ALROSA: Polished Diamond Jewellery Demand Was Positive In Q1
ALROSA: Polished Diamond Jewellery Demand Was Positive In Q1.ALROSA’s experts analysed data of retailers and the states’ national statistics on polished diamond studded jewellery demand in Q1 2018 and concluded the demand was up 7 percent (on y-o-y basis) in the key consuming markets worldwide.
The main drivers for this upswing were an increased interest among consumers and the changed currency exchange rates (all figures have been modified in the Dollar equivalent).
Diamond jewellery sales in North America including USA and Canada rose 5 percent. The results of 2017 indicate the region made up 53percent of total global jewellery sales in volume terms.
There was an 11 percent rise in the diamond jewellery sales in Q1 2018 in the Asia-Pacific Region, helped by the rise in sales in Mainland China, increased tourist demand in Hong Kong and South Korea. These markets made up 20 percent of the share of the world’s polished diamond jewellery demand in 2017.
India’s sales were stable in Q1 2018. There was a slight drop in sales in ‘small networks and separate shops’, ALROSA noted. The large jewelry networks witnessed a rise in sales.
In Europe, in dollar terms, sales were 14 percent up owing to the positive effect from strengthening the Euro positions. Japan witnessed a 7 percent rise in diamond jewellery sales in the quarter under consideration, driven mainly by the local people and demand stands as stable. The sales environment was positively influenced by weakening of the Yen against Chinese Yuan, helping spur tourists’ demand.
There is a 13 percent rise (on y-o-y basis) in the overall global luxury market in Q1 2018. The Asia-Pacific Region countries have demonstrated the biggest growth in this – of 20 percent and in Europe by 18 percent.