a crucial city for jewellery businesses due to its ability to attract a large number of international tourists, particularly affluent ones, thereby supporting continuous business expansion.
The majority of players in the jewellery market (over 60%) are small-scale operators, such as sole proprietors and family-owned boutique stores, focusing on niche customer groups and the local market. They emphasize ethical jewellery and gender-neutral options. In contrast, major players, constituting less than 40%, prioritize tracking market trends to adapt business operations and product designs continually to meet consumer demands. For instance, current trends among Australian couples highlight a preference for less expensive engagement and wedding rings, influenced by changes in lifestyle due to the COVID-19 pandemic, which reduced social gatherings and large events.
Looking forward, the Fine Jewellery market segment remains crucial due to its consistent high pricing and timeless diversity. Operators in this segment place importance on monitoring market trends to ensure their business operations and product designs remain contemporary, meeting consumer needs. The Fashion Jewellery segment, particularly popular for items like gold-style minimalist earrings and pearls, remains highly favored due to its affordability and versatility, appealing to users aged 15-54, who can select based on fashion and personal taste. This segment primarily sells through online channels, alongside physical stores.
Overall, the Australian jewellery market, encompassing both Fine Jewellery and Fashion Jewellery segments, proves sensitive to various factors influencing consumer purchasing decisions. Success in this market requires stakeholders, including manufacturers, designers, and sellers, to carefully consider consumer sentiment and economic/social changes as critical variables for achieving business success and revenue generation. Source: DITP @topic:8


Title: "The image of men wearing pearl necklaces" is beginning to change as a product for women. Abstract: Currently, there is a trend among young men to wear makeup and pearl necklaces more frequently. These products, traditionally associated with women, are becoming more gender-neutral due to societal acceptance of diversity. This shift allows individuals to express themselves freely without adhering strictly to gender norms. For instance, a 27-year-old man who purchased a pearl necklace six months ago was initially uninterested in jewelry but became intrigued after seeing male celebrities wearing them on social media. This change in perception has altered the market image of pearl necklaces, once perceived as exclusively for women, now accessible for men as a fashion choice.
The pearl necklace was purchased from 'enwsp,' a jewelry retailer under WSP Co., Ltd. In 2023, online sales of pearl jewelry to male consumers tripled compared to the previous year, prompting companies to expand their offerings to men, such as larger-sized necklaces and black pearls. Notably, K.MIKIMOTO & CO., LTD., a major Japanese jewelry company, began selling pearl products for men in collaboration with fashion brand COMME des GARCONS in February 2023. They featured male models in suits adorned with pearls, further popularizing the trend.
Moreover, market research by Hakuhodo Inc. indicates that the preferences of women and men are converging, leading to increased sales of products traditionally targeted at women to men. Loft, a lifestyle and daily goods retailer, reported a 50% increase in sales of men's skincare products in 2023 compared to the previous year, and tripled sales compared to pre-COVID-19 levels in 2022. Products like eye makeup removers and lip products, typically favored by female customers, have also seen increased interest from male consumers.
This evolving consumer behavior is reshaping economic opportunities in Thailand and beyond, as Japanese society increasingly embraces gender diversity. This cultural shift allows people to express their preferences more openly, creating commercial opportunities for new products catering to evolving consumer demands, such as men's cosmetics and jewelry. Thailand, known for its openness to gender diversity, can leverage this cultural strength to export various products globally, driven in part by the popularity of Thai dramas, which have a significant following in Japan, enhancing Thailand's soft power and marketability of Thai products in the Japanese market. Source: DITP @topic:10


