Watches & Jewelry

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Our Expertise

We have collaborated with luxury jewelry brands and independent watchmakers to work on their market study, focus group, trends analysis, branding strategies, and marketing activations.

We help your brand understand the local consumer and make the most out of the market potential. Today, Chinese consumers want to invest in watches and jewelry for future generations:

  • Forecasted revenue of $17 billion USD for watches in 2023
  • Forecasted revenue of $52 billion USD for jewelry in 2023
  • Average YoY growth rate of 7% by 2030

Key Insights

Market Data

The worldwide watches and jewelry market experienced a small decline in China. For watches, most revenue was generated by luxury brands with long-term value. For jewelry, most revenue was generated by brands proposing gold, diamonds, and with long history.

Sales Channels

Chinese consumers purchase both online and offline for jewelry and watches. Until 2022, the percentage of online sales in this segment was 60.2%. Today, online sales are reaching 50.1% and offline sales 49.9%, enhancing the importance of stores.

Favorite Brands in China

In China, local consumers prefer De Beers, Cartier, Chopard, Rolex, and Jaeger-Le Coultre. The favorite stones of Chinese consumers are Diamond, Ruby, Sapphire, Jade, Nephrite, Emerald and favorite colors are red, blue, and green. 

Top 3 Influencers for Watches & Jewelry in China

Yu & Xi

Yu & Xi is a lovely couple gathering 131,000 followers on Xiaohongshu. Their community loves their matching watches and outfits.

Jia

Jia is followed by 103,000 people online. She provides suggestions for watches and jewelry brands that have long-term value.

Karl

Karl is gathering 215,000 followers and leading the consumer trend of high jewelry with rose gold and diamonds for men.

Top 3 Categories for Watches & Jewelry in China

1. Engagement & Wedding Rings

In 2021, the total market size of China’s jewelry industry was about $102 billion USD, in which the diamond market was about $14 billion USD. Marriage consumption is the main source of demand for diamond products, accounting for about 58% of total revenue. The engagement and wedding rings sales are driven by newly engaged couples and independent women from Gen Z and Millennials purchasing an engagement ring for themselves.

2. Birth Stones

The birth stones remain a vivid trend in China – a funny tradition and a matter of investment. January is garnet, February is amethyst, March is aquamarine, April is diamond, May is emerald, June is alexandrite, July is ruby, August is peridot, September is sapphire, October is tourmaline, November is topaz, and December is blue topaz. The birth stones are still very important in the Chinese culture and traditions.

3. Smart Watches

A recent report in 2022 shows that 40% of Chinese people have the habit of wearing a smart watch comparing to 36% in UK, 30% in Germany, 29% in the United States and 22% in Brazil. This is a symbol that the Chinese market is opening to any brand who are trying to make their own definition of watches in the 2023-2030 era, including high-tech brands and watchmaking brands.

Best in Class

Jaeger-LeCoultre

The watches brand organized the “Golden Ratio Musical Show” in Shanghai with the pianist Tokio Myers, the event welcomed hundreds of celebrities and visitors.

Cartier

The jewelry brand organized the exhibition “Into The Wild” in Guangzhou that went viral. It reached 200 million views on Weibo and livestreaming buzz on WeChat.

Bulgari

The jewelry brand collaborated with the online battle arena video game Honor of Kings to release exclusive jewelry skins, reaching 41 million views on Weibo.

Let's Talk!

Send us an email at contact@reverse-group.com or contact us via the form and start your expansion in China today.

CONTACT INFO

Email: contact@reverse-group.com

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