The Chinese diamond jewellery sector has been the fastest growing in the world.
Traditionally, Chinese demand has been dominated by solitaire-type diamond jewellery, which accounted for 81 per cent of pieces in 2016.
Necklaces and earrings have gained share of the total number of pieces. This trend is likely to continue, as repeat purchasing increases in the future.
The main reasons for women not acquiring diamond jewellery in 2016 point to an opportunity for the creation of occasions for gifting, self-purchase and wearing diamonds.
Brides and Millennials drove Chinese diamond jewellery demand growth in 2016.
Desire for diamonds among Chinese women has remained consistently strong and is the highest of any leading diamond region in the world.
More than two- thirds of women choose diamond jewellery as first or second preference for a gift out of a list of high value luxury items
As Chinese women – Millennials in particular – hold an image of diamonds as symbols of love and enduring romantic relationships, diamonds are becoming an essential part of Chinese weddings. Almost half of brides in Tier 1 to 3 cities acquire a piece of diamond jewellery.
The younger Millennial generation (aged 18–29) acquires diamond jewellery at a considerably higher rate than older women (45–54), not least because half of brides are in this age group.
With demand in Tier 1 and Tier 2 cities reaching maturity, Tier 3 cities become a more important driver of growth and contribute the most value.
Sources: De Beers-commissioned consumer and retailer research, 2014–2016, and analyses.
Note: Some figures may not add up to 100 per cent due to rounding.