Recently, many young people on social platforms have made their posts about processing physical gold bars into gold jewelry in gold processing shops, and many people have also expressed their desire to follow them in the comment area. As you can see, the gold boom continues.
According to the World Gold Council's 2022 China Jewellery Market Trend Insights report, the gold market is considered to be the largest wedding demand, actually contributing only 19% of sales.
Under the wave of self-pleasing consumption, the overall sales of the gold market have skyrocketed. According to the relevant data of the Whale Staff e-commerce data analysis platform, in 2023, the annual sales volume of gold on the Jingdong platform will be 5.7 million+, a year-on-year increase of about 65%, and the sales volume will be nearly 10.6 billion, a year-on-year increase of about 104%.
*The data comes from Whale Advisor - Industry Trend Analysis (obtained and counted from public sources, data is for reference only)
From the perspective of the consumer market, the hot-selling categories of gold jewelry mainly include gold bracelets, pendants, chains, bracelets/anklets, and gold chains, and the sales of the five major categories in the market account for more than 10%.
Gold bracelets are the number one category in the best-selling list, with an annual sales volume of 250,000+ and an annual sales volume of 2.1 billion+, accounting for about 20% of the market. In 2023, the annual sales volume of gold pendants will exceed 1.7 billion, accounting for about 16% of the market.
In the case of soaring sales in the market market, the annual sales of various sub-categories in the market have shown an upward trend, among which, the first place in sales growth is the gold set chain. According to the data of Whale Staff, the annual sales volume of the gold chain was 410,000+, a year-on-year increase of about 1759%, and the annual sales volume was 1.5 billion+, a year-on-year increase of about 2259%.
*The data comes from the Whale Advisor - Category Ranking Analysis (obtained and counted from public sources, the data is for reference only)
From a brand perspective, the two brands with a high market share in the gold market are China Gold and Chow Tai Fook. Among them, the annual sales volume of China gold is 770,000+, with an annual sales volume of nearly 2.2 billion, accounting for about 20% of the market, and the annual sales volume of Chow Tai Fook brand gold is about 590,000, with an annual sales volume of about 1.2 billion, accounting for about 11% of the market.
Secondly, Chow Sang Sang, Liu Liufu, Chow Tai Sang, Luk Fook Jewellery, and Hong Jin Yin Zhong are all hot-selling brands in the gold market, and these brands account for more than 5% of the market.
In addition, from the perspective of the growth market, the TOP10 brand has a large sales increase is Xinjin, which ranks eighth in hot sales, with an annual sales volume of 170,000+, a year-on-year increase of about 864%, and an annual sales volume of about 370 million, a year-on-year increase of about 754%.
*The data comes from the analysis of Whale Advisor - Brand Ranking (obtained and counted from public channels, the data is for reference only)
Today, under the influence of self-pleasing consumption, the gold rush continues. As a brand, in addition to arousing consumers' emotional resonance in marketing and working style, we cannot also ignore the basic elements of product quality, price and service. Only by improving the competitiveness of products in an all-round way can we be favored by more consumers.
The data of Whale Staff comes from public channels, and the data acquisition and statistics may be incomplete, which is for reference only.
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