Title: The diamond industry of Israel. Abstract: Diamonds are classified as jewelry and precious gems, which are crucial commodities in trade between Thailand and Israel, ranking high in both exports and imports over the past several years. In the year 2565-2566 (Jan-May), Thailand imported these commodities predominantly from Israel, totaling 5,081 million baht, a 67% increase from 2564. Similarly, in 2566 (Jan-May), imports amounted to 2,289 million baht, marking a 29% increase from the same period.
Exports are equally significant. Jewelry and gems ranked second in Thailand's exports during 2565-2566 (Jan-May), with exports to Israel totaling 2,854 million baht in 2565, a 26% increase from 2564. In 2566 (Jan-May), exports reached 1,083 million baht, a 20% rise from the corresponding period.
Israel's diamond industry plays a crucial role in its economy, dating back nearly a century, well before the establishment of the State of Israel in 1948. It is noteworthy as a major source of income for the country and a leading export industry. Israel is known as the world's largest exporter of polished diamonds and a significant hub for raw diamond trade, generating substantial income and creating jobs for its citizens. This has had a profound positive impact on related sectors such as finance, high-tech diamond cutting technology, transportation, security systems, and banking services, all of which have seen significant development alongside the diamond industry.
Israel's diamond industry is characterized by its long and fascinating history, starting almost a hundred years ago, well before the establishment of the state of Israel in 1948. It is intriguing because it has been a major source of the country's significant income value, being one of Israel's leading export industries. Israel Diamond Exchange, the largest and most important diamond trading center globally, has been dubbed the 'World's Diamond Merchants'. It is one of the top five diamond exporters in the world, alongside India, the United States, Hong Kong, and Belgium. The prominence of India and the United States is unsurprising, given their large populations and abundant resources, and Belgium is well known as the capital of long-standing diamond trade. Hong Kong is known for its role as a trade representative of China and is a key port city. But for Israel, "Israel" is just a small country that does not even have its own diamond mine, but why has this country been able to export so many diamonds, because of the advantage points that have promoted the industry, with advanced diamond cutting and polishing technology that makes it possible to buy sell merchandise customs Source: DITP @topic:8


Title: In-depth report on the jewelry and accessories market in the Philippines. Abstract: Overview of the Jewelry and Gem Industry in the Philippines
The Philippines is a country rich in natural resources, with abundant deposits of gold, silver, and valuable gemstones, as well as renowned South Sea pearl sources. The Philippine jewelry and gem industry is known for its long history and skilled craftsmen in design and production. Additionally, the Philippines is one of the top 20 gold producers in the world, with 70% of its gold coming from artisanal and small-scale gold mining (ASGM), an industry flourishing in the Philippines, employing approximately 500,000 miners across over 40 provinces out of 81. In recent years, the jewelry and gem industry has seen significant growth, with a considerable increase in the number of manufacturers, stores, retailers, and designers who sell and promote their products through digital platforms or a mix of online and offline stores.
Jewelry and gems have been an integral part of Filipino life for a long time, dating back to before the Philippines became a Spanish colony. Jewelry was used to enhance beauty and served as a symbol of social status, marriage, membership in groups, religious faith, rituals, and beliefs in healing, which are still evident today. However, gems and jewelry have only recently become associated with fashion and modernity after the American colonial period up to the present day.
The Philippines is home to primary mineral deposits, including gold, iron, zinc, chromite, copper, and minor reserves of silver, nickel, iron, cadmium, and manganese. Additionally, there are other significant valuable minerals such as:
1. **Garnet** - A gemstone available in various colors, predominantly red and orange, with a minor presence of green. The color of garnet is the most significant price-determining factor.
2. **Opal** - Noted for its play of color, displaying all the colors of the rainbow. The color play and transparency of opal are crucial market price determinants.
3. **Jade** - The most popular green gemstone, also available in colors like orange, blue, yellow, red, and white.
4. **Jasper** - Available in both opaque and patterned forms, mainly red (Bloodstone jasper), with other colors like green, yellow, and various patterns such as orbicular and poppy. The clarity of color and pattern is a significant price-determining factor.
5. **Tektite** - A glass-like stone originating from meteorite debris. Its value depends on size, translucency, color, and cutting quality, with light-colored and translucent tektites being more valuable.
6. **Epidote** - Available in colors ranging from green, yellow, gray, to black. High-value epidotes are characterized by transparency, large size, unusual colors, or unique mineral cutting features.
The Philippine jewelry and gem industry can be divided into two main segments:
1. **Fine Jewelry**, accounting for about 25% of all jewelry and gem sales. The Philippine Gem Development Law (RA 8502) defines fine jewelry as:
   - Personal adornments made of precious metals such as stones, pearls, or their combinations (e.g., rings, bracelets, necklaces, brooches, earrings, watch bands, pendants, tie clips, cufflinks, combs, hairpins, religious coins or other coins, and insignias).
   - Items made of precious metals, which may or may not include gemstone, for personal use (e.g., wallets, handbags, or items for personal use like cigarette boxes, powder cases, and storage boxes).
Fine jewelry in the Philippines uses precious metals and stones, with gold and silver being the most used metals and diamonds and other colored gemstones being the most used stones. The majority of fine jewelry in the market includes rings, necklaces, bracelets, earrings, and tie pins.
The Fine Jewelry market in the Philippines can be divided into three main segments: high-end, medium-range, and low-end. High-end products are made from the finest raw materials, with exquisite craftsmanship and design, making high-end consumers less price-sensitive. In contrast, medium-range and low-end markets are more price-sensitive and consider buying gems and jewelry as an investment.2. **Costume Jewelry**, categorized as fashion jewelry by the Department of Trade and Industry, often reflects changing consumer preferences over time. The costume jewelry industry mainly relies on domestic raw materials, with significant sources in Samar, Leyte, Bohol, and Panay. Other components of costume jewelry are usually imported through agents or wholesalers, such as connectors and plastic beads.
Costume jewelry raw materials are divided into processed, semi-processed, and unprocessed:
- **Unprocessed** materials include natural shells, wood, bones, or stones.
- **Semi-processed** materials are those that have undergone some processing and are partly prepared for final products, such as painting, molding, or dyeing.
- **Processed** materials are ready for assembly, such as beads, chains, metal components, and packaging materials.
Processed materials are most commonly used in the costume jewelry industry. The production process in the Philippines is mostly a blend of machinery and craftsmanship, often producing custom orders or for local market sales only. Medium and large companies engaged in export business are relatively few. Meycauayan City in Bulacan is a major gem-producing area, but the industry there has declined, and there is no encouragement for younger generations to continue the gem crafting profession.
Most Filipino gem and jewelry businesses operate as small household enterprises, known locally as “Mom and Pop” or “Micro Enterprises,” typically managed by 1-2 individuals, often husband and wife. Consequently, these businesses are mostly outside the formal system and located in specific areas known for gem sales, such as Greenhills and Binondo. Filipino gem and jewelry producers often employ various sales strategies, combining direct sales, store sales, and agent systems, but most do not actively promote their products directly.
Regarding spending behavior on gems and jewelry, Filipino women are more likely to purchase than men, with different motives: men buy gems and jewelry as gifts, while women primarily buy for personal use. Additionally, high-income Filipino consumers tend to view gems as personal preferences and often buy from trusted or well-known sellers, whether independent shops or larger chains, with independent stores typically offering a broader variety and additional products. Source: DITP @topic:10


