Positive Reception from Chinese Consumers
Amidst post-pandemic uncertainties, Chief executive Sean Gilbertson disclosed that the new research reflected an unprecedented demand for rubies as it symbolizes protection, prosperity, and passion. The report unveiled an insatiable thirst for rubies, presenting a unique opportunity for gem producers.
Gemfields’ marketing and communications director, Emily Dungey, noted that Chinese consumers exhibited a fervent passion for rubies, citing the gemstone’s symbolism of protection, prosperity, and passion.
Market Preferences and Potential of Ruby Products
According to the report, Chinese consumers exhibited a distinct preference for rubies, aligning with the gemstone’s aesthetic symbolism within their culture. The responses from “What does ruby mean to you?” revealed an association with “wealth and prosperity,” “tastefulness,” and a distinctive “Chinese” character, highlighting the gemstone’s resonance with traditional Chinese culture.
The research also indicated potential for innovative ruby product applications, such as personalization and customization, aligning with the diverse preferences of Chinese consumers.
Identifying Consumer Segments and Knowledge Gap
The report identified three key consumer segments in the Chinese market, highlighting the nuanced preferences and inclinations towards rubies. These segments include Neo-Socialites, Aesthetic Appreciators, and Chinese Culture Devotees, each demonstrating unique interactions and perceptions towards rubies.
However, Gemfields acknowledged a knowledge gap within the Chinese market, emphasizing the consumer demand for greater transparency regarding pricing, certification, mining, and processing. The available information primarily stemmed from brand representations and jewelry influencers on social media, underscoring the significance of enhanced transparency and information dissemination within the market.
Gemfields’ Leading Position and Operations
Gemfields, renowned for its operational excellence, owns and operates the Montepuez mine in Mozambique, recognized as the world’s wealthiest known ruby deposit. Additionally, the company manages the Kagem emerald mine in Zambia, contributing over one-fifth of the world’s green gemstones, solidifying its prominent standing within the gemstone industry.
