The Chinese people are famous for buying gold jewellery. In the past ten years, they have digested 30%-40% of the world's gold production every year, and regardless of quantitative easing or tightening, the curve of Chinese people buying gold jewellery has been rising.

However, the share of e-commerce in the gold and jewellery retail industry has been small. According to the “Golden Industry Market Analysis Report” of the Prospective Industry Research Institute, the most fierce battlefield of the gold and jewellery retail industry still concentrates on online channels, while gold online sales. The long-term share of the total amount is about 5%. Although the proportion of gold network transactions in the overall size of the industry has increased year by year, the overall share is still very low. If the current online shopping market in China accounts for 12.63% of the retail sales of social consumption, there is still much room for gold e-commerce.

黄金吊坠

Gold jewelry "traditional" enterprise that enters e-commerce in depth

Through the investigation of consumers, it is found that the e-commerce road of gold jewellery is progressing slowly, which is determined by the attribute of “golden jewellery”, the cautiousness of mainstream gold jewelers for “electric shock”, and people's consumption habits. For a long time, it seems that only to go to the physical store, the diamond ring, gold jewelry in the hands, the actual experience, rather than by unpacking a parcel of gold and jade, can really get a sense of security.

Nowadays, such a situation is changing, and the change is particularly evident as the gold of the main sales category. In recent years, with the change of people's consumption consciousness, the proportion of gold online trading volume to the overall scale of the industry is also rising year by year, and gold jewelers are gradually discovering the importance of gold in attracting passengers, "double eleven" every year. "618", people can always see advertisements such as gold price reduction and processing price reduction in the conspicuous position on the e-commerce platform. Chow Tai Fook, Zhao Jin Yin Lou, Lao Feng Xiang, Long Feng Jewelry... Various traditional gold and jewellery companies have entered the market in depth.

Take Chow Tai Fook as an example. In FY 2018, e-commerce sales accounted for 4.8% of Chow Tai Fook's retail sales in China. Chow Tai Fook, which has always left a traditional impression on people, has not been challenged by e-commerce. Instead, with the support and assistance of JD. The e-commerce platform has become an important stage for me.

What is changing is not only the awareness of consumers and businesses, but also the traditional gold, jewelry customer base and product circulation patterns.

According to research by Guotai Junan Securities, after 80s, 90s and even millennials, the main customer base of online gold jewellery has accounted for about 70%, although they have inherited the ancestor's gold purchase tradition, but the taste is not the same. . The aesthetic generation of the gold purchasers under the age of 40 and the Chinese aunts have determined that gold jewelers must change the paradigm that has been used for decades and introduce more products that are more in line with the tastes of young people. In this context, online gold jewellery is gradually beginning to be younger and more expensive.

Gold jewelry fast fashion brand sought after by young consumers

Nowadays, some brands with strong innovation and exploration spirit in the industry are also trying new gold jewelry sales models. Among them, the more typical representative is Xiaojinzhu APP.

Xiaojinzhu APP is an emerging gold jewelry fast fashion brand. Its products are mainly made of gold. With subversive design and new material fusion to subvert the traditional gold design concept, it will further break the gold and the main online consumption under 40 years old. The gap between the crowds.

At present, Xiaojinzhu APP has reached a strategic cooperation with many gold and jewellery manufacturers such as Jingyiye, Yuehao Jewelry, Ruijin International, Jinta Industrial, Jindachang, Mingfeng Jewelry, Baitai Industrial, etc., and directly presents the goods of the manufacturers. For consumers, it also allows manufacturers to directly get feedback from consumers. By eliminating intermediate links, Xiaojin Master APP maximizes the interests of consumers and manufacturers.

In addition, it is worth mentioning that most of the online gold jewelers are often not allowed to return or exchange goods for the sake of product quality and safety. However, Xiaojin Master APP not only has a national inspection certificate for every product, but also cooperates with professional organizations to provide repurchase gold services, which is an extremely intimate measure for consumers.

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