Future jewelry market integration or differentiation

After more than 10 years of gold development, under the impact of multiple factors such as the slowdown in economic growth and the sharp fall in international gold prices, the glory of China's gold and jewelry industry came to an abrupt end, and the jewelry market as a whole was in the doldrums.

The market downturn directly led to industry reshuffle. The cold winter of China's gold and jewelry industry was strong. The first to fall was the small and medium-sized gold processing and manufacturing companies that had previously rushed in. Afterwards, numerous retail stores followed suit, and the remaining enterprises were shrinking. Struggling along the way, looking for ways to transform and upgrade. The jewelry industry has entered the winter phase of the industry.

However, in view of a number of people in the industry, the overall Chinese gold jewellery market has not been reduced. The prospects for the Chinese gold jewellery market are already attractive and have huge room for development. Zhao Bin, executive vice president and senior economist of Shenzhen Baitai Investment Holding Group Co., Ltd., bluntly pointed out that China's gold and jewelry industry has not been caught in the cold winter. The current industry reshuffle is the only way for the industry to defoam, gold jewelry. The industry is still a sunrise industry, and the future development of the gold jewelry market is still vast.

Maintain confidence in the jewellery industry

The comprehensive shuffling of the gold jewelry industry has caused everyone to worry about the future of the Chinese gold and jewelry industry. It is still not possible to see when this cold winter will end, leaving many bosses and employees of small and medium jewellery companies uncomfortable and pessimistic.

However, China's gold and jewelry industry is not as pessimistic as people think. On the contrary, after the industry reshuffles and removes some industries with low technology, backward manufacturing processes, lack of independent innovation, and impetuous blind enterprises, China's gold and jewelry industry will usher in a new development of resource optimization and integration and industry standardization and development. Peak period.

According to relevant statistics, in 2014, the retail sales of the domestic gold jewellery market exceeded 470 billion yuan, of which gold accounted for over 75% of the market. Although the share of gold jewelry has declined, the overall growth rate is still slow, and it is expected to maintain a compound annual growth rate of around 5% for the next five years.

China's gold jewelry market share has not been reduced in general and the industry is still developing. Therefore, jewelry companies should maintain confidence in the jewelry industry. At present, more attention should be paid to internal strength and savings, waiting for the arrival of time. .

Excavate its own advantages and actively innovate

Among the industry's wave of reshuffle, the first to be swept out was the frantic influx of gold processing factories and retailers in 2013. What these failing companies all have in common is lack of technical content, lack of attention to manufacturing processes and products. Quality, in order to compete for orders to fight price wars, eventually killed one after another.

Recklessness, speculation, instant success, and blindness are common problems in many Chinese gold and jewellery companies. Their lack of attention to their own manufacturing processes, technologies, and services and their lack of understanding of external market information have caused these companies to be unable to survive in the wave of shuffling. main reason.

Zhao Bin said that companies must find out their own advantages and core competencies, and persist in doing their own thing intently. Enterprises should fully understand and tap their own advantages and core competencies, and focus on and persist in doing their own thing. At the same time, companies must also follow the trend, disrupt disruptive old business models, and enhance their overall strength.

After chaotic competition, the jewelry industry will surely move toward an era of resource integration. In the future, the jewellery industry will have a polarized development pattern. Either small and sophisticated companies will achieve the ultimate in certain fields, or some large and comprehensive companies will effectively integrate the industry. This is a choice question that has to be done before us.