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China’s Jewellery Shoppers: The Hong Kong Brand Advantage podcast

According to the Survey on Jewellery Shoppers in Chinese Cities: Purchasing Habits and the Hong Kong Premium [1] released by HKTDC Research, Hong Kong’s jewellery brands enjoy an edge in the Chinese mainland, especially the second- and third-tier cities.

Unique style of Hong Kong’s jewellery brands

Overall speaking, most respondents reckon their overall impression of Hong Kong’s jewellery brands to be of unique character (42%), trendy style (41%) and creative (37%). The findings of each city are more or less the same as the overall while most respondents in Guangzhou consider Hong Kong’s jewellery brands to be of good quality.

 

Table: Overall impression of Hong Kong’s jewellery brands (overall and by city)
Table: Overall impression of Hong Kong’s jewellery brands (overall and by city)
 

 

Respondents’ reasons for favouring Hong Kong’s jewellery brands are innovative, trendy style (47%), creative (39%) and good taste (38%). The findings in each city are more or less the same as the overall although Guangzhou respondents have slightly different reasons, including guaranteed quality / positive brand image / good word-of-mouth / good reputation, and purity of material.

 

Table: Reasons for favouring Hong Kong jewellery stores or brands (overall and by city)
Table: Reasons for favouring Hong Kong jewellery stores or brands (overall and by city)
 

 

Hong Kong’s jewellery brands: mid- to high-end

Nearly 80% of respondents reckon that Hong Kong’s jewellery brands belong to mid- to high-end market segment. Another 30% of respondents perceive them to be high-end, 8% mid- to low-end and no respondents choose low-end. Most of the cities share similar views. In Shanghai, more than 90% of respondents reckon that Hong Kong’s jewellery brands are mid- to high-end while in Beijing the proportion of respondents who consider them as high-end is also relatively high.

 

Table: Perceived market positioning of Hong Kong jewellery brands (overall and by city)
Table: Perceived market positioning of Hong Kong jewellery brands (overall and by city)
 

 

Hong Kong jewellery brands enjoy a 47% premium

Mainland consumers are willing to pay a premium for Hong Kong and international jewellery brands. Assuming the price of a mainland branded jewellery item is Rmb1,000, mainland consumers said they are willing to pay Rmb1,465 for a like product but of Hong Kong brands, and Rmb2,091 for international brands, indicating that the premium of Hong Kong brands and international brands compared with mainland brands are, respectively, 47% and 109%, similar to the findings in 2011 (where the premiums for Hong Kong and international brands, compared with mainland brands, are 46% and 105% respectively).

On a city basis, the Shanghai and Guangzhou respondents give the lowest premiums to Hong Kong brands, at less than 10%, while most of the second- and third-tier cities give a premium of more than 40%, meaning that further development opportunities for Hong Kong brands in these cities may be more promising.

 

Chart: Price premiums of Hong Kong jewellery brands (overall and by city)
Chart: Price premiums of Hong Kong jewellery brands (overall and by city)
 

download excel

 


[1] The survey was conducted in May 2014,  covering the 10 cities of Beijing, Shanghai, Guangzhou, Hangzhou, Nanjing, Chengdu, Chongqing, Dalian, Shenyang and Wuhan. The total sample size was 3,000, with 300 consumers interviewed in each city. The 300 respondents in each city were divided equally among three age groups, namely 18-30, 31-45, and 46 or above.

Content provided by Picture: Wenda Ma
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