The development trend and prospect of platinum and its jewelry market

Wen Wanyu
2011, the global economic recovery has been difficult, but the demand for platinum has risen against the trend, and the growth trend has stabilized. According to the "Platinum 2012 Yearbook" released by Zhuangxin Wanfeng, the global platinum demand in 2011 reached 251.8 tons, a year -on -year increase of 2%. This is mainly due to the significant growth of the needs of the industrial industry and the stable growth of the needs of the jewelry industry. As the world's first big consumer country in platinum jewelry, China has increased by 2%of platinum jewelry in 2011 to 52.3 tons, accounting for 2/3 of the global platinum jewelry demand. The phenomenon of inverted gold and platinum prices that appeared in September 2011 have even stimulated the increase in platinum producers and retailers on platinum demand. It is expected that this trend will continue to affect the platinum jewelry industry in China and the world in 2012 , Bring stronger growth momentum.
1.2011 ~ Overview of the supply and demand of the global platinum jewelry market in the global platinum jewelry market
In 2010 after the basic balance of platinum supply and demand, the global supply of platinum in 2011 increased by 7%to 2016 tons, reaching 4 years, and in 4 years At the highest level, the recovery of platinum has also increased significantly and increased to 63.6 tons. In the second half of 2011, the prices of gold and platinum were first inverted, which brought new opportunities to the development of the platinum industry, especially the platinum industry, especially the development of the platinum jewelry industry.
The first half of 20112, in most global markets, platinum jewelry manufacturers and retailers have increased their demand for platinum. Under the conditions of the economic environmental environment, the platinum sales market in China and India remains stable. In addition, many market analysts predict that with the excess supply of the market, the price of platinum is still rising for a long time.
In view of the sufficient confidence in the platinum market, more and more manufacturers and retailers have begun to increase investment in platinum investment, collection, gifts and other markets, while platinum is undoubtedly more attractive in the jewelry market. Global manufacturers and retailers have increased their procurement in platinum in 2011, and the market share of platinum market has increased significantly. Among them, China's platinum jewelry demand has reached 52.3 tons. Although the price is higher than in previous years, the demand from China in the first half of 2011 remains strong; when the price of platinum fell in the second half of the year, when the price of gold appeared relative to platinum, the purchase volume of Chinese manufacturers surged. Its procurement volume set a record in September. During the period, the price advantage of platinum increased the profit of the manufacturer, and partial offset the impact of rising labor costs and tightening credit, making platinum jewelry production more attractive. According to Zhuang Xinwanfeng's "Platinum 2012 Yearbook", the demand for global platinum jewelry in 2011 rose 2%to 77.1 tons. The growth mainly came from China and India. The demand for platinum jewelry in Europe and the United States was stable. Affected by the great earthquake and population trend, Japan is the only country in 2011 that the demand for platinum has fallen slightly slightly.
1.1 Demand in Indian platinum jewelry set a historical record
The platinum purchase in the Indian jewelry industry has increased by 1/3 to 2.5 tons. The increase in platinum sales outlets and the rise in consumer purchasing power have recorded India's platinum jewelry demand. Platinum jewelry is becoming very popular and rapidly growing on the basis of a lower share. At the same time, some new stores in major cities in India have actively launched the promotion of platinum series products.
1.2 Wedding industry and high -end market support Europe and North America platinum purchase demand
although Europe has encountered debt crisis, the platinum market is strong. This is mainly because platinum always occupies an important position in the wedding and luxury markets The two major markets are low in price, and they are very limited due to economic factors. The expansion of overseas brand jewelry outlets and the successful marketing strategy of wedding jewelry markets have increased the demand for platinum jewelry in North America to 5.8 tons.
2.2012 China Platinum Platinum Towel City Farm and Primal Foreign State
Thanks to the increase in the number of retailers in the country and the strong demand of consumers in second- and third -tier cities, the sales of Chinese platinum jewelry in 2011 still maintained 2. %growth of. From 2011 to early 2012, the platinum transaction volume of the Shanghai Gold Exchange (SGE) has increased significantly. With the further expansion of the platinum retail network, China's platinum jewelry sales will continue to grow in 2012. In the future, the Chinese platinum jewelry market will still have a huge room for development.
