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

When the Kids Have Their Own Careers, Wilkerson Can Help You to Retire

Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

Promoted Headlines

Most Popular