Global sales of diamond jewellery have grown by 7% in Q1
22 June 2018 – In Q1 2018, sales of jewelry with polished diamonds in the main global consumer markets have grown by 7% as compared to the last year. This is evidenced by the analysis conducted by ALROSA experts based on the data of retailers and the states' national statistics.
According to ALROSA's estimates, positive market dynamics was mostly driven by consumer interest growth and changed currency exchange rates (all figures have been modified in the Dollar equivalent).
In particular, sales of diamond jewelry in North America (the USA and Canada) have increased by 5% as compared to the first quarter of the previous year. The North American market has a strong lead in jewelry sales volumes – as per the results of 2017 it accounted for 53% of total global sales.
Sales in the Asia-Pacific Region have grown by 11%, firstly due to growth in Mainland China as well as strengthened demand in Hong Kong and South Korea, driven by increased tourist influx. In 2017, the Asia-Pacific markets accounted for 20% of the global consumption of jewelry with polished diamonds.
In particular, sales in the Indian market remained stable in the first quarter. Observers note decreased sales in small networks and separate shops, while large jewelry networks demonstrate sales growth.
In Europe, sales in the Dollar equivalent increased by 14%, mostly due to the positive effect from strengthening the Euro positions.
Sales of jewelry with polished diamonds in Japan grew by 7%. The local population account for the biggest part of jewelry sales, its demand remains stable. Moreover, the sales dynamics was positively influenced by weakening of the Yen against Chinese Yuan, which provided for growing tourists' demand.
On the whole, the worldwide luxury market has demonstrated 13% growth in the first quarter of the year. The biggest growth in this segment has been noted in Asia-Pacific Region countries (by 20%) and in Europe (by 18%).