Diamond retailers are paying attention to the booming Chinese diamond market. The country’s purchasing power is growing at explosive pace. In recent years the demand for diamonds and the appetite for shining stones is greatly increased. The Diamond Administration of China (DAC) states that China is the second large diamond buying nation worldwide (after the US). Moreover, experts estimate a 15 percent annual growth over the next years.
Diamond business opportunities
As China gets more wealthy, it is looking to diversify investments and diamonds stand out as a good hedge against inflation – however, caution is advised. Therefore both small diamond traders and giant market players invest in the country and open stores in big Chinese city as Beijing and Shanghai. In general, all luxury goods are booming over there. The annual gross domestic product per capita has increased to $ 4,000. Some experts claim that China could overtake Japan in the next years in the consumption of luxury goods.
The Chinese demand
Diamonds are in demand for different purposes: for wedding rings, for presents or as an investment. However, people don’t only want to possess a diamond, they are also interested in knowing more about the stones. Some of them are looking for a specific stone or specific quality. Also, trust and friendship with consumers are important factors in the diamond world.
The scale of China’s diamond demand has caught the market! The number of diamond traders is increasing and competition works encouraging.
Choose the right diamond dealer, that has an eye for quality and unique diamond pieces.
Don’t forget to check out Diamondland, that has exquisite relationships in the Chinese diamond sector.