Diamond jewelry has represented the highest luxury jewelry for a long time due to the high price and the rareness of diamonds. Thanks to the successful slogan “A diamond is forever” by De Beers, diamond jewelry entered the Chinese jewelry market as a wedding ring with huge success. By 2022, diamond jewelry has already taken a huge market share in the luxury industry, not only in women’s jewelry but also in men’s jewelry.
What is the reason behind the success of diamond jewelry in China? How come the successful use of diamonds in men’s jewelry in China? How to enter the Chinese jewelry market? Hopefully, you will find your answer in this article. The Chinese jewelry market scale is huge, and more jewelry brands are entering the market to get their slice of the cake.
The Chinese Diamond Jewelry Industry in 2022
Although the diamond jewelry industry was stroke by the Covid which led to a huge decrease in the market value of diamond jewelry in China by 24%, this large market still reaches 7 billion USD in 2020. Before that, the market value was higher and stable. The major shift was not only a revenue change but also a systemic change. Today, the demand for bigger and higher quality diamonds increased, as the profile of the customer base shifted towards more affluent consumers and the share of important occasions increased. The result? An increased carat weight on average and a 30% price increase for diamond jewelry acquisitions in China.
The Impact of De Beers with the Slogan “A diamond is forever”
Even De Beers themselves might never imagine how strong the influence of its slogan is when it is translated into Chinese and hit the Chinese customers. The translation in Chinese is “钻石恒久远，一颗永流传”, delivering the message that a diamond can be kept for a long time and have its value maintained. This fits the Chinese customers’ preference so much because when Chinese customers spend a lot on a product, they would like its value to be kept for years even decades. They do not only consider jewelry as a purchase but as an investment.
In the meantime, the advertising of De Beers brought the idea to Chinese consumers that a diamond ring is a must for a wedding. Since that campaign, Chinese brides and husbands are “losing face” if they do not offer diamonds to each other.
Diamond Certificates Admitted in China
Diamond certificates are vital for diamond jewelry in China due to the high number of counterfeits and diamond imitations, from synthetic cubic zirconia to moissanite. Normal customers do not have the knowledge and skill to identify if the diamond is a real one which makes it essential to have a diamond certificate from trusted organizations.
The most common certificates are the diamond certificate from GIA (Gemological Institute Of America), NGTC (National Gemstone Testing Centre), and GIC(The Gemological Institute of China). Among them, the GIA certificate is seen as the best one and usually the more expensive one because it is the most famous one. The certificate of HRD (HRD Antwerp) is also a very professional one, but unfortunately, it is not so widely acknowledged in China. You can still find it from some brands, but some time is not accepted by customers who do not know about it.
Millennial and Gen Z Customers are Buying More Diamond Jewelry in China
Millennials and Gen Z are the majority of the customer of diamond jewelry because they are at the age of marriage and they are willing to try new things. According to a report by Statista, Millennials account for 22.37% of the Chinese population while Gen Z accounts for 16.95%.
The Successful Use of Diamonds in Men’s Jewelry in China
Diamond is getting used in more and more products, no matter they are luxury watch, small accessory, or side stones on jewelry, diamond does not necessarily need to be the main stone of jewelry.
Usually, men’s jewelry tends to use materials like gold, silver, and platinum as the only material. Even those jewelry with gemstones, people are more likely to use colored stones like sapphire, ruby, or jade (especially for Chinese customers).
However, this phenomenon has changed in the Chinese market. With the booming growth of Gen Z and Millennials, male customers are willing to try diamond jewelry with a higher willingness as long as the design is good. The hip-hop trend in recent years also brings a demand for shining jewelry like diamond jewelry for both men and women who want to follow the trend.
Custom-made Diamond Jewelry is Taking the Market Share
In 2022, Chinese customers are more willing to have some unique preferences in their jewelry from design to the pick of stone. They are no longer satisfied with the brand or person who made diamond rings since there will always be something that does not fit their need perfectly. Hence, custom-made diamond jewelry became the new trend.
The custom-made jewelry is usually done in 2 ways:
- The customer is selecting a stone and a design from a renowned jewelry brand to get it at a better price and custom-made
- The customer is asking for a special design that is incorporating unique symbols or colors that is only used by the couple itself
Set up your official account on Wechat
To do branding for men’s diamond jewelry, setting up your official account and a support team on WeChat is very helpful. Since the target is Millennials and Gen Z with almost 100% of the WeChat use rate, doing branding on WeChat can help you gain more audience in China. Also, providing sales support on WeChat can make your service more efficient and convenient which highly increases the shopping experience.
How to make the best out of WeChat marketing for your brand?
- Set up an official account on WeChat
- Create an e-brochure HTML5 to show your diamond jewelry collection
- Share regular updates about your manufacturing and products
- Propose pre-sales service and customer care in Chinese to help customers purchase their item
- Provide after-sales services through private messages and private calls
Contact us for your jewelry brand
Trusted by lots of brands worldwide from Garrard to Jaubalet, GMA is an expert in marketing and branding in China. Having the experience of 10 years, we can help you master various marketing tools including WeChat, Baidu and Little Red Book.
Have a China project but don’t know how to manage it? Contact us for a first consulting!