China Jewelry Market Report 2023: Insights, Trends & Key Players — A Focus on Recovery, Fastest-Growing Brands, Luxury Hair Accessories Surge, and Evolving Consumer Preferences

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Highlights of China Jewelry Report 2023:

In H1 2023, the fashion jewelry market contracted by -22% to 4.7 billion RMB compared to 2020. Post-pandemic, luckily we are seeing a slow recovery of 1% growth compared to 2022. Chinese firms showed resilience, while international brands bore the brunt of the downturn.

Monica Vinader, Emporio Armani, Lola Rose, Agatha, and Gucci are among the fastest-growing international brands in 2023. Monica Vinader’s beads series has grown 9 times this year.

Luxury hair accessories have grown 66% YoY, a strong trend lead by brands like Alexandres De Paris, She’s, YVMIN, Parada, Miumiu, and Chanel.

The widening gender income gap may affect women’s purchasing power, and the decline in feminist terminology in the jewelry sector suggests the need for renewed marketing efforts to appeal to women buyers. Instead of “powerful” and “independent”, consumers’ moods are swinging towards other trends such as self-care, jewelry with healing-effect, Dopamine dressing, and New China Styles.

Gifting trends have shifted, with fewer people buying jewelry for relationship purposes and a rise in purchases for mothers and babies, indicating a shift towards familial and sentimental motivations.