The hottest shop in the Spring Festival: It was robbed by young people and sold for 280 billion!
What is the hottest during the Spring Festival?
Then we have to see what the people are most willing to spend their blood on.
Therefore, compared with Spring Festival couplets, fireworks, firecrackers, melon seeds and peanuts, etc., gold should be the biggest hit in the Spring Festival.
A gold store in Hangzhou was closed with a guardrail due to too many people entering the store.
What's even more exaggerated is that Fat Donglai, which has been open since the fifth day of the Lunar New Year, people flocked to buy gold, resulting in the counter opening for 15 minutes and the start of current control.
There are also gold shops that are so busy with offline business that they can't be idle for a moment, so they can't temporarily close online consultations.
"It's like buying cabbage, there is a queue at every store, and it can be said that there is no service experience at all. A customer who spent money at a gold store in Shanghai said.
But this year is different.
That is, the crowd of people who buy gold is full of young people.
According to the "2023 Jewelry Industry Trend White Paper" released by Tmall, gold jewelry consumers are mainly women aged 18-34, and the post-00s are especially enthusiastic about consumption.
Helped by young people, total demand for gold jewellery in China reached 630 tonnes last year, up 10% y-o-y, and jewellery spending reached a record high of RMB282 billion.
On the surface, young people are finally realizing the value of gold.
But unconsciously, they were also cleverly manipulated by the gold store.
Sell 1000 gold bars in 1 day,
The shopkeeper's voice was hoarse
Young people's dedication to gold has long been traced.
"Once my husband makes me angry, I buy a golden melon seed. "Save a few gold beans at a time and save a gold bracelet to amaze everyone. This kind of financial management story of saving "golden melon seeds" and "golden beans" is not uncommon on social platforms such as Xiaohongshu and Douyin.
According to the 2022 China Gold Jewellery Consumption Industry Consumer Insights Report, from 2016 to 2021, the proportion of young people buying gold has increased from 16% to 59%, making it the top of the list of gold jewellery consumption potential among all age groups.
In the past two years, this enthusiasm has continued unabated.
On the one hand, online gold consumption is doubling and skyrocketing.
During last year's Double 11, according to relevant data, in the first week of JD.com's Double 11, among the buyers of gold jewelry, consumers aged 26 to 35 accounted for 57% of the turnover, an increase of nearly 15 times compared with the same period last year, and the turnover of gold jewelry for consumers under the age of 25 also increased by nearly 9 times year-on-year.
Alipay data also shows that during the recent Wufu Festival, the sales of gold jewelry doubled month-on-month, and gold continued to occupy the top spot in the "Wufu New Year Festival".
On the other hand, offline is overcrowded, and sometimes the scene is comparable to an aunt rushing for free eggs.
Previously, there were media reports that before the Spring Festival, the gold buying team in Shanghai City God Temple had turned three corners, and some people bought more than 200,000 yuan of gold jewelry in one go.
To make matters worse, a gold shop in Shanghai sold more than 1,000 gold bars in one day.
A reporter interviewed a consumer in Shanghai, who said that there was a familiar shopkeeper who could only type on WeChat, and there were too many customers, and his voice was so hoarse that he couldn't speak.
This excitement is also being staged in other cities at the same time.
According to a gold jewelry practitioner in Beijing who visited Inner Mongolia, Shandong and other markets, this year more and more jewelers have switched to selling gold or increased the category of gold sales, and there are jewelry cities where gold can sell a kilogram a day, while diamonds may not be able to sell a few days.
In Shenzhen, a store owner in the Shuibei Gold Wholesale Market said that in early January this year, his store launched a new gold mobile phone sticker for the Year of the Dragon's mascot on the online platform, which was sold out as soon as it hit the shelves, and pre-sale orders were scheduled after the Spring Festival.
In Qingdao, the manager of a gold specialty store said that a lot of investment gold bars were sold in the Year of the Dragon this year, and they were basically sold out about a month before the Chinese New Year.
There are also a large number of young people, in order to save money, have flocked to the gold shop.
According to Times Finance and Economics, before the Spring Festival, a gold shop in Beijing was full, and the scene queued for 3 hours. A master in the store said that about 1,000 grams of gold was played in the last day, and the monthly income was 900,000 yuan based on the average manual cost of 35 yuan/gram.
More and more young people have experienced a bloodline awakening in their attitude towards gold.
Sinking like crazy, 15 gold shops opened on 200 meters of road
The gold craze not only stems from the change of attitude of young people, but also cannot be separated from the promotion of gold stores.
They stormed the sinking market and opened stores like crazy.
According to CCTV financial reports, in Quzhou, Zhejiang, there are 15 gold stores on a street less than 200 meters long, and the person in charge of several stores told reporters that most of these stores have been opened in the past two or three years.
In Badong County, Enshi, Hubei Province, Wuxia Road, known as the "Golden Street", there are 6 gold shops, each of which is less than 20 meters away.
Such a grand occasion is just the tip of the iceberg.
The jewelry brands you know are almost all eyeing the wallets of small-town youths these days.
In 2018, Chow Tai Fook began to implement the New Town Plan. In FY2023, Chow Tai Fook opened a total of 1,631 new retail outlets in Chinese mainland, of which 509 new stores were opened in third- and fourth-tier cities in Chinese mainland and below.
