As household incomes have been rising and living standards have improved, jewelry purchases have increased rapidly over the past five years. Consumption volumes for gold jewelry, China's most popular jewelry category, increased from 985.9 tons in 2015 to 1001.7 tons in 2022, growing by an annualized 0.2% over the period. Over the five years through 2023, total revenue for the Jewelry Stores industry in China is expected to grow at an annualized 6.5% to reach $159.2 billion, including an anticipated 14.7% increase in the current year. China has become the largest consumer of gemstone, jade, platinum and gold jewelry in the world, and the second-largest consumer of diamond jewelry after the United States. Profit margins have rising to 11.1% of industry revenue in 2023.Jewelry price levels fluctuated greatly in recent years, due to a strong US dollar trend and decreasing demand for luxury goods. There are close to 29,386 jewelry retailing enterprises operating approximately 127,334 stores in the industry, employing approximately 628,141 people. Jewelry retailing is highly fragmented and dominant jewelry retailers are yet to emerge.Since per capita jewelry consumption in China far exceeds that of other economies and the world average the industry's growth potential is substantial. Over the next five years, industry revenue is forecast to increase at an annualized 8.0%, to reach $233.8 billion in 2028. More jewelry retailers will adopt franchise-store expansion strategies to move into second- and third-tier cities. Large-scale jewelry retailers, like Chow Tai Fook, Chow Sang Sang and Eurostar, are projected to become increasingly competitive, which will be more conducive to the development of global jewelry brands.

In 2024, the annual revenue of Chow Tai Seng amounted to approximately 13.9 billion yuan. The figure has seen a significant drop in 2024, decreasing by around 14.7 percent from the previous year.

The Mail-Order and Online Shopping industry's revenue is expected to grow by a CAGR of 16.9% over the five years through 2023, to total of $2.4 trillion. This includes a revenue increase of 16.2% in the current year. Factors driving industry growth include improved living standards, rising wages, higher internet penetration, increased acceptance of internet shopping, and a growing range of retailers selling a larger range of products online.Online retailing currently generates over 95.0% of industry revenue. According to the China Internet Network Information Center (CNNIC) and the National Bureau of Statistics, 845.0 million internet users in China had online shopping experiences as of December 2022. In 2022, the internet penetration rate in China reached 75.6%. The proportion of internet users that have purchased products online has risen from 48.9% in 2014 to 79.6% in 2022. The online retailing segment of this industry is forecast to continue expanding, gaining market share from the mail-order and telephone-order segments.Industry revenue is forecast to grow at an annualized rate of 14.5% over the next five years to $4.7 trillion in 2028. Improved ease of shopping online and the growing range of products available will drive this growth. Greater government assistance and strengthened regulations will also support the industry's development in the next five years. However, the industry is expected to experience competition from other industries, such as online secondhand trading (e.g., eBay) and online retailing by existing retailers and manufacturers.

In 2024, gold for jewelry fabrication accounted for ******* metric tons of the overall gold demand worldwide. Global gold demand for central banks that year amounted to about half that amount, at ***** metric tons. Gold demand worldwide Global gold demand for jewelry amounted to a decade-low volume of ***** metric tons in 2020. It increased in subsequent years to over ***** metric tons annually, which is within the average range of gold demand for jewelry that was witnessed during the past decade. That accounted for a ** percent share of the global gold demand. Jewelry fabrication was the largest demand sector for gold worldwide in each year over the past decade except for 2020, when gold demand for investments was the largest. China, the world's leading gold consuming nation, consumed ******* metric tons in 2022. Following typical global patterns, Chinese gold consumption was primarily for jewelry, consuming ****** metric tons of the country’s total gold consumption in 2022. Gold market factors The average price of gold has risen significantly over the last decades. In 1984, the price of gold was at ****** U.S. dollars per troy ounce and reached a record ******** U.S. dollars per troy ounce in 2024. About ***** metric tons of gold was produced in mines globally in 2024. China produced the majority of the global share of gold, mining *** metric tons in 2024. As China becomes a larger player in the gold industry, the gold market has started to shift eastwards as the regions there become more influential. Due to this movement, the strength of the U.S. dollar has also become less important in the fluctuations in gold prices. The United States nevertheless still holds the world’s largest reserves of gold, totaling ******** metric tons in 2024.

This statistic shows the value of the personal luxury goods market worldwide from 1996 to 2024. In 2024, the value of the personal luxury goods market worldwide was estimated to be 363 billion euros. Luxury goods industryThe global luxury goods industry, which includes drinks, fashion, cosmetics, fragrances, watches, jewelry, luggage and handbags, has been on an upward climb for many years. Although the technical term 'luxury good' is independent of the goods' quality, they are generally considered to be goods at the highest end of the market in terms of quality and price. Luxury goods manufacturers meet consumer demand by focusing on brand, aesthetics, quality materials, superior craftsmanship and pricing to transform everyday objects into status symbols. The industry rises and falls with the gross domestic product (GDP), seeing demand climb in times of economic stability and plummeting in unfavorable economic climates. Most valuable luxury brandsLouis Vuitton was the most valuable luxury brand in the world, with a brand value of about 130 billion U.S. dollars in 2024. The LVMH Group's total revenue for the 2024 fiscal year was about 85 billion euros.New markets and segments are giving the industry growth points. One challenge for luxury companies is to maintain brand equity and cultivate their customer relationships. As luxury expands into more industries, expect a more mature segmented market. As a result, consumers should also become more rational.

Gucci is one of the most iconic and well-known luxury personal goods brands in the world. The company operates all over the world. As of 2024, 33 percent of the Gucci’s revenues were generated in the Asia-Pacific market. How did Gucci’s product line develop? Gucci was founded in Florence, Italy in 1921. The company started out as a leather goods manufacturer, dealing primarily in the sale of leather bags to people travelling on horseback. As methods of transport changed, so too did Gucci’s product offering. The company started making luxury luggage and later added ties, shoes, and handbags to its product line. Gucci products turned into status symbols as many famous people started wearing them. Nowadays, Gucci offers a range of different luxury fashion products, with half of the brand’s worldwide revenue coming from the sale of leather goods. Shoes, ready-to-wear apparel, watches, and jewelry are the other main product categories of Gucci, however they also sell other products such as perfume and home décor. Gucci: an iconic fashion label Gucci is one of the most valuable luxury good brands in the world. The company has changed ownership on a few occasions and is now part of the Kering Group. Gucci is the most well-known luxury fashion brand in the United States.