2.1 The status of Chinese platinum jewelry in 2012
The Chinese platinum jewelry market has shown a healthy growth momentum since the beginning of 2012. According to the survey data of the International Platinum Association, thanks to the price advantage at the beginning of the year and the active preparations of retailers' market opportunities, the platinum sales of Chinese platinum jewelry manufacturers in the first half of 2012 increased by 10%to 15%. The major jewelry retail companies in the country have achieved good sales records on Valentine's Day. Platinum jewelry sales increased by 17%year -on -year, and sales increased by 26%year -on -year.
In product level, the first quarter of 2012 plain platinum jewelry and platinum inlaid jewelry have maintained high -speed growth. Platinum chain or platinum rings occupy the top two in the plain platinum market, of which more than half of the market share of platinum chain decorations, and this trend will continue to expand. The leading position in platinum inlaid jewelry is the ring, and the market share of the platinum pendant has also increased significantly, from 10%to 15%.
In the trend of long -term bullish platinum prices, the Chinese platinum jewelry market will face many opportunities. According to Zhuang Xinwanfeng's "Platinum 2012 Yearbook", the inventory established by manufacturers and retailers in the end of 2011 and early 2012, which means that the demand for platinum jewelry in 2012 will have a stronger increase than 2011 momentum. In addition, Hong Kong's jewelry brands continue to expand retail in mainland China, and also created the opportunity to increase the sales of platinum jewelry. As more and more well -known brands open stores in the third and fourth -level cities, the market will further penetrate to low -level cities and inject new impetus into the development of the platinum jewelry market.
2.2 Platinum jewelry consumer group analysis
With the changes in the adjustment of the macroeconomic structural adjustment, China's economic growth began to fall in 2012, but the status and status of the platinum market price and The impact of the stable growth of the wedding market, the consumption of platinum jewelry will continue to rise against the trend.
The global authoritative consulting and survey agency Huatongmingluo Company for 8 major cities in China (Beijing, Shanghai, Guangzhou, Chengdu, Shenyang, Qingdao, Changsha, Xiamen) at the end of 2011 a total of 2,200 20-40 -year -old cities A survey of platinum consumption habits of the person shows:
(1) Chinese platinum consumer audience has shown a younger trend, and taste and personalization have begun to become the leading factor in consumer choices.
(2) about 1/3 of the interviewees when asked about precious metal jewelry materials, first mention platinum.
(3) Shanghai has become the market with the highest rate of platinum jewelry, and 74%of Shanghai interviewees said that they already have platinum jewelry.
(4) In second -tier cities such as Qingdao and Xiamen, the market share of platinum shows a growth trend.
(5) Platinum consumption demand for young unmarried women between 20 and 30 years old is the strongest.
This survey shows that high -quality consumption has become a new trend of platinum jewelry consumption. Emotional demands have become the key factor that attracts modern consumers to choose platinum jewelry. Second and third -tier cities will become the main driving force for the development of the platinum market in the future.
In recent survey data from the International Platinum Association, the consumer groups of platinum jewelry have a new trend in purchasing channels and product needs:
(1) Consumers with more than 1/3 will consider passing through passing The online channel purchase of jewelry, the online sales of the Chinese jewelry market have increased several times in the past three years. It is expected that the proportion of 2012 will increase to 3%(see the table below):
2007 ~ 2012 Chinese jewelry sales Channel structure
Data source: China Treasure Association, Shuiqing Muhua Research Center
(2) Platinum inlaid products with higher process requirements have attracted consumers more attention.
This survey shows that online sales will become a new position for the development of platinum jewelry market, and the design of platinum inlaid products with fashionable personality will bring new impetus to the development of the platinum jewelry market.
