Consumption in the epidemic has declined, how did jewelry jewelry increased?

It is easy to find on the street, and it is easy to find that it is now a time that is close to "everything to rise." Not only the price of commodities such as crude oil and iron ore in the financial market is located at a high level, and even the oily and salt vinegar in the supermarket secretly adjusts the plateau price through the name of the promotion.

In this case, jewelry jewelry manufacturers could not stand, and they joined the army of price increases.

Japanese jewelry dealer Festaria (special place)

Japan's jewelry dealers 4 ° C raised the price of the ring and necklaces such as the rings and necklaces by 3.5 % in June. This is the first price increase in the company for 7 years since 2015. Another jewelry dealer Festaria (special place) has a larger price adjustment, with a price of 10%to 15%of the 20%to 15%. Japanese jewelry dealers said their price increases only followed the pace of European and American jewelry manufacturers. The price of some products in Tiffany's products in 2021 rose 7%to 13%compared with 2020, and the proportion of silver products with an average price of less than $ 530 was also cut. This year Tiffany's price has further risen. Previously, Cartier also stated that the rise in price of "mild" will partially offset the impact of the appreciation of the US dollar, and Cartier's potential prices may rise between 3%and 5%.

Although from the global perspective, the demand for jewelry in the first quarter of this year has dropped by 7%, but the number of hot and cold is hidden behind this number. If it does not include China and India, the demand for jewelry in other parts of the world will increase by 7%year -on -year. Although the Indian market decreased by more than a quarter of the year -on -year decrease, European gold jewelry demand has recovered strongly year -on -year, and demand increases by 14%, of which the fastest growth in the United Kingdom has even increased by more than 30%. The unit price of jewelry jewelry in the European market is much higher than that of the Indian market. Another result of the recovery of mid -to -high -end jewelry is better than low -end jewelry. The latter faces the dilemma of sales. Although there are signs that low -income consumers are feeling the pressure brought about by the highest inflation in decades, the increase in prices of the entire economy has not stopped the love and investment in jewelry. In this context, there are three driving forces for jewelry to add prices.

01

First of all, the price increase of jewelry dealers is to offset the pressure of rising costs.

At present, rising from currency fluctuations to materials, transportation and labor costs is impacting the original price system of the jewelry industry. For example, the largest source of diamonds in the world is discharged by some jewelry vendors. Replacement of supply sources, so the price of diamonds has been raised in the short term. Although the gold, platinum and diamonds used as raw materials for jewelry commercial materials only account for part of their fixed costs, these raw materials are indeed increased prices.

Tiffany Global Brand Spokesperson Gu Ailing

Moreover, in addition to the main raw materials such as precious metals and jewelry, the prices of auxiliary materials in jewelry production are also rising. For example, the price of resin has risen by 12%and the price of packaging boxes has risen by 6%. Since the beginning of this year, the overall cost of jewelry jewelry has increased by more than 7%to the highest level in 30 years. Moreover, the depreciation of the euro and the yen has brought additional pressure on the jewelry producers in these areas since this year. In this case, the increase in the price of jewelry dealers is a common means to transfer costs and maintain profit margins. Many industries have adopted this way, and the jewelry industry only follows. Of course, there is another way to disguise the cost of transfers in other industries. For example, the price of potato chips does not change, but in fact, the weight has shrunk by 10%. It can be understood that the authentic jewelry jewelry cannot use this "dark" method to offset costs, so the price increase of terminal sales products has become the only choice.

02

Third, price increases are also the inherent needs of the high -end product pricing system.

High -end jewelry raising the price on a regular basis is an important means to maintain its "pattern". From the perspective of merchants, the price is an important means for high -end jewelry brands to maintain the image. Many brands have long been used to maintain costs and images through regular price adjustment. After the outbreak of the new coronary pneumonia in 2020, the supply chain and inflation problems caused by the epidemic caused high -end jewelry prices to increase the price more frequently. In fact, not only jewelry, other luxury goods vendors have also frequently increased their prices recently. For example, Chanel has increased the price of some of its handbags by more than 50%. Compared with handbags, the price adjustment of jewelry dealers is not so aggressive.

03

In addition, the strong demand for consumers also gives the prices of jewelry merchants.

From the perspective of consumers, high -end jewelry has the attributes of anti -inflation and risk aversion, so it is sought after. The high -end jewelry market shows huge toughness. As inflation rises and the geopolitical situation is tight, it is considered to be the increase in gold demand for safe assets, which has an impact on jewelry prices.

Cartier actively expand online business

Takashima House in Japan increased by 26.8 % year -on -year. Driven by high -priced products such as jewelry jewelry, Sanyue Ishidan's existing store sales in May increased to twice the same period of the same period last year. The company believes that jewelery and other "demand for snap -up before price increases."

The increased consumption power of young consumers that jewelry dealers value, and also gives more target customers with higher prices. Whether it is Tiffany or Cartier, in recent years, it has been digging the "millennial generation" client group, that is, people born between 1981 and 1996. Through the release of online advertising and the expansion of online sales -the proportion of online sales in 2021 accounted for Cartier's global sales from 1%in 2019 to 9% -high -end jewelry dealers are trying to get rid of the previous stereotypes and build themselves to build themselves Become a brand as young as possible. At present, this younger strategy has been partially successful. Cartier, known as 65%of the customer base, belongs to the "millennial generation". This group consumption is more active and the price is not so sensitive. Therefore Part of the results of younger transformation before harvest. The choice of prices in jewelers has gained a huge return on financial data, and with the general recovery of global jewelry demand since the second quarter of this year, especially the recovery of the Chinese and Indian markets, the situation facing jewelry merchants will be further improved. Cartier believes that the Chinese and Indian jewelry markets will rebound and help maintain the global demand for luxury goods, and in the next five to ten years, the Asian market "may have the greatest growth potential." When emerging markets such as Asia began to recover, the jewelry jewelry chamber of prices will usher in a new "harvest season". After all, the epidemic that causes a weak market will eventually retreat, but the price after rising is difficult to call back.

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