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1、Emerging Patterns and Market Dynamics in the Luxury Jewelry&Watch Category in ChinaOct 2023FOREWORDChina stands out as one of the most resilient markets worldwide.With declining impact from the pandemic,the Chinese luxury market is poised to experience a remarkable 15-20%year-on-year growth in 2023.

2、Furthermore,by 2030,it has the potential to surpass both Europe and the Americas and become the largest single market globally.This impressive expansion can be attributed to factors such as increased disposable income,a positive consumer confidence index,the rise of a new generation of luxury buyers

3、 born after 1995,the growing demand from lower-tier cities,and an inclination towards self-indulgence,etc.Industry Overview Jewelry:The gold market,lab-grown diamonds,and colored gemstone sectors are witnessing steady growth.Watches:The female watch market has vast potential and is leading the rise

4、in the fashion appeal of watches.Consumer Preferences Online sales are on track to rival offline sales as businesses embrace a unified online to offline approach.Consumers now have access to diverse sources of information to guide their purchasing decisions.Premium watches share common attributes of

5、 classic design and value retention,while high jewelry buyers prioritize the latest styles and brand reputation.Dynamic Landscape of Luxury Brands Luxury groups are focusing more on the hard luxury category Embracing offline:enriching the retail experience with smaller,sophisticated events to convey

6、 brand culture Luxury brands actively explore online channels while top-tier watches maintain scarcity in online distribution Leverage high tech to transform online luxury shopping experience Attract younger audiences through collaborations and celebritiesThis report focuses on the thriving segment