Summary The retail market of jewelry, watches and accessories is anticipated to experience a CAGR of 13.12% over the forecast period, to achieve a sales value of CNY1,451 billion in 2020. Factors that positively drive the market include the expanding middle class investing in jewelry and watches as symbols of their higher status, coupled with their growing disposable income and living standards. The jewelry, watches, and accessories market constitutes 3.4% of total retail sales in 2015. Key Findings -The demand for jewelry, watches, and accessories in China is anticipated to experience a CAGR of 13.12% over the forecast period -A rising middle class with increased disposable income and altering lifestyles are driving retail demand and retailer's expansion plans in tier lll and tier lV cities will drive further growth -Per capita spending on jewelry, watches, and accessories is expected to grow at a CAGR of 12.53% in 2015-2020. -The online mode of retailing in jewelry, watches, and accessories sector is forecast to reach CNY190.5 billion by 2020, with a CAGR of 19.83% during 2015-2020 Synopsis "Jewelry, Watches and Accessories Retailing in China - Market Summary and Forecasts" " is a detailed sector report providing a comprehensive analysis of the emerging trends, forecasts and opportunities to 2020. What else does this report offer? -A thorough analysis of consumer trends changing economic and population factors -Both qualitative and quantitative insights and analysis of the shifting jewelry, watches and accessories retail dynamics from 2010 to 2020 -Sales of jewelry, watches and accessories through the following channels from 2010 to 2020: Clothing, footwear, accessories and luxury goods specialists; department stores; other specialist retailers; online; hypermarkets, supermarkets and hard-discounters; other general and non-specialist direct retailers; duty free retailers -An overview of key jewelry, watches and accessories retailers operating across China and their presence across distribution channels Reasons To Buy -Gain a comprehensive knowledge on jewelry, watches and accessories sector in the China retail market and develop a competitive advantage from the start of your supply chain -Investigate current and forecast behaviour trends in jewelry, watches and accessories category to identify the best opportunities to exploit -Analyze the recommended actions to align your marketing strategies with the crucial trends influencing the consumer behavior -Understand the fastest growing categories including jewelry, watches and accessories, with insights on performance across key channels from 2010, with forecasts until 2020 -Explore novel opportunities that will allow you to align your product offerings and strategies to meet demand by analyzing the vital economic and population trends, key consumer and technology trends influencing the jewelry, watches and accessories market -Analysis of key international and domestic players operating in the jewelry, watches and accessories market - including store counts and revenues that give you a competitive edge - identify opportunities to improve your market share
Table of Contents
1 Introduction 1.1 What is this Report About? 2 Executive Summary and Outlook 3 Market Context 3.1 A steady economy with major growth potential for retailers 3.1.1 China's economy is increasing despite a declining growth rate 3.1.2 Savings are always a top priority for Chinese 3.1.3 Employment shift from unskilled to skilled, rural to urban, manufacturing to service industries 3.1.4 Inflation rate remains as a major concern 3.1.5 Household consumption trebles driving spending power 3.2 Large population with growing prosperity makes China a big attraction for retail 4 Chinese Shoppers 4.1 From functional to emotional 4.2 More opportunity for niche brands and mass market retailers 4.3 Shopping - a leisure activity 4.4 Two major events drive retail spend in China 4.5 High adoption of smartphones and tablets for shopping 4.6 Counterfeiting forces consumers to trade up to premium for quality assurance 4.7 Tourism /travel increases awareness of international brands 4.7.1 China remains as the second largest Duty