2.3 The performance of the Chinese platinum wedding market is optimistic
. Although the domestic economy was slightly weaker compared to last year in 2012, wedding consumption has always been rigid demand, so the favorable conditions of the wedding market are not affected by the overall economic environment Essence According to the prediction of the Civil Affairs Bureau, due to the factors of Shuangchun Shuangya, the year of the dragon is still the peak of wedding in 2012. It is expected that the number of weddings will reach 13 million pairs. The prosperity of the wedding market will greatly promote the market performance of Chinese platinum jewelry. Therefore, to grasp the demand for Chinese wedding consumption, it will be an opportunity to drive the growth of platinum sales in the future.
platinum, known as "love metal", is regarded as the best testimony of marriage and love because of its eternal characteristics. Platinum's concept of "never faded" is generally recognized by consumers and thus becoming the mainstream of sales. According to the International Platinum Association's in -depth consumer in consumers in 8 cities across the country at the end of 2011 and early 2012, about 84%of the prospective brides in wedding jewelry want to choose platinum as a wedding ring material. It can be seen that the consumption of platinum in the field of wedding will still be optimistic, and thereby drives the overall platinum jewelry market sales.
If national marriage registration
Data sources: Statistical Report of the Development of the Ministry of Civil Affairs of the Ministry of Civil Affairs and Bride Magazine
At the "2012 Summer Shanghai Wedding Expo", about 80,000 new people from Shanghai visit the venue, The entire venue showed a strong trend at the platinum wedding ring sales counter. Some jewelry retailers have increased by 50%over the same period of 2011 within 2 days of the wedding expo. The pretty precepts have become the mainstream of wedding ring sales, and 80%of them have sold platinum pairs. 70 % of the newcomers prefer to choose a small diamond platinum rattling ring with less than 10 points. Platinum diamonds with a price range of 5,000 ~ 6000 yuan are the most popular for newcomers.
At present, the main population of platinum wedding consumption is young people between the age of 20 and 35. They are pursuing personalized and fashionable consumption concepts and favors fashion products. Producers' more investment in platinum processing has also allowed platinum jewelry to occupy a favorable position in the market competition of wedding jewelry. This season's platinum wedding products are rich in and various. In addition to traditional plain platinum matches, the development of platinum diamonds, three -ring, and platinum wedding set series have also been strengthened, realizing the diverse wearing needs of consumers. In particular, platinum diamonds are favored and selected by more and more newcomers. Platinum is firmly inlaid diamonds and sets off its glittering fire. The perfect combination of the two has become the best testimony of important moments such as wedding ceremonies and wedding memorials. In addition, the unique "comfort inner arc" process increases the comfort of consumers' daily wear, so that the husband and wife can always feel the eternal promise of each other.
2.4 Platinum price analysis prediction in the next 6 months
According to Zhuang Xinwanfeng's "Platinum 2012 Yearbook", the supply and demand situation of platinum markets in 2012 is expected to be similar to the overall level in 2011. After reducing inventory in 2011, the relatively low level of inventory in South Africa means that the entire industry has decreased the flexibility of platinum supply from inventory. The basic output interruption caused by strike and production recently makes it possible to decline in supply in 2012. These factors are more likely to decline. It is expected to support platinum prices. However, the stable demand of automotive gas purification catalysts and the more mild procurement level in the field of cyclical industrial applications will lead to a slight decline in total demand. According to this situation, the price of platinum is expected to be between $ 1,450 and $ 1750 in the next 6 months, with an average of $ 1,600.
3. Continuously strive to consolidate the leadership of the Chinese platinum jewelry market
In the situation of weak global economy, Chinese platinum jewelry consumption can still maintain a stable growth in 2011, thanks to accurate grasp of market opportunities in 2011 Constantly search for a new strategy that can benefit the entire industry, thereby effectively driving the overall development of the platinum jewelry industry. In 2012, the International Platinum Association will continue to maintain a good cooperative relationship with major partners, establish consistent goals, and at the same time carry out a series of market activities such as effective publicity methods to improve design processes and improve the retail environment. The development momentum continues to consolidate the leadership of the Chinese platinum market.
3.1 The new brand positioning strengthens the emotional communication with consumers
In recent years, through the large -scale market research on consumers in many cities in China, emotional demands have become attracting modern consumers to choose platinum platinum. Key factor of jewelry. Platinum's own brand value connotation is the inherent advantage of platinum, which can make it have more emotional connections with people. This will be the most powerful support point for the development of platinum jewelry market in the future. Therefore, in promotion, we always emphasize the emotional value of platinum.
