Reflections on the Market Decline of Jewelry Industry

In 20 12, the traditional "Golden September and Silver 10" sprint season in the domestic jewelry terminal consumer market was quiet compared with previous years. Compared with previous years, the sales situation of the 8-day long holiday in Golden Week made people in the industry shudder. According to the relevant data released by the National Bureau of Statistics, in September, the total retail sales of social consumer goods such as gold, silver and jewelry was 177 billion yuan, up by 12.5% year-on-year, and the growth rate of jewelry enterprises was significantly lower than before.

In fact, as early as 2065438+June 2002, the overall sales of Shenzhen jewelry industry and the production of gold and diamond inlaid products were not prosperous, especially large and medium-sized backbone enterprises, which attracted the attention of relevant government departments and associations at all levels.

Is the gold jewelry market going to an inflection point? Will the profound impact of the global economic slowdown change the fate of the jewelry industry? This is indeed a question worth thinking about.

1. The slowdown in market growth is inevitable for this industry.

Looking at the development of domestic gold jewelry industry, it is not difficult to see that gold jewelry surged from the undercurrent in the middle and late 1980 s to the sudden emergence in the late 1990 s, and the jewelry market dominated by single gold, like the flood that just burst its banks, formed a strong seller's market; Since then, platinum, diamonds and other internationally popular first jewelry categories have made strong appearances, setting off a white storm in the domestic jewelry consumer market. With the gradual liberalization of the government's precious metal management policy and the continuous maturity of the market economy model, it has boosted the ultra-high-speed development stage of the domestic jewelry industry in the past decade.

20 12 China jewelry yearbook

1999 During the five or six years from 2004, the production and processing industry of platinum and diamond inlay reached an unprecedented peak of development, and basically completed the accumulation of various commodities in the end market around 2008. During this period, it is worthy of attention. First, since 2005, with the rising price of platinum raw materials and the saturation of the market, the processing and sales of gold jewelry began to develop rapidly again. Second, since 2003, overseas brand jewelry has landed in the domestic market on a large scale, and mainstream enterprises that used to focus on processing and wholesale have gradually begun a long process of brand building.

After several years of competition and development, the jewelry industry has successfully used the franchise chain model to quickly occupy the terminal consumer market, forming a multi-faceted pattern, with Hong Kong-funded brands, national brands and regional strong brands occupying the terminal market seats. The terminal market of jewelry joining is divided by regions. Except for a few regions and third-and fourth-tier cities, the terminal brands are basically saturated.

Through the rapid development of franchise business in recent years, upstream production enterprises have made a lot of profits, but many unsuccessful enterprises have left the upstream. Take Shenzhen jewelry industry base as an example. There are many enterprises in the form of production, wholesale and brand joining. After years of development, some terminal brands have established an image and are deeply rooted in the hearts of the people.

It can't be ignored that a considerable number of enterprises, after completing the initial wealth accumulation in various ways in the case of non-standard industries in the 20th century, saw the huge cake in the terminal market, started blindly without fully estimating their own digestive ability and low degree of specialization, were carried away by short-term interests, blindly expanded at a high speed, pursued the scale of enterprises, but did not pay attention to the scale benefits of enterprises, which led to the regret and contraction of the industry at the shuffling node. In terms of service franchisees, there are also problems such as lagging management and serious homogenization of brand and product output, which damages the brand image.

It is a little gratifying that with the continuous development of the industry, supporting industries specializing in marketing, training, design and promotion services have emerged in recent years, and the significance of the mushrooming of these institutions is worthy of recognition. From the perspective of professional division of labor, this multi-dimensional structure is of positive significance to industrial development, but these institutions are often restricted by upstream production enterprises, and their ability to integrate resources needs to be improved, and they are too dependent on production enterprises.

20 12 China jewelry yearbook

In recent years, the prices of precious metals and gems have fluctuated greatly due to the influence of international economy and finance, and the lack of sensitivity and early warning of raw material price adjustment by production enterprises is another important reason for the slowdown of industry growth. In addition, some non-mainstream enterprises are shoddy and have bad business practices such as adding precious metals, which have an impact on the industry and make end consumers have a crisis of trust in upstream production enterprises.

