Beijing – Gemfields, a leading global responsible miner and marketer of colored gemstones, unveiled its latest consumer research report, “Ruby – Breaking Out of Collectors’ Cabinets, Becoming Part Of China’s Middle Class Lifestyle.” This comprehensive report delves into the evolving landscape of China’s colored gemstone market, shedding light on emerging consumer trends and aesthetic preferences.
In this second report dedicated to the Chinese consumer market, Gemfields builds upon insights gained from its 2020 release. The focus is on ruby, engaging in extensive dialogue with China’s middle-class consumers to analyze the post-pandemic era’s impact on their purchasing habits, attitudes, and motivations.
Sean Gilbertson, Gemfields CEO, expressed optimism, stating, “Our research indicates an unquenchable thirst for rubies, which is both exciting and encouraging amidst post-pandemic uncertainties. This exploration into Chinese consumers’ attitudes towards rubies highlights stories of growth and identified opportunities.”
“3 Peaks” Represent A New Era For Rubies In China
Surveyed Chinese consumers exhibited a clear preference for rubies among colored gemstones, ranking the red gem first in terms of awareness (68%), desirability (61%), and purchase (55%). Ruby surpasses competitors, with awareness nearly double that of second-place sapphire and triple the desirability and purchase rates of second-place emerald. This underscores ruby’s significant market potential in China.
Cultural Symbols under Chinese Aesthetics
Chinese consumers’ affinity for rubies is intricately linked to the gem’s aesthetic symbolism and Chinese culture. Survey responses revealed popular associations with “wealth and prosperity” (31%), “tasteful” (29%), and “very Chinese” (28%). Respondents view ruby as a symbol of traditional Chinese culture and embodying “new Chinese” aesthetics, suitable for everyday dressing.
Breaking out of Collectors’ Cabinets, Wearable Scenarios are Not Limited
The perception of rubies as exclusive to special occasions is evolving. Consumers express a strong interest in the “New Chinese Style,” integrating cultural elements into everyday wear. The survey indicates preferences for Elegant/Classic (38%), Traditional Chinese (37%), and New Metropolitan Chinese (30%) styles to complement ruby jewelry. Respondents highlight the versatility of smaller-sized ruby pieces, especially in necklaces and rings.
High Potential for Innovative Ruby Product Applications with a High Level of Market Openness
Chinese consumers demonstrate a high interest in personalization and customization of ruby products beyond traditional jewelry. The research identifies innovative product combinations, including smartwatches (35%), watches (33%), bag accessories (23%), fragrance bottles (22%), and handbags (20%), as top potential pairings with rubies.
Portraits of the 3 Ruby Potentials
The report categorizes potential ruby consumers into three groups: Neo-Socialites, Aesthetic Appreciators, and Chinese Culture Devotees. Each group reflects distinct preferences and lifestyles, catering to varied segments of the market.
Better Market Education May Be the Key to Driving Ruby Consumption
While interest in rubies is strong, consumers rely on domestic brand-owned social platforms (35%), Chinese social media (33%), and international brand-owned social platforms (31%) for jewelry inspirations. The report suggests a need for enhanced professional and authoritative ruby market education to address the relative lack of professional ruby knowledge among Chinese middle-class consumers.
At the launch event, Gusto Collective’s Director of Product and Innovation, Ms. Aslada Gu, presented the report’s findings. The event also featured a panel discussion with industry experts, including Ms. Emily Dungey, Gemfields’ Marketing and Communications Director, Ms. Ruby Liu, President of GUILD Gem Laboratories, and Mr. Lionel Lee, Editor-in-Chief of COMFORT magazine and gemmologist. Emily Dungey emphasized the passion of Chinese consumers for rubies, highlighting the need for greater educational resources and collaborations with local jewelry brands to tap into the growing market potential for ruby gemstones in China. The report was shared not only through an offline launch but also via online live streaming to reach a wider audience.