In 2011, the International Platinum Association further opened the Chinese market by highlighting the unchanged connotation of platinum. The closely related emotional demand for unchanged emotion not only reflects the meaning of platinum to young women, but also reflects the symbolic meaning of platinum to witness the "promise of never fading". The connotation value of platinum is in line with the needs and demands of young Chinese young women. It is easy to cause strong emotional resonance in communication, which helps platinum to stand out from various white metals.
3.2 Adjust the media strategy to attract young consumers
The young platinum jewelry consumers respond quickly, pursue personalization, emphasize emotional demands, and favors fashionable design. In response to this characteristic, the International Platinum Association will launch a series of multimedia propaganda offensives to continue to support the development of the platinum jewelry market. In addition to traditional stores, television and graphic media promotion, it will also increase investment in the Internet and social media, strengthen consumers' awareness of platinum leadership through various media channels, and timely interact with consumers in a timely manner.
2012 Mid -National Jewelry and Jewelry Shou Jiejian
In the wedding market, the focus of the dissemination will be focused on "the promise of never fading". The purpose is to allow consumers Eternal marriage contract and witness of love. In the non -wedding market, the value connotation of platinum unchanged is the core information of communication, so as to resonate with the emotion of modern women's desires, and encourage them to use platinum jewelry to express their inner constant characteristics. In addition, the International Platinum Association will also increase the education and promotion of platinum knowledge for consumers of third- and fourth -tier cities, and extensively convey the precious characteristics of platinum rare, pure and eternal. , Strengthening their understanding of platinum in the field of white precious metals.
3.3 expanded in -depth cooperation with excellent retail leadership brands
With the rapid increase in China's labor costs and rising store rent levels, the operating costs of manufacturers and retailers have increased significantly. At the same time, retail stores have become the main battlefield for jewelry competition. In response to this situation, the International Platinum Association will cooperate in depth with excellent retail leadership brands through various forms to provide more added value to cope with market challenges.
At the market level, the International Platinum Association will invest more resources for market research to help retailers understand consumers' demands, get consumer recognition, and eventually realize their purchase. At the industrial level, the association will be committed to building a business platform that integrates the advantages of manufacturers and retailers to create greater market opportunities. At the product level, the association will provide higher design levels and richer types of jewelry for excellent retail leadership brands. At the service and sales level, the association will also help retailers understand the advantages and disadvantages of their stores, and to maximize the current platinum market opportunities through good product display, rich product selection, and trained sales staff. In addition, the association will go into the wider market share with a wider market share with retailers with a wider market share with retailers.
2012 China Jewelry and Jewelry Nian Junior Nian Jian
3.4 continued to promote design guidance of platinum consumption fashion n in recent years, Chinese platinum consumer groups have shown a trend of youth, and consumers in first -tier cities have especially requirements for fashion design design protrude. Therefore, the effective improvement of the design level is the key point for the growth of platinum jewelry consumption in the future. The International Platinum Association will carefully select the backbone of platinum design to form a platinum elite designer team to conduct interactive activities such as discussions, training and exchanges with brand manufacturers to improve their jewelry design capabilities. For excellent retail leadership brands, the association will focus on launching more types of platinum jewelry in line with international trends and diverse styles, so as to attract more young consumers in the wedding and non -wedding markets and maintain the leadership of platinum jewelry.
4. Summary
. Although the growth rate of China's economy in 2012 began to slow, the huge consumption potential of the majority of second- and third -tier cities in China, and the stable growth of China's emotional consumption and wedding market, will be China in the future China The development of platinum jewelry provides strong support. As more and more consumers demand for jewelry's storage value continues to rise, platinum products or souvenirs with value preservation function will also receive market attention. From the perspective of long -term market development, platinum prices will be gradually rebounded, platinum sales markets will be further expanded, retailers' opportunities will increase, and the market prospects are expected to be bright. At the same time, the economic recovery of developed markets and the rapid growth of emerging markets have promoted the expansion of production capacity in many industrial fields and enhanced the needs of platinum in the industrial industry. This will also drive the continuous and stable growth of the global platinum market.