Jewelry Spending in China Improves in 2025 Despite Luxury Market Pressures

Bain on China’s more selective luxury consumer and what it means for brands

Bain & Company’s latest report ‘The 2025 Chinese Personal Luxury Goods Market’ showed that the Mainland Chinese personal luxury market shrank by a more moderate 3–5 per cent last year, after contracting sharply in 2024.

Jewelry Spending in China Improves in 2025 Despite Luxury Market Pressures

According to a recent report by Bain & Company on the luxury goods sector, spending on jewelry in China declined between 0% and 5% in 2025, marking a notable improvement compared to the sharp drop of 15% to 20% in the previous year, amid rising gold prices.

Bain: Jewelry Sees Improvement in China for 2025

Jewelry spending declined between 0% and 5% in China in 2025 amid rising gold prices, an improvement from the 15% to 20% drop the previous year, according to a recent luxury report from Bain & Company. “Consumers, particularly those focused on value preservation, continued to gravitate to jewelry purchases, especially fine jewelry,” Bain commented. “The increasing price of rare metals also reinforced the asset value represented by jewelry.” Watc…