Free market in 2020 5 Doing business in China 5.1 Summary 5.2 Anti-corruption crackdown requires careful handling for foreign businesses 5.3 Complex licensing procedures a hindrance for foreign retailers 5.4 Favourable tax structure to encourage domestic and foreign investments 5.5 Impact of government regulations on the luxury market 6 Retail - Product Sectors 6.1 Product Sector Analysis 6.1.1 Jewelry, Watches and Accessories 6.1.2 Jewelry, Watches and Accessories Category Overview 6.2 Major Retailers 6.2.1 Jewelry, watches and accessories retailers 7 Appendix 7.1 Definitions 7.1.1 This report provides 2015 actual sales; while forecasts are provided for 2016 - 2020 7.2 Summary Methodology 7.2.1 Overview 7.2.2 The triangulated market sizing method 7.2.3 Industry surveys in the creation of retail market data 7.2.4 Quality control and standardized processes 7.3 About Verdict Retail 7.4 Disclaimer
List of Tables
Table 1: Custom Duty Rates and Consumption Tax Rates of Luxury Goods Table 2: China Jewelry, Watches and Accessories Retail Sales (CNY bn), by Channel Group, 2010-2015 Table 3: China Jewelry, Watches and Accessories Retail Sales Forecast (CNY bn), by Channel Group, 2015-2020 Table 4: China Jewelry, Watches and Accessories Retail Sales (US$ mn), by Channel Group, 2010-2015 Table 5: China Jewelry, Watches and Accessories Retail Sales Forecast (US$ mn), by Channel Group, 2015-2020 Table 6: China Jewelry, Watches and Accessories Retail Segmentation, by Channel Group, 2010-2020 Table 7: Key Jewelry, watches and accessories Retailers in China Table 8: China Exchange Rate CNY-USD (Annual Average), 2010-2015 Table 9: China Exchange Rate CNY-USD (Annual Average), 2016-2020 Forecasts Table 10: Verdict Retail Channel Definitions Table 11: Verdict Retail Category Definitions
List of Figures
Figure 1: GDP Value (US$ Billion), 2010-2015 Figure 2: Growth Rate of GDP (%), 2010-2015 Figure 3: GDP Value and Growth (CNY billion, %), 2010-2015 Figure 4: Forecasts for GDP Value and Growth (CNY Billion, %) 2015-2020 Figure 5: Gross Domestic Savings Rate as Share of GDP (%), 2005-2015 Figure 6: Share of Employment by Sector (% of Total Labor Force), 2005 and 2015 Figure 7: Unemployment Rate (% of Total Labor Force), 2005-2015 Figure 8: Inflation Growth Rates (%), 2005-2015 Figure 9: Household Consumption Expenditure of China (CNY Billion), 2005-2015E Figure 10: Household Consumption Expenditure of Major Countries (US$ Billion), 2015 Figure 11: Growth of Household Consumption Expenditure (%), 2005-2015 Figure 12: Rural and Urban Populations (millions) 2005, 2015 and 2020 Figure 13: Total Population and Growth Rate (Millions, %), 2005-2020 Figure 14: Population Split by Gender (%), 2015 and 2020 Figure 15: Population Split by Age Group (%), 2015 and 2020E Figure 16: Per Capita Spend on Retail (CNY), 2005 and 2015 Figure 17: Per Capita Spend on Retail by Age Group (%), 2005 and 2015 Figure 18: The Changing Chinese Shopper Figure 19: Chinese New Year sales 2011-2016 Figure 20: Single Day sales 2010-2015 Figure 21: Smartphone users and penetration in China 2014-2019e Figure 22: Top 10 Tourist Destination for Chinese in 2015 Figure 23: Major Cities with High Spend on Retail Figure 24: Top 10 Duty Free markets by value, 2015 and 2020 (US$ billion) Figure 25: Key Components of Doing Business in China Matrix Figure 26: Individual Income Tax and Enterprise Income Tax Rates in China Figure 27: Key Market Entry Requirements for China 2015 Figure 28: Share of Jewelry, Watches and Accessories in overall Retail 2015 and 2020 Figure 29: Retail Sales Value and Growth (CNY Billion, %) of Jewelry, Watches and Accessories 2015-2020 Figure 30: Spend per Head on Jewelry, Watches and Accessories 2015 and 2020 Figure 31: Online Spend in Jewelry, Watches and Accessories 2015-2020 Figure 32: Online Share of total Jewelry, Watches and Accessories Spend 2015 and 2020 Figure 33: Spending per Channel in Jewelry, Watches and Accessories (%) 2015 and 2020 Figure 34: China Jewelry, Watches and Accessories Retail Sales and Forecast (CNY bn), by Channel Group, 2010-2020 Figure 35: The Triangulated Market Sizing Methodology
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