Connect with us

Headlines

Diamonds Don’t Have to Mean What You Think They Mean

mm

Published

on

And for these consumers, they don’t.

North American jewelers are used to associating diamonds with love and romance, but in China, that relationship doesn’t always hold true, Bloomberg reports.

Women in the 18-34 age bracket account for 68 percent of diamond sales in China, and many of those sales have nothing to do with a romantic relationship.

To these consumers, “diamonds are more of a fashionable mark of achievement instead of a symbol of everlasting love,” Bloomberg reports, citing Joan Xu of advertising agency J. Walter Thompson.

And that means the largest diamond sellers in China have to adjust their marketing and their offerings accordingly. For example, they have to understand that their goal isn’t just to sell higher-priced diamond jewelry.

For the typical millennial woman who buys diamonds in China, “What we need to provide for her are pieces that are personalized, unique — but not too expensive, as she’ll possess many, not just one diamond piece,” said Wang Ensheng, marketing manager of Lao Feng Xiang, a jewelry company based in Shanghai.

Read more at Bloomberg.

Advertisement

Advertisement

SPONSORED VIDEO

Thinking of Liquidating? Wilkerson’s Got You Covered

Bil Holehan, the manager of Julianna’s Fine Jewelry in Corte Madera, Calif., decided to go on to the next chapter of his life when the store’s owner and namesake told him she was set to retire. Before they left, Holehan says they decided to liquidate some of the store’s aging inventory. They chose Wilkerson for the sale. Why? “Friends had done their sales with Wilkerson and they were very satisfied,” says Holehan. He’d enthusiastically recommend Wilkerson to anyone looking to stage a liquidation or going-out-of-business sale. “There were no surprises,” he says. “They were very professional in their assessment of our store, what we could expect from the sale and they were very detailed in their projections. They were pretty much on the money.”

Promoted Headlines

Most Popular