Chinese consumers are keen on purchasing coloured gemstones in the near future, reflecting strong business potential for the gemstone sector, according to a recent study by Gemfields.
The report, titled Sustainability: The Future of Coloured Gemstones in China, showed that 35 per cent of respondents plan to buy rubies while 25 per cent wish to acquire emeralds in the near future.
Based on extensive research, the findings shed light on buyer preferences and behaviours spanning China’s vast demographics and geographies. Conducted between November and December 2019, it included focus groups and one-on-one interviews in Beijing, Shanghai and Chengdu, and involved an online survey of 805 participants across a number of Tier 1 and 2 cities.
All participants were main "jewellery purchase decision-makers" and at least slightly active in terms of day-to-day environmental and/or social activities.
Results of the study further revealed that Chinese buyers are placing a premium on sustainable and responsibly sourced gemstones, with 97 per cent of those surveyed saying they are willing to invest heavily in ethically mined gems. Younger consumers, or those aged 21 to 38, consider it somewhere between “slightly” and “very” important that a brand acts environmentally and socially responsible.
The report also said 92 per cent of buyers consider clarity as the most important factor when buying gems followed by carat (85 per cent), colour (83 per cent) and cut (82 per cent).
Chinese consumers are also partial to “character and certification,” and understanding of these two additional factors could further boost the appeal and popularity of coloured gemstones.
Emily Dungey, marketing and communications director of Gemfields, commented, “The research also indicated that an overwhelming number of consumers are specifically seeking coloured gemstones set in more contemporary jewellery designs, as well as advice on how to style coloured gems with their look. Therefore, I see an opportunity to increase the popularity of coloured gemstones by focusing marketing efforts on modern design concepts and creative, personalised styling.”