Report: Post-Pandemic Jewellery Market Outgrows All Other Goods
A report recently released by Guangzhou Diamond Exchange and quoted by Rough & Polished shows that China’s jewellery market “grew faster than all overall social consumer goods post-pandemic period”.
The report states that, post-pandemic in 2020, the retail sales of gold, silver and jewellery products “by enterprises above designated size” has shown year-on-year growth since July, peaking at 25% in November, reaching 25.8 billion yuan – “a record high for November in the past six years”. In addition, sales in the fourth quarter exceeded that in the same period in 2018.
The report also marks that most jewellery stores in China that shut down in the first quarter due to the pandemic, re-opened in the second quarter. The report concludes: “Jewellery stores in the mainland, as well as in Hong Kong and Macau saw an extraordinary performance […]”.