GEMSTONE INFORMATION

As the younger generation of consumers gradually matures and becomes the main group in the consumer market, whether the product positioning and brand tone meet the personalized needs of this group has become a core factor in stimulating consumer willingness.

Market research shows that the consumption scenario of diamond jewelry is shifting from a single item driven by marriage to a dual item driven by "marriage+self satisfaction", especially with a significant increase in the willingness to reward oneself.

In addition, the wearing scenes of diamond jewelry have also undergone certain changes. Friend gatherings, weekend leisure, and commuting to work have become important diamond jewelry wearing scenes besides formal occasions, all of which stem from the increasingly strong psychological needs of the new generation of consumer groups to "showcase oneself and express individuality".

Looking back over the past decade, many diamond jewelry manufacturers and brands have invested a lot of energy and capital in product updates, process innovation, and customer service, especially in customer cultivation and guidance.

However, in the face of changing consumer and wearing scenarios today, we need to have a deeper understanding of customer personality, more efficiently explore customer needs, more accurately touch customer psychology, and provide more accurate product solutions in order to find breakthroughs in difficulties and opportunities in the market. Faced with the sluggish inlay market, Chow Tai Fook launched the "T MARK" diamond gold combination series in July 2022, and achieved an average selling price higher than other jewelry inlay products.

Cultivate changes in the diamond market

In 2012, the National Inspection and Quarantine Group of Jewelry, Jade and Jewelry first detected the colorless chemical vapor deposition (CVD) method for cultivating diamonds, which officially entered the vision of jewelry colleagues. In 2014, the High Temperature High Pressure (HPHT) method produced small white cultivated diamonds and put them on the market.

Today, after more than a decade of development, cultivating diamonds has become a part of the global diamond industry, and the mentality of jewelry practitioners has gradually been accepted and viewed rationally. At present, consumers have formed a certain understanding of natural diamonds and cultivated diamonds, and have developed different consumption positioning.

Since 2020, self cultivating diamond brands such as Little White Light and Super Diamond have been emerging. At the same time, jewelry listed companies such as Yu Garden Garden, Mankaron, Chaohongji, and China Gold have also arranged and cultivated diamond racetracks to create and cultivate diamond brands through self establishment, cooperation and co construction.

To sum up, as an important category in the domestic jewelry retail market, diamonds, despite some difficulties, will still be one of the important choices for consumers to buy jewelry products with its profound cultural heritage, standardized industry standards and mature Price system.

In the future, with the implementation of China's 14th Five Year Plan and the long-term goal of 2035, the living standards of the people will experience a qualitative improvement. As long as jewelry colleagues from all walks of life adhere to market orientation, customer-centric, and innovation as the foundation, and formulate development strategies that comply with market laws, diamonds, as an important carrier to meet the needs of people's better lives, will definitely usher in a new round of development opportunities.