The new money for diamond companies is coming! But first you have to understand women and divorce rates first.

Diamonds are long-lasting, and one is forever.
This is a slogan that almost subverts the traditional Chinese marriage concept, and makes this carbon crystal a universal symbol of wealth and love.
As a result, everyone began to be instilled with the idea that diamonds are not a tradable commodity gem, but an integral part of courtship and marriage. Of course, you can enjoy the typical cases of diamonds being visualized by love in the advertisements of major diamond brands in previous years: flowers, lovers, romance, marriage. No one can be less.

However, the rise of a huge young consumer group is making the meaning of this classic slogan quietly change.
They are young (mostly after 84) and advocate economic independence and are influenced by Western culture; they prefer diamonds and other jewelry than gold and silver and jade.
In September of this year, a consumer report from De Beers, the world's largest diamond producer, gave two surprising numbers:
In 2015, in the world's four major diamond markets, the 18-34-year-old female group created sales of up to $22 billion, and its purchasing power far exceeds that of other age groups.
In China, the world's most populous country, the 18- to 34-year-old female consumer group contributed 68% of sales to the Chinese diamond retail market, creating a market value of $6.7 billion.
It is clear that this young group of up to 220 million people is still far from the richest stage of their lives. This means that for the Chinese diamond retail industry, a major development opportunity is gestating in the next 10 years.
Now, perhaps the meaning of this classic ad word has become: When love and happiness have gone, "independence and strength" is eternal, and diamonds will always be with you.

Jewelry preferences of young Chinese women
The 25-year-old Li Ji (pseudonym) is the most consistent interview with Bloomberg's girls in the image of China's new generation of diamond consumers: young, single, and economically independent.
As an administrative assistant to a Shanghai company, she has “collected” 15 diamond ornaments. Among them, a ring, a pair of pendant earrings and a necklace are the gifts she bought for herself.
It’s not long before the graduation of the single girl has always insisted that diamonds are a kind of jewelry that can express themselves:
“We don’t have to wait for the men to send us a diamond. The diamond itself is a natural way of revealing itself. Moreover, collecting diamonds is an excellent way to invest compared to other fashion items. Not only can it be added, but it can be passed down from generation to generation."
Express yourself, fashion and independence. This is obviously not the traditional implication of the diamonds given by the producers, but it is equated by the young women with the diamond culture.
Just as diamond retailer De Beers spent nearly 10 years in the process of getting the Chinese public to accept this carbon crystal, influenced by Western culture, lifestyle and a large number of marketing activities, the first diamond to be captured should be The heart of the younger generation in China.
Like Li Ji, just mentioned, she graduated from Business English, she is very familiar with foreign jewelry brands, and Harry Winston and Tiffany & Co are Li Ji's two favorite brands.
In contrast, she said her mother loves gold and jade jewelry.
In the impression of many people, gold should be the jewel material that older generations admire. The jokes circulating on the Internet - "Aunt Loves Gold" is from the "Wall Street Short Gold" event in 2013, but the preference of domestic middle-aged and old women for gold and silver jewelry is a well-documented fact.
According to the "2016 Gold Jewelry Consumer Report" released by China Jewelry Network in September this year, although young people have become potential users of gold jewelry, Chinese women aged 30 to 49 are still the main consumers of consumption, and their sales contributed to the market. The amount is over 60%.
Obviously, in the choice of jewelry materials, the "preference gap" between different generations is gradually taking shape.
For Li Ji’s “consumer portrait”, Joan, the director of media planning at JWT, who has done consumer surveys for many diamond jewelers, explained:
“Although the way consumers get diamonds and the intention to buy may be diversified, for many girls in China after 85 or even 90, diamonds are more like a fashion mark than a 'permanent love'. ”
In order to make the portrait of this emerging consumer group more clear, 36-inch reporters also visited several fashion jewelry brand chains in several large shopping malls in Beijing Haidian and Fengtai District. Some of the answers from the clerk and the consumption of Bloomberg The survey is more consistent (with some discrepancies):
Most of the consumers who buy diamond jewelry are women (including women accompanied by male friends), aged between 25 and 30 (a few also have men, mainly for female friends).
Depending on the type of diamond jewelry, consumers have different purchasing intentions. For example, most of the diamond rings are purchased by women (with a partner); but if you buy diamonds such as necklaces, bracelets or earrings, most of them are worn by yourself.
Now, this obvious trend is changing the famous domestic jewelry brands such as Chow Tai Fook (Hong Kong), Lao Fengxiang (Shanghai), and the diamond design concepts and marketing methods of global jewelry giants such as Catier and Pandora.

