The jewelry market was affected by the epidemic and its scale declined.
From 20 14 to 20 19, the sales revenue of China's jewelry industry showed an increasing trend, but the overall growth rate was slow, reaching 707.3 billion yuan in 20 19, a year-on-year increase of 1%. In 2020, affected by the epidemic, China's jewelry consumption demand dropped sharply, and the sales scale was only 610 billion yuan, down 14.0% year-on-year.
The gold jewelry market performed well.
China's gold culture has come down in one continuous line for thousands of years, and gold has been a symbol of power and wealth since ancient times. In 2020, under the influence of the COVID-19 epidemic, the global economy was hit, and the price of gold as a hard currency kept rising, so did the performance of the gold jewelry market, accounting for 55.7% of the total domestic jewelry sales, reaching 339.8 billion yuan.
Judging from the consumption structure of the gold market, the consumption proportion of gold jewelry is also the highest. The actual consumption of gold in China in 2020 is 820.98 tons, which is lower than that in 20 19 18. 13%. Among them, 490.58 tons of gold jewelry; 246.59 tons of gold bars and coins; Industrial and other 83.8 1 ton. When the epidemic broke out in early 2020, the production, processing and retail of gold jewelry and gold bars were greatly affected. Gold consumption in the first quarter decreased by 48.20% year-on-year. With the improvement of domestic epidemic situation and sustained economic recovery, gold consumption has steadily increased, accounting for 59.76% of the total gold consumption in 2020.
The market share of ordinary gold jewelry is over half.
According to the classification of processing technology, gold jewelry can be divided into four categories: ordinary gold, ancient gold, 3D/5D gold and 5G gold, with different product characteristics.
In 2020, due to the rising price of gold, the market share of physical stores shifted to online, and gold jewelry began to develop in the direction of "small" and "light". The market feedback of hard gold products such as 5G gold and 3D/5D gold is good, because more exquisite and stereoscopic products can be made with less weight. In 2020, the sales will reach 16% and 17% of the total sales of gold jewelry respectively, but the main market is still occupied by ordinary gold jewelry, with a market share of 5 1%.
To sum up, although the size of the jewelry market will be reduced due to the COVID-19 epidemic in 2020, the performance of the gold jewelry market is still good. From the perspective of China's jewelry retail structure and gold consumption structure, gold jewelry accounts for more than half. Specific to the type of technology, while processing technologies such as 5G and 3D/5D are becoming more and more popular, the share of ordinary gold in the gold jewelry market still exceeds half. On the whole, the gold jewelry market will benefit from the hard currency attribute of gold and the traditional gold culture in China, and it will always be the most important market segment in China's jewelry industry in a short time.
—— The above data refer to the Forecast and Analysis Report on Consumer Demand and Market Competitive Investment of China's Jewelry Industry by Prospective Industry Research Institute.