History has repeatedly shown mankind’s affinity with precious gems and shiny metals. From ancient civilizations to the modern era, wearing jewelry can be traced back millennia. Early humans used animal hide, bones, horns, beads, shells, and pebbles to make jewelry for different purposes, be it symbolic, religious, decorative, or as a way to express social status.
Times have changed, but jewelry remains an ever-present part of human life. Its use is consistently seen across various religions, cultures, class, and gender.
Today, the global luxury jewel market value has reached around $23 billion (€21 billion), and is expected to increase to $480.5 billion by 2025. The global demand for gold has risen to 4.4 thousand metric tons in 2019, from 2017’s 3.1 thousand metric tons.
Diamonds, arguably the most iconic gemstones in the industry, has a jewelry market valued at an estimated $82 billion worldwide. And with the growing popularity of lab-created diamonds, which are generally indistinguishable from mined diamonds, the demand is only expected to increase.
The lion’s share of the global luxury jewel revenue is credited to China, followed by the United States.
Best in Wholesale Price: China
If you search for the top wholesale jewelry suppliers in Asia, you'll find most of them come from China. These companies are known worldwide for selling fashion jewelry in bulk, at jaw-dropping factory prices.
Here are the most popular wholesale jewelry suppliers in China:
Price and speed: Chinabrands
On top of the list is Chinabrands, with 7 years of experience in wholesale supply and dropshipping. Favored for their affordable prices, worldwide shipping, and 24-hour processing time, it’s hardly a surprise they’re leaders in the industry.
There’s no minimum order amount, which makes them ideal not only for resellers, but also for buyers who want to purchase cheap fashion jewelry for their personal needs.
Trendy selections: JewelryBund
JewelryBund requires a minimum order of $80, and it takes 2-5 working days to process a purchase. They’ve been around for 8 years, with three jewelry factories in China, manufacturing and selling jewelry accessories to buyers worldwide.
They’re always on the lookout for emerging fashion trends in Asia and the West, keeping their style current and relevant.
Personalized design: Nihaojewelry
Nihaojewelry is one of the most reliable wholesale jewelry suppliers in Asia, with 28 years of experience under their belt. They have their own factory, and the Original Design Manufacturer (ODM) and Original Equipment Manufacturer (OEM) of several popular brands.
With ODM and OEM services, they can make the design you want produced, processed, and packaged without extra costs, helping you save money on design fees elsewhere. They require a minimum order of $100, with 3-8 days processing time.
Popular retailer sites Alibaba and AliExpress also sell wholesale jewelry. With buyer reviews and ratings, these platforms can help you make more informed buying decisions before choosing a seller to provide your wholesale jewelry needs.
If price is indeed your priority in shopping for wholesale fashion jewelry, China is the go-to supplier. However, these low rates come at a higher cost.
The True Cost of China-Made Wholesale Jewelry
China is in fact the second largest manufacturer and supplier of fashion jewelry in the world. In 2019, their expected export revenue is estimated to total $20.6 billion as they supply a massive market, both domestic and global. Unfortunately, this success can be attributed to competitive prices achieved through cheap and questionable labor.
Factories in the country dubbed as the Workshop of the World are under scrutiny because of claims of shady labor practices, which are widespread across various industries. Even the biggest global brand names are not spared the controversy. From Apple to Gucci, manufacturers based in China have been criticized by the media with accusations of unethical working conditions, including negligence on employees’ health and safety, salaries below the minimum wage, and extreme working hours.
Jewelry made in China may be affordable, but with the high human cost it takes to produce, are they truly a cut above the rest?
Beyond the Price Tag: What Today’s Buyers Truly Treasure
The manufacturing giant’s unethical labor practices can be problematic with today’s generation of jewelry consumers.
While older generations prefer the real-life engagement at the brick-and-mortar shops of known, established brands, millennials and Gen Z on the other hand, prefer the comfort and convenience of online shopping to get what they need.
Although it appears you can meet their needs easily with a user-friendly app, personalized products, multiple payment methods, speedy delivery, entertainment on demand, and automated processing, that’s actually not enough. Millennials and Gen Z aren’t like the previous generations.
With countless choices on the internet, younger shoppers are less loyal, and if they’re going to stick with a brand, it takes more than price and familiarity. Eager to make the world a better place, they want brands whose values and politics mirror theirs.
That said, businesses that are unwilling to commit to the values of today’s shoppers risk losing them. With greater spending power — a remarkable $143 billion — Gen Z are now in a position to demand more from brands.
Like millennials, Gen Z across Asia Pacific say they prefer sustainable consumption, eco-friendly products, organic foods, and ethical fashion. More than just premium shopaholics, they want companies that “show their personality and uniqueness” and “brands that set them apart,” according to a McKinsey report.
These Gen Z, tagged as ethical confidents, have a fluid relationship with brands, which means they’re more open and willing to try newer, smaller brands as long as they match their values.
54% of Gen Z say they want clothes produced sustainably, and 46% say they prefer used clothing.
In Australia, 28% of millennials and 39% of Gen Z state they’re willing to pay a premium for environmentally responsible products.
In China, 60% of the surveyed millennials and Gen Z say they’re actively looking for locally sourced produce to reduce the negative effects of their eating habits. In Japan, the new generation shares the same sentiment.
In Indonesia, 62% of Gen Z want natural, organic products, and 76% say they prefer environmentally friendly brands.
Going beyond ecofriendliness, 60 to 80% of Gen Z also say brands should be held accountable for their actions. Brands should also speak from an authentic place, with their values clearly articulated.
If you’re not yet listening, it's worth considering that 93% of parents state they ask their Gen Z children for shopping advice, influencing their household spending.
That’s a lot of power and influence.
Enter Indonesia
In the digital age, shoppers care about what your company cares about. If you’re looking for the best wholesale jewelry in Asia that can win the hearts and minds of the new consumer generation, you need to ask yourself: what does your company stand for? Does your brand reflect what matters most to your buyers?
Susila Jewelry is a wholesale jewelry company based in Bali, Indonesia. For more than 6 years, we’ve worked with many companies and designers worldwide to produce ethical fashion jewelry, empowering over 800 artisans who are mostly women of different religious backgrounds.
We strive to make a positive impact for our workers, clients, and the world around us. Let us know what you need for your wholesale jewelry needs and we’ll get you started in 4 easy steps. Contact us to learn more.