What is the volume of sales of bridal jewelry so far this year?
Wu Feng Hu replies that total jewelry sales revenue in China in 2008 was 180 billion RMB, constituting a 10% growth as compared to the preceding year. During the first half of the current year, jewelry sales revenue has undergone an approximate 20% growth as compared with the same period in 2008. The forecast is for jewelry sales revenue to reach 216 billion RMB this year. He adds: “In China, on an average, 9 million new married couples tie the knot every year. If each of them buys one diamond ring for an average price of 5000RMB, this would bring 45 billion RMBs worth of diamond jewelry business to the market. If you consider that in 2009 the forecast is for 10% more couples to marry, which would indicate that the bridal jewelry business would also increase by the same percentage, total bridal jewelry sales revenue will exceed 54 billion.” Despite these impressive data, Commodity Online reports that the global economic meltdown is affecting the Chinese economy. According to Chinese go
