Chinese Wedding Market
Essay Preview: Chinese Wedding Market
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Jewelry, the preferred product in Chinese wedding market, has presented robust performance bolstered by the demand for value preservation and enhancement in recent years and has become the fourth hot topic of consumption following home appliance, housing and automobile in China. As of the end of 2011, the annual sales of jewelry in China exceeded RMB300 billion, an increase of 2.4 times from RMB88 billion in 2000. Among the jewelry product
As household incomes rose and living standards improved, jewelry purchases have increased rapidly in China. For Chinas most popular jewelry category, gold jewelry, consumption volumes in China increased from 224.1 tons in 2004 to over 400 tons in 2010, representing annualized growth of more than 10.0%.
In the five years through 2012, total revenue for the Jewelry Store industry in China has been growing at an annualized rate of 28.1%. China has become the largest consumer of gemstone, jade and platinum jewelry in the world, and the second-largest consumer of gold jewelry (after India) and diamond jewelry (after the United States).
Against this background, this study provides a constructive evaluation and analysis of global etiquette and cross-cultural communication for managers in international assignments. The study then proposes a strategic role for organizations to achieve adequate return on investments and to succeed in international competitiveness through cultural awareness, sensitivity, and reciprocity.
Abstract:
As household incomes rose and living standards improved, jewelry purchases have increased rapidly in China. As of the end of 2011, the annual sales of jewelry in China exceeded RMB300 billion, an increase of 2.4 times from RMB88 billion in 2000. Among the jewelry product. In the five years through 2012, total revenue for the Jewelry Store industry in China has been growing at an annualized rate of 28.1%. China has become the largest consumer of gemstone, jade and platinum jewelry in the world, and the second-largest consumer of gold jewelry (after India) and diamond jewelry (after the United States). Against this background, This study
provides comprehensive analysis on the jewelry industry in China, covering various aspects such as market background and market share trends, the behavior and psychology of customers, key player in China market, market distribution by jewelry retailers and manufacturer, drivers and challenges of the industry, key success factors for global brands.
Preliminary Bibliography:
“Luxury Experiences in China” by KPMG
“Luxury brand in China” by KPMG
” Luxury market in China 2010″ by Li & Fung research centre
“China jewllery market analysis and competitive