综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Industries

Millennials, online sales driving gold demand, says WGC

By Ren Xiaojin and Zhong Nan | China Daily | Updated: 2017-12-01 10:13
Share
Share - WeChat
An employee sorts items at a jewelry shop in Taiyuan, capital of Shanxi province. [Photo by Zhang Yun/China News Service]

Traditional retailers must reorient their strategies to keep pace with the dramatic changes in China's gold consumption trends, which is being driven by millennials and online sales, top industry officials said on Thursday.

The World Gold Council said there has been a resurgence in the demand for the yellow metal in the country. Demand for gold bars and coins rose 57 percent year-on-year to 64.3 metric tons in the third quarter, while gold accessories saw a 13 percent growth to 159.3 tons.

China was also the biggest contributor to global gold demand during the quarter.

Wang Lixin, WGC's managing director for China, said he has seen two significant changes in the shopping trend in China-the growing number of young consumers and the increasing online sales.

"We have seen a transition in younger consumers for fashionable stuff, especially for 18-karat gold products," said Wang. "The online sector has also witnessed dramatic growth from the second quarter of the year.

He said jewelry consumption had been lagging other commodities in online sales in the past, but a change is slowly taking place.

"Some leading brands have reported a five to even 10-fold increase in their online sales compared to last year," he added. "It is at the starting point of about 10 percent of the sales but it's growing, and in the coming two years we will see higher percentage of internet sales and younger buyers in China."

John Reade, chief market strategist of the council, said millennials treat gold differently compared to their parents and grandparents.

"One of the trends particularly in China is that they like to buy products with more design elements and have developed a liking for 18-karat products rather than heavy and pure gold," he said.

The changing habits in what they shop and how they shop have forced manufacturers to reposition themselves to maintain growth, in terms of building up brand awareness, enhancing modern designs and opening up online revenue streams, John added.

The shift in taste has also pushed the industry to upgrade, as Wang said many Chinese jewelry producers have already adopted machines with computer controlled programs to design not only 18-karat gold, but also 24-karat gold products for better and more personal design.

"Coupled with ongoing urbanization and rising domestic demand powered by the Chinese government's measures to shift the economy to an internal consumption-driven model, the market potential in the Chinese mainland, particularly in lower-tier cities, continues to be attractive to jewelry retailers of all sizes," said Yang Lixin, director of the gemological training center for China's National Gem and Jewelry Technology Administrative Center.

Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
房产| 临洮县| 广昌县| 香格里拉县| 庆元县| 普格县| 安龙县| 磐安县| 陆川县| 沈丘县| 双城市| 兰州市| 修水县| 大庆市| 萨嘎县| 自治县| 淄博市| 西乌珠穆沁旗| 台山市| 布尔津县| 洛宁县| 沧州市| 昌平区| 沭阳县| 乾安县| 馆陶县| 无锡市| 靖安县| 衢州市| 青海省| 潮州市| 彩票| 黄梅县| 孟村| 泰来县| 荔浦县| 博罗县| 龙山县| 菏泽市| 临颍县| 静乐县|