In order to facilitate sinking, Chow Tai Sang also launched a sub-brand "Chow Tai Sang Classic" in 2022, and its store investment is smaller than that of a comprehensive store, and a store can be opened for 2 million yuan.
Luk Fook Jewellery revealed that the 300 stores it plans to net increase in the mainland market in FY2023 are mainly concentrated in fourth- and fifth-tier cities.
The gold stores fighting in the sinking market are not only chain brands, but also various regional brands.
For example, Cuihua Gold Store in Northeast China, Mengjin Garden in Shandong, Zhejiang, Hebei and other places, Ailian Jewelry and Ideal Jewelry in Sichuan and Chongqing.
Where the average monthly wage can't buy a few grams of gold, why are gold shops crowded?
Their motivation is, of course, profit. According to data from Frost & Sullivan, the size of the gold consumption market in third-tier cities and below increased from 102.4 billion yuan in 2017 to 174.2 billion yuan in 2022, with a higher growth rate than that of first- and second-tier cities.
Mengjinyuan, which has been specializing in the sinking market, has nearly 2,000 stores, and is currently sprinting for IPO, and it is also proving that the vast world has made great achievements.
From a consumer perspective, they do have a lot of needs waiting to be met.
In the county, whether it is engagement, marriage, childbirth, or birthday celebrations and anniversaries, people are keen on gold jewelry, believing that it not only retains its value, but also has an excellent meaning.
The gold jewelry that appears on these occasions cannot be a miscellaneous brand, and it is better to have a brand with a head and a face.
That's why brands have plenty of opulent stores in third-tier cities and below.
Only physical stores can undertake the consumption experience of gold and satisfy the psychology of consumers who pay attention to human contact.
In addition, compared with the stores in the first-tier cities, some brands in the county have cheaper gold prices and labor costs. In addition, gold shops are piled up, and some places have even started a price war, which is not only a great temptation for local residents, but also impresses many returnees during the Spring Festival.
In November last year, Chow Tai Fook and Lao Fengxiang employees of Wanda Plaza in Binzhou, Shandong Province, fought in a group for business, which shows the fierce competition.
Of course, gold shops let young people pay for them, not just opening stores.
The biggest killer move of the gold shop:
Destroy the argument of the golden old earth!
In 2016, only 16% of young women were willing to buy gold.
Expensive and old-fashioned, this is their impression of gold.
Today's young people's attitude towards gold has undergone a transformation of questioning aunts, understanding aunts, and becoming aunts. The expensive and old-fashioned nature of gold has also changed a lot - it has become more expensive and fashionable.
It has become more expensive, which has changed many people's thinking about gold: when they are rich, it is jewelry, and when they are down, they are entangled, and buying gold can be described as a "fixed investment in kind".
Becoming fashionable makes young people accept gold jewelry from the bottom of their hearts.
In order to make young people feel that gold is fashionable, gold shops have put a lot of effort into it.
Increasing the intensity of marketing new concepts is their most common routine.
For example, the trend of saving "Golden Beans" is indispensable for the marketing of gold stores.
According to Taobao data, in 2021, only 3 Shuibei Taobao merchants were selling Jindoudou Beans, and in 2022, almost all Shuibei online merchants have put various Golden Beans products on the shelves.
There are also marketing engraving, inlay, enamel and other crafts, and the gold shop is even more diligent in this regard.
On the one hand, it can cater to the aesthetics of young people, and on the other hand, it can also blur people's perception of gold "value preservation" and earn a premium.
There are only twenty or thirty stores in the typical old-fashioned gold with "ancient gold" as the selling point, but between 2020 and 2022, its operating income has grown at a compound growth rate of more than 20.2%, from 896 million yuan to 1.294 billion yuan. At the same time, its gross profit margin has been stable at about 40%, far exceeding the industry level.
In addition to the new concept of marketing, another major routine of the gold store is to do beauty innovation.
In the past, the big gold chain was exclusive to local tyrants.
Today's gold jewelry, not only has the design become trendy, but also learned the trendy set, and the co-branded and seasonal models have emerged in an endless stream, directly poking at the aesthetic points and collecting habits of young people.
This year is the Year of the Dragon, and the counters of gold stores are full of "Dragon Annuity", and there is no shortage of cute jewelry and Internet celebrity styles.
On weekdays, major brands also take great pains to get younger.
For example, Chow Tai Fook has launched IP co-branded products such as Ultraman, Crayon Xiaoxin, and Sanrio.
What's even more outrageous is that there is also Chow Tai Fook "roast duck".
Chow Sang Sang and Bubble Mart's MOLLY co-branded, as well as One Piece gold jewelry.
Chao Hongji also has Doraemon in charge.
The innovative design of appearance, combined with the development of various new products, including zodiac necklaces, daisy earrings, transfer bead bracelets, peace clasp rings, etc., all in all, today's gold jewelry not only meets the needs of young people in terms of aesthetics and meaning, but also has very communication attributes.
In this boom of gold consumption, some people follow the trend, and some people are tempted by the routines of gold stores, but it does not prevent them from understanding their own needs and taking advantage of the trend.
In any case, these gold also retain their value more than diamonds and other jewelry.
The key to impressing the broad masses of the people is that one is worthwhile and the other is liking.
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