China is one of the most important and active jewelry consumption markets in the world and the consumption of many jewelry products are ranked high in the world. Especially in recent years, the total sales volume of China’s jewelry industry has an annual growth rate of more than 15% and export growth rate of more than 20%. In 2007, China’s jewelry industry achieved a total sales volume of more than 1,700 billion yuan with 8.024 billion U.S.dollars exports.
Though as the traditional industry in China, pearl industry still takes a low proportion in China’s jewelry industry. According to statistics, in 2007, the total sales volume of China’s pearl market was 3 billion yuan. However, the prospect of pearl market is very broad and the potential is huge. This is mainly decided by factors as follows:
1. The purchasing power of residents has become stronger and there is huge market potential. China has a total population of 1.3 billion and the number of rich people is become larger and larger and the purchasing power of consumers continued to increase. The traditional loyal consumer groups of pearl jewelry are ladies among 30-40 years old and their consumption is primarily aimed at top and middle grade pearls. However, by present according to statistics, only less than 10% of females in this age have owned pearl jewelry which means that there is tremendous room for China’s pearl market to grow. Once this part of the market has been developed out, the market demand especially the demand for top and middle grade pearls will double. Besides, we have also discovered that more and more young ladies begin to have interest in pearl jewelry.
2. Enterprises begin to attach importance to the development of domestic market. China’s pearl industry in many years mainly focuses more on export rather than the development of domestic market and the nurture of consumers. Merchant is basically dependent on the traditional emotional foundation for pearls and the natural path to market for sale. Now inspired by the great success of other jewelry products which take advantage of strong marketing strategy, many merchants have already turned to domestic pearl market with sharp sense of market change. Because compared with other jewelry products, pearl market is still a territory which has not been yet fully opened. At present, compared to other jewelry products, the pearl sales outlets is slightly less, which is one of the main reasons which restricts potential market to turn into real market. Many merchants are increasing outlets and enlarging the area of the outlets and the pearl industry is integrating internal resources to enhance the promotion of pearl jewelry.
3. The standard pearl sample will be developed and introduced in the industry and the consumer confidence will be ensured. The forthcoming standard pearl sample makes detailed rules on pearl quality in aspects like the size, gloss and round degree so as to provide more security grantee for the quality of China’s pearl products to enhance the consumer confidence. The research and development of the standard pearl sample will help to upgrade our country’s pearl products and increase the quality of pearl products. It will also help with the classification and contrast of international pearl products and increase the economic value of China’s pearl.
4. Pearl has a profound cultural background and a better basis for consumption. Pearl is a kind of jewelry with typical oriental characteristic and charm. China’s pearls are gentle and beautiful with delicate texture and soft luster and welcomed by a lot of consumers. In consumers’ mind, pearls represent the beauty of oriental women and are a synonym of noble, elegant, subtle and a symbol of the great maternal love. The unique culture connotation of pearl makes it has a strong suitability and helps the people who wear it to show their noble and elegant quality. As a result, pearl industry as a traditional industry has a profound cultural consumption basis in China. As long as we can fully tap the traditional culture connotation of pearls while increasing its fashion and ensuring the quality of design and processing, the loyal consumer base will expand and the market potential will be fully realized.
5. Enterprises enhance their design and processing ability and increase the number of their quality products to meet the needs of consumers from deferent social levels. At present, the deep-processing ability of domestic pearl products and the quality of the products have been greatly improved. The proportion of high-class pearls is increasing to meet the needs of consumers from deferent social levels. All this will help the healthy development and expand of the pearl market.
According to the development trend of China’s economy and jewelry industry, it is predicted that the total annul sales volume of China’s jewelry will exceed 200 billion. If the proportion of pearl jewelry can reach 5%, there should be a 10-billion market scale. Nevertheless, compared with jade, gold and diamond, pearls’ proportion is only 1/3 of them. We think that as long as enhance the promotion of pearl products and pearl culture, the internal tremendous consumption ability will come to realize.