To sum up, combined with the world economic situation and various factors, the author can assert that although the demand for jewelry consumption is still strong in the long run, it is inevitable that the growth rate of the domestic jewelry retail market and the whole industry will slow down or even decline further in the short term. This is because:

First, the world economy is declining, the domestic economic development is slowing down, the international gold price is rising day by day, and the influence of the economic environment is irresistible; Second, the basic pattern of the industrial chain is taking shape, the terminal market is gradually saturated, and the markets with different needs such as investment, business, clothing and decoration will be gradually subdivided; Third, the categories of jewelry products are constantly diversified, while consumer demand is developing in two directions: high-end and rationalization, and consumption is completely moving towards the buyer's market; Fourth, the situation of low-end development and disorderly competition has not been fundamentally broken, and the phenomenon of self-harm and mutual harm within the industry is still serious; The core competitiveness of most enterprises is still in ruins and the situation is worrying; Fifth, the contradiction between the standardization of market management, the enhancement of consumers' awareness of self-protection and the backward management concept, technology and level of enterprises will become increasingly prominent.

20 12 China jewelry yearbook

2. Up-down linkage is the basis to ensure stable development.

I think, so I change. It should be said that under the current international and domestic economic background, the jewelry industry is facing domestic and foreign troubles. For the jewelry industry, which once developed at a high speed in the tide of market economy, it is a good thing to re-examine its own path, calmly respond and make appropriate adjustments, so as to accelerate the transformation and upgrading of the industry and promote the reshuffle of the industry and the re-integration of resources. But stability is the key. The urgent problem is that in the face of the obvious decline of the market, the government's pull, the industry's promotion and the initiative of enterprises form a joint force of up and down linkage, which is the foundation to ensure the stable development of this sunrise industry in the process of reform and adjustment.

In the past eight years, the number of domestic jewelry retail enterprises has increased by about 20%, with retail outlets all over urban and rural areas. The per capita consumption level of gold jewelry in China increased from 10.2 USD in 2000 to 18.8 USD in 20 10. However, it should be noted that the development space of China's jewelry industry is still huge, and 2065,438+00 is beautiful. China's per capita gold possession is still relatively low in the world, and it is still at a low level compared with developed countries. Although the decline of the gold jewelry market is inevitable, we can still make a difference.

As far as the government is concerned, on the one hand, it should firmly adhere to the guiding ideology of "storing money for the people" and formulate policies that are more conducive to implementing this guiding ideology. When the current market situation changes, we can implement different tax systems, distinguish the concepts of investing in gold bars and jewelry, correctly guide consumers, and let jewelry return to the essence of luxury goods and jewelry, so as to achieve the purpose of market segmentation. While stimulating consumers' confidence in investing in gold, they can encourage consumers to adjust their just-needed consumption according to their own conditions, and then truly establish it. On the other hand, through tax adjustment, policy support, administrative management and other means, help key enterprises to develop into large-scale enterprises, and at the same time limit and standardize other projects that are too fast, overheated, excessive, high-consumption and low-efficiency; Protect the healthy, sustainable and scientific development of the market and industry while protecting the interests of consumers. Only by increasing the encouragement of innovation, encouraging the innovation of production enterprise models and products, and making great efforts to promote industrial upgrading and transformation, can the government fundamentally reverse this situation.

It is far from enough to have government policy support. It takes two hands to promote the comprehensive transformation and upgrading of the industry. On the other hand, relying on the strength of associations and non-governmental organizations, starting with industry norms, we will introduce industry norms as soon as possible, urge enterprises to reflect on self-discipline, assist enterprises to communicate with the government, encourage enterprises to differentiate, and play a good differentiation card. In this process, trade associations at all levels should play a powerful role in promoting the construction of cross-industry strategic alliances, promoting collectivization and intensification, and giving more specific support and help in technology, information and coordination.

Of course, the enterprise is the main body. As a participating enterprise, how to change ideas, promote innovation, cultivate the superior and eliminate the inferior, and play a good combination boxing is very important. Changing the concept is to change the previous one-sided pursuit of big and complete, small and complete, focusing only on the scale of enterprises and ignoring the scale benefits. Promoting innovation means product innovation, marketing model innovation and business thinking innovation, comprehensively integrating the advantages of upstream industrial chain, leveraging external brains, boldly innovating, striving to explore cross-industry alliances and actively exploring new fields.

It is an indisputable fact that the domestic jewelry retail market has undergone new changes, and the factors behind it cannot be explained clearly in a few words. The adjustment of market structure must also be realized according to the laws of the market itself. However, God disposes, man proposes; As practitioners who love, care and devote themselves to the jewelry industry, we have to think about problems and explore new ways out.

20 12 China jewelry yearbook