Original title: analysis on the Market Competition pattern and Development trend of China's Jewelry Industry in 2020 Source: forward-looking Industrial Research Institute

At present, China's jewelry market is mainly foreign brands, Hong Kong-funded brands and mainland brands compete with each other, the high-end market is monopolized by international jewelry giants with brand advantages, and the competition between Hong Kong-funded brands and mainland brands in the middle market is fierce. Continue to expand their market share.

The competition in China's jewelry industry is fierce.

At present, China's jewelry industry is in the stage of rapid development and industry integration, with several shifts of market share in the hands of major brand manufacturers, and the market competition is fierce. In terms of the number of competitors, Hong Kong brands and foreign brands have blossomed and competed with each other in the Chinese mainland market. With the improvement of national consumption capacity and exuberant demand, there are more jewelry enterprises, and keep increasing. The market concentration of the whole industry is high, and large manufacturers occupy the main market share.

Gemstones (diamonds, emeralds, gemstones, etc.) as the raw materials of the jewelry industry are rare resources, upstream resource owners or monopolists have a strong say, and hard currency prices such as gold are open, and jewelers do not have the ability to negotiate. Upstream bargaining power is low. Because most of the jewelry consumption is emotional consumption, the sensitivity to price is low, so because of the market demand, jewelry enterprises have general bargaining power downstream. The threat of potential entrants to the existing enterprises in the jewelry industry is weak, the attractiveness of the jewelry industry is general, and there are high barriers to entry. The existing enterprises squeeze the potential entrants by virtue of their market advantages. From the perspective of the threat of substitutes, the categories of products in the jewelry industry are basically the same, and the homogeneity is relatively high. the living space of small brands and small enterprises is getting smaller and smaller, which will be replaced or eliminated. In the end, domestic jewelry is the end of a small number of oligarchs.

Foreign brands, Hong Kong-funded brands and mainland jewelry brands show a tripartite pattern.

At present, China's jewelry has a clear level of high, medium and low market, and has obvious brand advantages. The high-end market is mainly monopolized by some big international brands. Competition in the mid-market is fierce, Hong Kong brands are in the lead, and mainland brands are now expanding to increase their market share. The low-end market is mainly based on brands sold on the Internet.

Among international jewelry brands, Cartier, Tiffany&Co and Swarovski have a higher market share in the Chinese mainland market than other international brands. Among them, Cartier has the highest market share, with Chinese mainland having a 1 per cent market share in 2019. Tiffany and Swarovski are equal by 0.5%.

Among mainland and Hong Kong-funded brands, Chow Tai Fook Jewellery's market share in the mainland market has been leading, and Chow Tai Fook Jewellery's market share in 2014 wasLao FengxiangCatch up; in 2015, Chow Tai Fook Jewellery returned to the number one position in the industry and maintained it until 2019.

Competition focus and trend of Jewelry Brands

In the future, the competition of jewelry enterprises in China will focus on industrial chain, product design, brand building and sales channels. Enterprises with a complete industrial chain will get bigger in the reshuffle process.

At present, there are few enterprises with a complete industrial chain integrating R & D, design, production and sales. The art design and craftsmanship of jewelry are more and more valued by consumers, and the ability of product design has become the core competitiveness for jewelry enterprises to gain market share.

The construction of brand is becoming more and more important, with the improvement of consumers' requirements for quality, jewelry products produced and sold by enterprises with high awareness and brand reputation are becoming more and more favored at the present stage when consumption upgrading drives the growth of the industry. brand advantage plays an important role in expanding customer groups and market influence and increasing customer loyalty.

Since the intervention of e-commerce in jewelry sales, the pace of development of online jewelry sellers is very fast. Seizing the development opportunity of e-commerce is one of the focuses for jewelry brands to enhance their competitiveness.

For more data, please refer to the forward-looking Industrial Research Institute's "China Jewelry Industry Business Model and Investment opportunity Analysis report". At the same time, the forward-looking Industrial Research Institute also provides industrial big data, industrial planning, industrial declaration, industrial park planning, industrial investment and other solutions.

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