Jewelers’ “waiting for opportunities”:
As the top jewellery chain brand in China, Hong Kong-listed company Chow Tai Fook has a market share of 5.7% in the Chinese market. Since buying the Boston diamond manufacturer Hearts on Fire for $150 million in 2014, Chow Tai Fook's diamond product line has been enriched.
Zheng Zhigang, executive director of the company, said in an interview with foreign media that what the company needs to do most is to make the diamond jewelry more practical and fashionable in design (such as the conceptual fusion of gold and diamond jewelry: gold Diamond-studded, quickly enter the young consumer group through innovative design:
“After 85, consumers account for about half of our customers. Therefore, we will add new young product lines by the end of 2017.”
Of course, Chow Tai Fook is so "deliberate" to please young Chinese consumers, naturally there is another purpose.
Affected by China's economic slowdown and anti-corruption work after 2014, China's luxury goods market has also entered a cold winter. When the streets of Hong Kong's luxury shops are becoming more and more popular, this Hong Kong jewellery store with more than 2,000 jewellery and designer watches is the first to bear the brunt.
According to its financial report, Chow Tai Fook's turnover in FY2016 fell by 12% to HK$56.6 billion, and its net profit suffered a cliff-like plunge – a 46% year-on-year decline to a minimum of HK$2.94 billion since 2010.
Therefore, in the face of a weak market, Chow Tai Fook realized that it is necessary to find another viable profit path from this new trend. Of course, another Chinese jeweler who is still in the same market, but still strong, has seen this trend.
The silver building “Lao Fengxiang” controlled by the Shanghai government has more than 3,000 stores in China, with a market share of 5.4%. Wang Ensheng, the marketing manager, also said that it is the next thing that Lao Fengxiang will do to cater to the tastes of these young consumers.
But what's interesting is that he saw Lao Fengxiang's product promotion strategy from the group's preferences - "price" and "design":
“Girls definitely like to pursue fashion. They like to change different clothes every day, definitely with different jewels. Therefore, we need to give them more special and personalized choices. It must not be too expensive! Because of the amount they buy There will be a lot of things (to take clothes), definitely not one can satisfy."
Now, this "young female middle class" is actually listed as a potential target user of Luk Fook Jewellery Group. Huang Lanshi, executive director of Luk Fook Group, has publicly stated that this jewellery company with a market share of 0.7% has opened 1400 stores in mainland China for 26 years. It has already added manicure services to some of its stores and is also hiring more handsome people. The young male concierge comes to attract female clients.
At the same time, 36-inch reporters also sniffed from some fashion jewellery chain stores in Beijing to some marketing strategies that were similar to the above jewelers:
The design of these fashion jewelry stores is basically based on white, simple and comfortable, modern design is the layout of these stores.
According to a shopkeeper in the I Do store in Fengtai District, the white is easy to reminiscent of a wedding dress. The warm colors and cute and fashionable product design are more attractive to couples and young women:
“In order to attract young consumers, our diamond jewelry will also keep up with entertainment trends. For example, this year we also cooperated with Stephen Chow’s movie “Mermaid” to launch a fish-shaped diamond necklace. At the time, many female customers were asked.”
The manager of a Love&Love store in Haidian District told 36 æ°ª that the price of diamond jewelry in the store ranged from 3,000 to 100,000+, but the consumption expectation of young women would not exceed 7,000 yuan (more than 7,000 yuan is very rare, basically only look Not buying).
“The sales of diamonds from 4000 to 6000 are better. If you are not buying a ring, many women around the age of 30 are willing to buy some diamond stud earrings or pendant necklaces, but the carats are not large and the price will not be particularly high.”

