China continues to be the leader in the Asian online jewelry market, a latest industry report has revealed. The reason, according to the report, is the country’s large Internet penetration and consumers’ rising disposable income.
The industry report titled, “Asia Online Jewelry Market Outlook to 2019 – Driven by Lucrative Discounts and Raising Online Buyers” was commissioned by Ken Research Private Ltd. The report has comprehensively analyzed the different aspects of Asia’s online jewelry industry to bring out the final results. The report has also studied jewelry market segmentation based on different types of jewelry, such as metals and gemstones. India, Japan, Singapore, Indonesia and China have been studied to understand the market share and competitive landscape.
The report revealed that there is a considerable rise in online jewelry sales in lower tier cities, though security concerns continue to hinder buying habits. The report also revealed that most of the players are operating their online stores through marketplaces such as Tmall and Tencent.
India is following China closely, said the report. The extensive advertising campaigns run by the major players are driving Indians towards online jewelry shopping, the report added.