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Expanding consumer scenarios can increase market share. Diamonds in the US jewelry market account for 52%, while the Chinese diamond market is less than 20%. At present, the sub-regional observation of the third and fourth-tier cities has a large penetration space. From the perspective of demand, the penetration rate of marriage demand is 60%. From the demand of mature market accounted for 80%, the pricing power of diamond brands is balanced against the fluctuation of raw material prices, and the gross profit margin of consumption is still stable and has considerable development potential.
Recently, Beijing Morning Post reporter found in the financial report of the jewelry industry that the net interest rate and ROE of Signet Diamond's self-operated model were 8.5% and 17.6%, respectively, and Zhou Dasheng's distribution model was 14.7% and 26.5% respectively. This shows that the direction of market profit comes from self-operating ability and product quality. According to industry insiders, China's diamond industry is still in the dividend period, so the distribution model, operating efficiency is higher, inventory turnover is fast, brand-end premium gross profit is relatively stable, self-employed and joining is difficult to distinguish. The domestic high-end market is monopolized by international brands, and the precipitation and design of the late-developing brands are difficult to make up in the short term. The local brand opportunities are hidden in the mid-end consumer market. Channel layout level, turnover unit price and selection, brand marketing investment are the core competitive factors in the brand positioning market, channel expansion, mergers and acquisitions integration, expansion of scale, and improvement of supply chain efficiency are its optimization programs.
From the inventory turnover days, the local jewelry brand has a large room for improvement in turnover, and the distribution business model is more efficient. The turnover time of branded goods in the domestically managed inlays is much longer than that of foreign brands. On the one hand, as the consumption of mass diamonds is on the rise, the penetration rate is still at a low level, and the expansion of consumer scenes such as rewards is not fast enough. On the other hand, the optimal management level of the brand selection supply chain is still in the process of precipitation, and there is room for improvement in the future.
Mid-end brand layout The current expansion speed takes the lead and then look at the mid-end brand layout. China and other regions have the same market competition. The high-end market is still dominated by international first-line brands, and high-end jewelry needs long-term cultivation and accumulation of brand design. In a short period of time, local brands are difficult to make up and cannot enter the high-end market.
International brands adopt a self-operated model, which lays out first-tier cities and some developed second-tier cities, and the channels are not covered by local jewelry brands. At present, China's diamond industry is still not mature, there are still opportunities for expansion, brand strategy to seize market share as a first move, join the distribution, improve turnover without asking for profit from the terminal. The trade-offs between its brands and channels are bound to be key. Focusing on the brand's mid-end positioning layout, it is necessary to prioritize the expansion of scale, adopt M&A integration and expansion, and improve the efficiency of the supply chain, which may be the first in the market.
There are many brands in professional jewelry retail stores, and retail brand awareness and differentiated advertising also play a decisive role. Advertising expenditure is one of the high growth of jewelry companies' marketing expenses. The marketing budget is the largest investment in the professional jewelry retail industry. The main brands implement national advertising marketing to promote brand awareness and consumer behavior.
Signet's advertising spending in 2017 totaled $380.6 million, or 5.9% of total sales, which was the same as in the past two years. Tiffany's advertising spending in 2017 was approximately $299 million, accounting for 7.5% of total sales. Compared with domestic jewellery brands, there is still a big gap between the leading domestic enterprises in the advertising market and the mature market. (Morning News reporter Chen Xiaobing Shen Na)
China's diamond industry is still in the dividend period
Abstract Recently, the Beijing Morning Post reporter found in the financial report of the jewelry industry that the overall decline in the volume of diamond brands in 2017 was mainly due to factors such as the decline in passenger traffic in various malls, increased competition in the jewelry industry, and frequent exchange rate fluctuations. But from the perspective of consumer goods, the US market is drilling...
Recently, the Beijing Morning Post reporter found in the financial report of the jewelry industry that the overall decline in the volume of diamond brands in 2017 was mainly due to factors such as the decline in passenger traffic in various malls, increased competition in the jewelry industry, and frequent exchange rate fluctuations. However, from the perspective of consumer goods, diamonds in the US market account for 52%, gold in the Chinese market accounts for 55%, and diamond consumption accounts for less than 20%. Regardless of the international or domestic diamond brands, the price of loose diamonds fluctuates. However, the gross profit margin of sales remained stable. Faced with the continuous upgrading of purchases such as gifts and autonomy, experts in the industry predict that the future diamond industry is expected to increase significantly in the jewelry field.