Jewelry marketing trend of “going to love”
JWT's advertising agency used a year to interview 4,300 post-85 women (millennials) in nine countries, and then compiled a female group survey based on their responses.
Among them, “independence” is the most recognized trait of the post-85 female group; more than 2/5 of the respondents believe that economic independence is more important than marriage, and more than 32% of respondents have been confirmed to enjoy economic independence.
In fact, this important cognition has long been discovered by international jewellery giants, and the consumer image of “new age women” has rapidly changed the advertising marketing strategy of diamond products. For example, this has been vividly reflected in the advertisements of international jewelry giant Cartier.
As early as 10 months ago, Cartier launched a "Intelligent Woman Series" diamond advertisement called "Woman's Best Friend". This short film does not talk about happiness, not about marriage, and does not talk about love. Whether it's a short film narration or a supermodel Karen Elson's gorgeous and eye-catching image, it is a theme:
"When you are not in the red, men are leaving you, only diamonds are with you."
In this advertisement, there is no "long-lasting" love and marriage. Instead, it may be the quality of women who are independent and optimistic in the new era.
In addition, Pandora A/S, another world-renowned diamond brand, acknowledges that the company's marketing approach is slowly moving away from the “love-centered” theme and moving closer to the topic of “independent new women”. In addition, Pandora also expanded its 43 stores in China to 81 this year.
Isadora Mann, vice president of marketing for Pandora, announced at a jewelry conference that in the future of Pandora, viewers will no longer see a couple appear in the same picture:
“This is actually a premeditated decision. We want to expand the range of users that the brand can attract. If the jeweler still shows the affection of the couple in the advertisement, it is an outdated plan.”
Although the word "outdated" is overstated, Pandora does make a smart choice.

"Divorce rate" may also help
A social survey report jointly launched by HSBC Global Research Analyst Lina Yan, Karen Choi and Erwan Rambourg in October. This report tells us the fact that the declining population of Hong Kong has drastically reduced the frequency of “happy events” for locals, and this phenomenon has made the development prospects of Hong Kong jewellery companies even more uncertain.
Moreover, this status quo will not change in a short time. According to this group of analysts, with the continued decline in the female population of Hong Kong after 85, the marriage rate in Hong Kong will fall by 1% in the next two years.
At the same time, the marriage rate in mainland China has not only declined sharply (2015 has been the second consecutive year of decline, down 6.3% year-on-year), and the domestic divorce rate has continued to rise.
According to data released by the Chinese Ministry of Civil Affairs in July this year, in 2015, more than 3.84 million couples chose to divorce, up 5.6% year-on-year. At present, 2.8 out of every 1,000 people in the country are divorced, up 0.9% from the 2002 divorce rate.
On the surface, this may not be a positive market signal for the diamond retail industry, which is always advertised as “the eternal witness of love”. But in fact, behind this is a development opportunity that "seeking a balance between love and independence."
For the relationship between marriage and jewelry, JWT's analysts gave an interesting metaphor:
“Actually, the existence of many companies is based on the marriage system, such as diamond jewelry companies, it will be a little bit more difficult now. But in fact, many companies are caught in a misunderstanding – marketing strategies always revolve around ' Marriage must be as long as a diamond.
But once a marriage is no longer considered an eternal, what should a jeweler do?
The truth is that the words are not kind: the high divorce rate in China may help the diamond retail industry.
Because De Beers conducted a consumer survey in the United States, he found some interesting phenomena: Americans bought a diamond ring for 20% more than the first marriage.
Therefore, jewelers have no reason not to believe that the sales performance of China's second wedding diamond ring may have the same trend as the United States. In this way, their chances seem to be one more.
Therefore, when diamonds lose the symbol of love, the Chinese jewelry retail industry has ushered in a new life of regaining "eternal".

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