Gems and jewellery refers to a variety of jewels made of gold, platinum, gemstones, and other materials. Gems and jewellery are one of the fastest-growing markets, as they have cultural significance in many civilizations throughout the world. Several major corporations are planning to invest in marketing, advertising, and the opening of new showrooms in order to increase their visibility and market share.
For example, during the pandemic, a major operator like
Pandora had to close about a third of its outlets in China as its business in
the country came to a halt. Hong Kong, China, and its tourists account for
around 10% of the company's annual sales. However, if the limitations are
relaxed, the market is expected to return to normal.
With the rise of urbanisation, consumer behaviour in the
area of accessories has shifted, from wearing more pieces of jewellery to
keeping it simple and elegant while preserving the style statement. As a result
of these changing variables, single-stoned stud earrings, pendants, and rings
are in high demand.
Market Trends to Watch
Due to the growing middle class, there is a high demand for
diamonds.
The growing number of middle-income consumers in developing
countries, as well as their greater spending power and changing fashion trends,
are driving up demand for excellent costume Gems and Jewelry Market throughout
the region. The diamond industry, like the gold industry, has high prospects
for demand, owing to the massive emerging middle class in Latin American
countries.
Market Players
Chow Tai Fook (Holdings) Limited, Compagnie Financière
Richemont, Jewelry Group, Signet Jewelers, Emperor Watch & Jewelery Ltd.,
Blue Nile, Zale Titan, Gitanjali Group, Tiffany & Company, and others are
major players in the global gems and jewellery business.
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