The annual IGI market trend report will come again on the occasion of the New Year. Following the successful launch of last year's research report, IGI has once again expanded its information gathering population to cover jewellery practitioners, consumers, teachers and students, and other relevant people inside and outside the industry. This report will summarize and comb the views of people from outside the industry on the jewelry industry in 2019 from the perspective of “peopleâ€. It is hoped that readers can combine other existing market analysis reports to have a more comprehensive judgment on the jewelry market in 2019.
Market overall confidence and gem market update
Key information
Economic environment is turbulent, affecting the jewelry industry
1. Industry confidence is growing slowly, but there are concerns
2. Industry confidence support is mainly focused on “preservation†and “just-need†characteristics
3. Investment in jewellery operations tends to be conservative, and investment in jewellery products is expected to strengthen
The expected market performance of various gemstones has changed steadily
1. The performance of the diamond market is expected to decline slightly, and the performance of the three major gemstone markets remains the status quo.
2. Scarcity is once again the main reason for the increase in gemstone value
Synthetic diamond acceptance increases
Industry confidence is growing slowly, but there are concerns
China's economy continued to slow down in 2018. The National Bureau of Statistics recently lowered its GDP forecast for 2019 and added external uncertainties such as Sino-US trade friction. Under such a macro environment, the Chinese jewelry industry expects market confidence in 2019. Will it be negative as well?
In the IGI's survey of market confidence, the data in 2019 was 2018 year-on-year, and market confidence did fall back, but it was not as negative as the external forecast. 67.77% of the population defined 2019 as “slow growth†and overall confidence remained within the confidence range of conservative growth.
In the survey, IGI conducted a follow-up investigation on the reasons why market confidence can be maintained. Factors affecting the confidence of jewellery practitioners are mainly reflected in the following aspects:
The three main reasons are:
1) Economic situation
2) Stable value
3) Love and marriage needs
The uncertainty of the economic situation has caused practitioners to have concerns about the future and to reduce the overall confidence in 2019. The long-term value of jewelry and the need for marriage and love have given jewelers confidence in the future. Because both Chinese and foreign, gemstones and gold have always been a symbol of "value preservation" of stable value. Jewelry is still a “just-needed†product for marriage in the millennial generation. The demand for marriage and love ensures that the jewelry industry has a stable source of customers even when the economic situation is not good. The “preservation†and “just-need†characteristics of the consumer side are providing a strong support for the confidence expectations of the jewelry industry.
In the survey of the expected investment in industry funds in 2019, we also found the phenomenon associated with it. The following is a comparison of the expected investment in funds between 2018 and 2019:
Comparing the investment expectations for 2018 and 2019, it can be seen that most of the investment in jewellery operations has declined to some extent, reflecting that practitioners are more cautious in their operations in the new economic environment. Only two of the inputs have been strengthened, including “inventory inventory†and “jewelry collectionâ€. Both of these are investment items related to jewelry products.
Based on the aggregated data, the practitioners' market confidence in 2019 has declined, but there is still hope for the future market. Behavioral expectations are expected to be conservative about investments in jewelry operations. With the expectation of investment in jewellery products strengthened, it is believed that the “preservation†and “just-needed†characteristics will maintain the slow rise of the jewelry industry in 2019.
The performance of the diamond market is expected to decline slightly.
In the case of the overall economic turmoil, what is the expectation of the gem? First, 34.27% of the practitioners expect that the first market growth in 2019 is expected to be colored gems.
Compared with 2019, the growth of diamonds is expected to be slightly lower, while colored gemstones (mainly the three major gemstones) maintain the status quo, and the overall expectation is still among the best in diamonds and colored gemstones.
Jewelry practitioners believe that the gemstone with a large increase in gem price in 2019 is emerald. The top three gems are: 1) emerald, 2) ruby, 3) sapphire
In response to the above survey, participants believe that the reasons for the rise in the value of these gems are:
1) rare, 2) beautiful, 3) high promotion
Respondents believe that “the gems that make purchasers feel rare will be more reassuring for their long-term value.†Scarcity is once again the main reason for the increase in gemstone value.
Synthetic diamond acceptance increases
The “Clone Brothers†synthetic diamonds of natural diamonds have shown a different trend this year. In last year's statistics, the market acceptance of synthetic diamonds was still very conservative, and this year there have been significant changes.
It can be seen that last year's survey, jewelry practitioners held a "not acceptable" attitude towards most synthetic diamonds. This year's "acceptance" (36%) and "not accept" (40.5%) are almost on par. Jewelry practitioners are increasingly accepting synthetic diamonds.
In the IGI survey, some of China's synthetic diamond factories indicated that in the second half of 2018, orders for jewellery-grade synthetic diamonds increased significantly, but they still dominated exports. Practitioners believe that the retail market in the Chinese market will not have a large number of synthetic diamond jewelry in the short term. But with the relaxation of acceptance, perhaps synthetic diamonds will not be too far away from us.
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