Study On The Obstacles In The Development Of China's Platinum Inlaid Diamond Jewelry Industry Chain

The sustained and steady growth of the Chinese economy has provided a material basis for the increasing living standards of the people.The phenomenon of people's upgrading in daily consumption has been particularly prominent in recent years,which manifested as a consumption shift from plain precious metal jewelry products to diamond jewelry products in the jewelry market.The Chinese diamond jewelry market consists mainly of 18 K gold inlaid diamond jewelry and platinum inlaid diamond jewelry.In recent years,in the overall environment of the continuous growth of diamond jewelry market,18 K gold inlaid diamond jewelry has grown rapidly,while platinum inlaid diamond jewelry has not reached the average growth rate or even fell in the market.The problem lies in the entire platinum inlaid diamond jewelry industry chain.As a global marketing organization dedicated to promoting the development of the platinum jewelry market,the Platinum Guild International has the obligation to help solve the problems that China's platinum inlaid diamond jewelry market is facing currently.However,due to limited resources,it cannot support to solve all the problems in the entire industry chain in the short term.It needs to put limited resources into solving the core problems.Based on the analysis of the information obtained from the practice survey using the industry chain theory,this paper finds that the main problems encountered in the development of China's platinum inlaid diamond jewelry industry exist in the midstream and downstream,namely manufacturers,retailers,salespersons and consumers.By analyzing the linkage between the barriers in each player,it is found that consumers can be influenced by the media and jewelry store salespersons;jewelry store salespersons are retailer's employees,all of whose recommendations are based on the company's strategy and policy to seek individual maximizing benefits;jewelry manufacturers' technology upgrades and product innovation drivers are based on their assessment of the ROI,which reflects the demand in the retail market,i.e.the volume of orders from jewelry wholesalers and retailers.Therefore,in the entire platinum inlaid diamond jewelry industry chain,the root cause of all the problems and solutions is concentrated in the jewelry retailer,which has become a key breakthrough to solve the development difficulties of platinum inlaid jewelry.