Chinese Millennials Don't Want Bling, They Want Better Designs

Chinese Millennials Don't Want Bling, They Want Better Designs

Last week saw the release of both the Platinum Jewellery Business Review by Platinum Guild International (PGI), and Gold 2048: The Next 30 Years in Gold by the World Gold Council Both reports addressed current sales figures of the respective precious metals, and predictions for the year ahead Whilst 2017 saw gold consumption in China climb 94 percent, platinum dropped 28 percent, with another year of significant loss forecast for 2018.

Elsewhere, India saw a 21 percent rise in sales of platinum jewelry, the USA 11 percent, and Japan 2.1 percent – all owing their success to the rise of the millennial luxury consumer. Diamonds Are a Millennial’s Best Friend Demand for jewelry overall in China rose 10.4 percent in the last year, a dramatic recovery from the 19 percent drop seen in 2016 This original drop came following the Chinese government’s crackdown on corruption hitting the market hard President Xi Jinping’s. Source

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