According to the latest data released by the World ** Association, consumer demand for gold jewellery in China was 148t in Q4 2023, down 4% from Q3 but up 17% from a low base in the same period in 2022. Q4 demand pushed total jewellery consumer demand in 2023 to 630t, up 10% y-o-yThis is mainly due to the recovery of China's economy, the increasing consumer desire to preserve value and the growing demand for wedding jewellery
And in the retail market, which type of jewellery is more popular with consumers?
According to the 2023 China Jewellery Retail Market Insights published by the World ** Association, products weighing less than 10g and less than RMB2,000 contributed the most to jewellery retailers' sales.
Lightweight 24-carat hard gold jewellery and smaller gold jewellery products perform better than other categories of products with reasonable labor costs
At the same time, the World Association has also taken note of the emergence of a "wholesaler-manufacturer-consumer" sales model, whereby consumers buy jewellery products directly from wholesalers and manufacturers to avoid additional costs. The key drivers of these phenomena are uncertainty over income growth, soaring domestic gold prices, and a consumer mindset that seeks to preserve value.
Everybody is watching
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Tonight, oil prices are going to adjust!
**: Financial Times client.Reporter: Liu Yanchunzi.
Editor: Yunyang.
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