GEMFIELDS, the world-leading supplier of coloured gemstones, has identified “huge potential” to market Zambia’s emeralds to consumers in China.
Gemfields’ first-ever report on coloured gemstones in China has revealed that now is the time to seize the opportunity of meeting Chinese consumers’ expectations of corporate responsibility and sustainability.
According to a report titled Sustainability: “The Future of Coloured Gemstones in China”, up to 35 percent of Chinese jewellery owners plan to purchase rubies and 25 percent wish to acquire emeralds in the near future, pointing to an opportunity for the coloured gemstone industry if pieces are correctly marketed.
The findings provide a set of clear conclusions as to the preferences and behaviours of gemstone owners in China across diverse demographics and geographies.
This is based on extensive qualitative and quantitative research among gemstone owners across China’s different regions, city tiers and levels of affluence.
Gemfields Chief Executive Officer Sean Gilbertson said, “China is a very important market to Gemfields, and integral to our company’s growth. It is highly positive that 97 percent of jewellery owners are willing to pay a premium for responsibly mined gemstones.
“We expect responsible sourcing will continue to receive ever-increasing attention, and become progressively more important to Chinese jewellery buyers”.
Some of the further discoveries made in the report were that for 92 percent of respondents, clarity of the gemstone is the most important factor when making a purchase decision.
The report also indicates that 85 percent view weight as the most important, narrowly followed by colour at 83 percent and cut (design) at 82 percent.
Notably, only 76 percent of respondents think the price is the most important factor, rating it of less significance than the gemstone itself.
And Marketing and Communications Director of Gemfields Emily Dungey said, “It is encouraging to see that it is the gemstone itself, in terms of clarity, colour, carat and cut, that is the decisive factor in a purchase decision on gemstones.
The research also indicated that an overwhelming number of consumers are specifically seeking coloured gemstones set in more contemporary jewellery designs, as well as advice on how to style coloured gems with their look.
“Therefore, I see an opportunity to increase the popularity of coloured gemstones by focusing marketing efforts on modern design concepts and creative, personalised styling,” said Ms Dungey.