Title: Pandora jewelry brand expands its Personalized Jewelry service, using France as a model market. Abstract: Pandora, a renowned jewelry brand from Denmark, has the highest sales volume of jewelry in the world, up to 103 million pieces annually. This growth is a result of expanding into the Personalized Jewelry market, where customers can customize jewelry pieces such as bracelets and necklaces with engravings or various designs, following successful trials in France. The starting price for these services is as low as 10 euros per piece. Currently, Pandora operates 40 stores in France out of a total of 132 worldwide.
In 2022, Pandora's global jewelry sales amounted to 3.6 billion euros. The United States leads with 30% of total sales from 417 stores. Europe follows with 25%, dominated by the United Kingdom, Italy, Germany, and France. The Chinese market is still developing. Pandora designs its jewelry in Denmark and manufactures primarily in Thailand.
Alexander Lacik, Pandora's CEO, noted continuous sales growth over the past two years, with Q1 2023 sales surpassing expectations at 787 million euros. Despite previous sales challenges since 2017, the COVID-19 situation boosted online sales channels, now accounting for 21% of total sales.
Olivier Kessler-Gay, Managing Director of Pandora Western Europe, highlighted three strengths: appropriate pricing strategies, product diversity with frequent new collections, and high brand loyalty. Pandora's iconic product, the silver Charms bracelet, which accounts for 70% of sales, is priced between 50 and 100 euros.
Pandora operates 2,542 stores globally, owning 1,653 directly and franchising the rest. In France, there are 125 stores (with four new ones added in late 2022), expected to increase by eight more by late 2023, including locations in Noisy-le-Grand, Belle Epine near Paris, and Toulouse in southern France. After COVID-19, Pandora plans to manage more than half of its existing 43 franchise stores in France directly.
Despite challenges in France and Thailand's jewelry industry due to COVID-19, Pandora's online sales growth has been consistent and beneficial, particularly in expanding to new customer segments with reasonably priced jewelry. This market approach serves as a good example for Thai entrepreneurs aiming to export jewelry brands to France, potentially through fashion and jewelry exhibitions like Who’s Next, Bijorcha, or Maison et Objets, considering strict French regulations on precious metal jewelry imports. Source: DITP @topic:8


