Shifting perceptions, changing relationship dynamics and e-commerce are the main factors contributing to this clear evolution among young Chinese consumers.
Mabel Wong McCormick, director of the Diamond Producers Association (DPA) in China, claims that the Chinese – especially those born after 1995 (Gen Z) – buy more diamond jewellery than before. According to an interview McCormick gave to China Daily, quoted by IDEX Online, the increased consumption of diamond jewellery in China is the result of “a changing relationship dynamic, a changing perception of femininity and the rapid introduction of e-commerce channels“.
McCormick said: “Comprehensive symbolism for diamond jewellery that indicate a wider range of ‘moments’ in life will give rise to more discretionary purchases, especially among the Generation Z of the country, being people born after 1995. Diamonds are increasingly being purchased to celebrate occasions such as bringing in a new job, securing a promotion or other personal achievements in a broader sense“.
McCormick mentioned several characteristics among Chinese consumers of jewellery: First, in addition to marriage (the traditional opportunity for giving a diamond gift), there is “a new perception of personal significance emerging that is closely linked to joy, trust and pride in themselves, especially among women“. Second, Chinese consumers “look at tangible qualities rather than the brand itself when placing orders for jewellery“. And thirdly, “Chinese consumers often go online in search of information about the different dimensions of the stones before they fit it several times in physical stores“.