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China, US Consumers Loyal To Diamonds; Most Are Self Purchases

A survey in the autumn of last year, of diamond consumers in the US and China conducted by ALROSA and the research company GfK found among other things that an overwhelmingly large number of Chinese as well as a majority of Americans are interested in buying diamond-set jewellery. The survey revealed that most of the buying would be self-purchases and that they are loyal to the product segment.

The US is the world's largest consumer market of diamond jewellery and China the most rapidly growing one.

More than 4 thousand people in the 25-55 age group from the US and China, with average or above average income, who bought or received diamond jewellery as a gift within the last 12 months were questioned for the survey.

The results showed that 86 percent of Chinese respondents and 59 percent of respondents in the US plan to buy at least one piece of diamond jewellery next year. The survey also showed that 54 percent of these acquisitions in China and 51 percent in the US would be self-purchases.

Diamond jewellery buyers are not only loyal consumers who think a diamond is a good acquisition for themselves, they are also ready to share this opinion with their friends. According to the research, about 34 percent of respondents in China and 37 percent of those interviewed in the US said that if their friends sought their advice on a gift for a loved one, they would recommend diamond jewellery.

The survey also revealed that on the average, 44 percent of Chinese consumers and 38 percent of US consumers bought one piece of diamond jewellery last year, while 34 percent of Chinese respondents and 30 percent of US respondents said they made two purchases a year. Every seventh consumer in China and almost every fifth consumer in the US bought three pieces of jewellery a year.

Almost 73 percent of respondents in China and 71 percent in the US replied that they bought diamond jewellery for themselves over the last year. In less than 30% of the cases in both markets, diamond jewelry was purchased as a gift.

Of those who bought diamond jewellery as gifts, 60 percent said it was bought for a spouse. In the US, 14 percent said jewellery was bought as a gift for parents, while 12 percent said it was for friends. This compares with the 10 percent in China who bought diamond jewellery for a parent and 9 percent who bought it for a friend.

Significantly, 71 percent of gifts with diamonds in China and 57 percent in the US were bought for those in the 26-44 age group. Diamonds were given to women more often than to men — accounting for approximately 94 percent of the cases in China and 87 percent in the US.

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