Title: Israel saw a decline in diamond sales in April 2023. Abstract: In April 2566, the diamond trade in Israel showed a downward trend, reflecting the global diamond industry's ongoing decline, exacerbated by the fallout from the conflict in Ukraine. The first quarter of the year saw negative trends in Israel's diamond sector, with all four categories of rough diamonds decreasing. This was revealed in the first study for 2566 released by the Supervisor of Diamonds at the Ministry of Economy and Industry in Israel.
Overall, net imports of rough diamonds to Israel totaled $400 million, a decrease of 35% compared to the same period last year. In April 2566 alone, imports decreased by 7% compared to April 2565. Net exports of rough diamonds during the same period totaled approximately $351 million, marking a 45% decrease from the third quarter of 2565 and a 25% decrease from April 2565.
Net imports of polished diamonds in the first quarter amounted to $885 million, down 23% compared to the third quarter of 2565, with April 2566 showing a 22% decrease from April of the previous year. Meanwhile, net exports of polished diamonds, totaling approximately $976 million, decreased by 44% compared to the third quarter of 2565, and by 69% in April 2566 compared to April of the previous year.
In April 2566, net exports of rough diamonds to the United Arab Emirates amounted to around $17 million, accounting for 20% of Israel's total rough diamond exports for that month. During this period, approximately $9 million worth of rough diamonds were imported from the United Arab Emirates to Israel, constituting 8% of all rough diamonds imported to Israel in April 2566.
Mr. Ofir Gur, Head of the Diamond Department at the Ministry of Economy and Industry, stated, 'The continued downward trend in the global diamond trade can be observed from current study data. However, we expect a positive turnaround in the mid-year export figures due to improved sales in the Chinese market.'
Comments/Recommendations:
The diamond industry is a major contributor to Israel's revenue from diamond exports. The expertise in diamond cutting technology and craftsmanship in jewelry production are notable strengths. Gems and jewelry, including diamonds, are among the top five export commodities to Israel. Despite significant setbacks during Covid-19, recovery efforts are underway, yet global economic conditions remain challenging, affecting the vibrant sales of diamonds. Source: DITP @topic:8


Title: The luxury market and products with potential that Thailand responds to. Abstract: In India, there are approximately 150,000 High Net Worth Individuals (HNWIs), individuals with assets exceeding $30 million USD, ranking third globally after the United States and China. This number has increased elevenfold over the past decade. A study by Credit Suisse indicates that the number of HNWIs with assets over $100 million USD in India is expected to double in the next three years. Euromonitor International's market research center estimates strong growth trends for products catering to this group, driven by the expanding economy and emerging cities in India. This presents opportunities for high-quality and luxurious products such as cars, fashion apparel, jewelry, skincare products, and alcoholic beverages. The total value of these goods is projected to increase from 2.08 trillion INR in 2566 to 2.2 trillion INR in 2567.
Despite global economic slowdowns, consumers in this group continue to maintain purchasing power. In 2565, following the COVID-19 pandemic, sales of luxury cars in India reached approximately 38,000 units, a 50% increase from the previous year. In the first quarter of 2566, about 9,500 luxury cars were sold, marking a 10% increase from the same period in the previous year, with Mercedes-Benz showing the highest sales increase.
According to Knight Frank's Wealth Report 2023, half of this group is inclined to collect unique artworks for both home and office decoration and investment purposes. Additionally, there is a trend towards purchasing luxury items such as handbags, eyewear, watches, and wines. This aligns with India Sotheby’s International Realty's Luxury Outlook Survey 2023 and The American Express survey, which found that 90% of high-income Indians seek specialized health services tailored to their interests and are interested in traveling to new and exclusive destinations. There is also a preference for participating in culinary activities during travel, such as cooking classes and food festivals. Regarding communication channels for service offerings, 48% of the sample group tends to receive information from online media platforms like Instagram and Facebook, as well as from television programs and movies such as 'Emily in Paris' and 'Game of Thrones'. Moreover, there is a trend towards acquiring vacation homes in both India and abroad.
Additional Information and Comments:
Thai products with unique designs and manufacturing are already well-received in India and can meet the demands of high-income individuals, especially in the fashion and lifestyle categories. This can be enhanced by increasing access to this consumer group through collaborative activities with influential figures in online media, trade associations, airlines, sports clubs, hotels, hospitals, and participation in exhibitions in department stores with high-end brands, catering to the needs of affluent customers, especially in major cities such as Mumbai, Ahmedabad, Surat, and Goa. Source: DITP @topic:8


