According to research by the UK’s National Retail Federation, the average cost of a pair of jewellery in the UK is £739.
That’s almost $9,000 (£5,400).
That’s well above the £450 average cost for a pair in Australia and $1,200 in South Africa.
In the US, the median price for a set of five jewellery stones at a department store is $2,400.
In China, a pair costs $3,400, according to data from the country’s Central Bureau of Statistics.
However, jewellery shops in China have traditionally been more expensive than those in the US.
In a study by the Pew Research Center, a majority of Chinese respondents said that jewellery sales were among the most expensive, and that the average price of a single piece of jewellery rose by 15% over the past decade.
The survey also found that Chinese consumers are increasingly looking to spend on personal items, as well as their home and car, as their incomes rise.
China has been facing a rise in the number of cases of “double-dipping” as a result of high inflation.
The country has also been experiencing a surge in its “price wars” as well, in which consumers seek out cheaper goods when they can.
In 2015, an investigation by the New York Times found that luxury jewellery chain Louis Vuitton was being targeted by Chinese shoppers who paid twice as much for the same product as the same brand in other markets.
One customer complained that the retailer had been “spending so much money” on a “charming pink and gold” clutch, even though he had already paid £2,000 for the “very similar” item.
“I think I’m spending twice as big on my clutch as I should,” he said.
The same shopper was also caught on video telling the company to “buy cheap”.
The shopper said: “You’re buying cheaper.
You’re not buying quality.
You have to buy cheap.”
The Louis Vuittons spokesperson said that Louis Vuits luxury line was currently not being targeted.
“As part of our commitment to supporting quality products and offering our customers a high quality experience, we have expanded our range of Louis Vuitons jewellery to include a number of new colours and styles, and are now offering a range of premium leather goods.” “
We will continue to work closely with customers to ensure they can enjoy the best value for their money,” the spokesperson added.
“As part of our commitment to supporting quality products and offering our customers a high quality experience, we have expanded our range of Louis Vuitons jewellery to include a number of new colours and styles, and are now offering a range of premium leather goods.”
What do you think?
Should jewellers in the west be allowed to charge more?
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