Title: Jewelry sales tend to expand during the Mother's Day to August (Shikago) festival season. Abstract: The article discusses the economic outlook and consumer behavior trends in the United States leading up to Mother's Day. Despite ongoing economic challenges such as inflation and a slowing job market, consumer spending during this holiday season is expected to remain robust. Retailers are gearing up with special promotions to attract consumers looking to purchase gifts to express their love and appreciation for mothers.
Key findings from the National Retail Federation's survey indicate that American consumers plan to spend approximately $4 billion more on Mother's Day gifts this year compared to the previous year. This increase reflects a growing trend in consumer sentiment towards spending on gifts. The most popular categories for gifts include jewelry, electronics, and clothing, with jewelry being the top-selling category.
Furthermore, the data highlights that consumers are increasingly interested in subscription boxes and experiential gifts as alternatives. There is also a significant emphasis on personalized and unique gifts that create special memories for recipients.
For Thai entrepreneurs and exporters, the Mother's Day season in the US presents a strategic opportunity to capitalize on these consumer trends. Key products such as jewelry, decorative items, and customized gifts tailored to the occasion are particularly sought after. The US remains a critical market for Thai exports in these categories, with potential for further growth, especially if products align with consumer preferences for vibrant colors and personalized items.
In conclusion, while economic conditions in the US remain uncertain, consumer spending for occasions like Mother's Day continues to drive economic activity. Thai businesses looking to export to the US should leverage these insights to develop and market products that appeal to American consumers during these festive seasons. Source: DITP @topic:8


Title: Delve into the jewelry and accessories market in China. Abstract: Consumers in tier 1 and tier 3/4 cities exhibit notable differences in their preferences. The ratio of purchasing gold and diamonds remains highest in tier 1 cities. Meanwhile, consumers in tier 3/4 cities also show significant demand for both gold and diamonds, though slightly less than tier 1. Over the past 2-3 years, tier 1 consumers have shown an increasing preference for high-end products, opting for diamonds and platinum more frequently. In contrast, tier 3/4 consumers continue to favor gold.

Furthermore, when segmented by jewelry type, Chinese consumers show varying preferences:
Gold: Due to economic development and innovation in pearl and jewelry production, designs and craftsmanship of gold have become more modern and attractive. Chinese consumers favor pure gold, such as 24K, pure gold 9, and 99.99, which are highly popular. In 2565, total gold consumption reached 1,001.74 tons.
Diamonds: Majority of Chinese consumers purchase diamonds for significant occasions like weddings or as gifts.
Jade: Jade holds greater cultural and symbolic value than gold. Chinese consumers often collect jade as heirlooms that can be passed down through generations.
Colored Gemstones: Popular colored gemstones include sapphires, emeralds, rubies, amethysts, and topaz. These are commonly used in earrings, necklaces, and rings, often combined with other materials like silver and diamonds.
Silver: Silver jewelry is more affordable and popular among Chinese consumers, often combined with colored gemstones to enhance aesthetic appeal.
Manufacturing of pearls and jewelry in China is concentrated in major regions like Guangdong, Beijing, Shanghai, and Hong Kong. Notably, Shenzhen, Guangzhou, and Dongguan are prominent for their renowned jewelry businesses, with Shenzhen alone hosting 21 reputable companies.
White Gold Jewelry: Africa is the largest producer of white gold globally, with China relying significantly on imports. Despite being less valuable than gold, white gold jewelry is preferred for its aesthetic appeal.
Diamond Production: China is a major global producer of diamonds, cultivating a significant portion domestically. In 2565, diamond production in China totaled 82,000 million carats. Chinese consumers are also major importers of rough diamonds, sourcing from various countries such as South Africa, Russia, Japan, Germany, and Belgium.
Jade Varieties: Different types of jade originate from various regions, including Hetian jade from Xinjiang (white, lavender, and Jasper green), Lanshan jade from Sichuan (white and green with traces of blue), Tushan jade from Shanxi (purple, black, blue, green, red, and mixed colors), and Xiuyan jade from Liaoning (sea-green and dark green).
Market Value: The jewelry market in China was valued at 720 billion yuan in 2564, marking an 18% increase from 2563. By 2565, it further increased to 800 billion yuan, an 11.11% rise from the previous year. Local brands like Lao Feng Xiang, Chow Sang Sang, and Chow Tai Fook are renowned for gold jewelry, while luxury brands like BVLGARI and Tiffany dominate the high-end market."
This translation provides a comprehensive overview of the jewelry consumption patterns and market dynamics in China across different tiers of cities and various types of jewelry. Source: DITP @topic:10