Part II：Trend of Consumption Upgrading
(I) Historical background and main features of the consumption upgrading
Consumption upgrading will be sustainable power and strong engine, which will be dominant in the future economic growth for a long time. Following and grasping the tendency of consumption upgrading, institutional innovation, technological innovation and production innovation are required to meet and create consumption demand, which is undoubtedly of great importance to enter into a middle and high level of the economic development.
The consumption upgrading of gold and jewelry attract much attention in such tendency. Gold and jewelry possessing both commodity property and financial attribute, is an integration of cultural collection, decoration and adornment, displaying individuality as well as finance and investment. Gold and jewelry are also closely related with the national economy and the change of consumer's income and values, having become one of the most dynamic new hot spot following the real estate and cars in China's resident consumption.
Gold and jewelry industry must achieve more in this round of consumption upgrading. The transformation of the social overall consumption structure brings a synchronous change to the jewelry market, as well, the consumption upgrading also has been regarded as the opportunity to get the jewelry industry out of the current dilemma. As the industry operation logic is reversed and redefined, reversely pulling upstream manufacturing industry through the terminal consumption upgrading will become an offensive move and accelerator to transform and upgrade industry and improve the quality and efficiency of the economy. Therefore, to challenge the consumption upgrading and grasp this opportunity, not only can directly promote the continuous release of enormous potential and space of domestic gold and jewelry market, also can give full play to the consumption leading role, so as to drive the transformation and upgrading of the gold and jewelry industry, and promote the sustainable, healthy and stable development of the gold and jewelry industry.
The post-80s and post-90s become the new consumption power of gold and jewelry
The data show that nearly 50% of the consumers at the age of 18-39 plan to spend RMB2001-8000 on jewelries in the coming year. These consumers also own the strongest wish to buy various jewelry materials.
At present, the "post-80s" and "post-90s" have gradually grown into the backbone force in Chinese consumption upgrade. The grandmas who ever rushed to buy gold have retreated to the back and the rich and willful "fairies" pick up the banner of gold and jewelry consumption. According to the statistics in survey result, "the highest percentage of consumers at the age of 18-29 have a monthly income of RMB3001-5000. However, among the consumers at the age of 30-39, those who have a monthly income of RMB5001-8000 account for the highest percentage. It can be seen that their income increases rapidly after working for 5-10 years. Apparently, the income of "post-90s" has a great potential of rising in the future, which, together with the relatively high marginal consumption trend, will produce a significant impact on boosting the consumption market. The middle class consumers in this age group increasingly focus on quality instead of cost performance. They are gradually replacing the "well-off families" and becoming the primary group that brands wish to cover, having a tremendous impact on the market.
National "second child" and "purchase limitation" policies release the jewelry consumption potential
据统计数据显示，中国目前有 4.3 亿个家庭，“全面二孩”政策正式落地是我国人口政策的重大调整，直接影响到我国的家庭结构，消费产业也在“二孩政策”新机遇下出现新变革，除了母婴用品市场，珠宝消费也将带来勃勃生机。
The statistical data shows that China has 430 million families currently. The formal implementation of "universal two-child policy" is a major adjustment of China's population policies and directly affects China's family structure. Facing the new opportunity of "second child policy", the consumption industry also undergoes a new change. Apart from the baby product market, the jewelry consumption will also bring vitality.
Predictably, the second child polity will affect the gold and jewelry industry in the coming years, especially bring new development of the style and design of babies' jewelry. How to gain the rapidly increasing consumption market of babies' jewelry will become one of the priorities of jewelry production and processing enterprises.
In addition to the universal two-child policy, the purchase limitation of houses and other policies also have a positive effect on stimulating the consumption, especially releasing the consumption potential of residents. Almost 70% respondents have no house loan and have a very considerable purchasing power for gold and jewelry. Over 50% consumers are willing to buy the jewelry at a price of higher than RMB 5,000.
Therefore, the consumption increase brought by national policies such as universal two-child and purchase limitation will stimulate the growth of gold and jewelry consumption market.
The sense of family is returning - jewelries should contain more emotional and cultural connotation
During the investigation, 57.9% respondents are willing to spend more time with their families, over 60% respondents give jewelries to their lovers and parents as gifts, over 30% respondents give to their children and another 13.94% respondents give to their friends...they treat the pursuit of a successful career as the lifelong objective of struggle and treat accompanying family members as their most important activity during the leisure time, which obviously reflects the returning of the sense of family.
A family is a cell of the society. The civilization and progress of families relate to the improvement of civilization degree of the whole society. For the jewelry industry, the first priority lies in designing, advertising and building up jewelries presenting the concept of inheritance. This is because more consumers are constantly deepening their understanding of Chinese traditional culture and throwing their sight on the jewelry handed down from ancient times featured by cultural concept, uniqueness and concept of inheritance. Some brand enterprises and well-known designers have been consciously designing and making jewelries different from those in mass production. Due to the unique style design, material selection and cultural logo, these jewelries have more cultural deposits and personal characteristics compared with the jewelries of popular styles and are suitable for collection and inheritance of families.
"Spend today's money to enjoy tomorrow's life" - credit consumption replaces the deposit consumption
数据显示，中国近 1.7 亿“90 后”中，超过 4500 万开通了花呗，平均每 4 个“90 后”就有 1 个人在用花呗进行信用消费。这种消费习惯的变化，在越年轻的人群中越明显。近 40% 的“90 后”把花呗设为支付宝首选的支付方式，比“85 前”高出 11.9 个百分比。同时，“90后”们的信用消费非常理性，爱花钱却并不任性。近七成的花呗年轻用户都能做到“月月有余”，每月花销控制在授信额度的 2/3 以内。
The data shows that among the nearly 170 million "post-90s", over 45 million have opened up the Ant Credit Pay and one in every 4 "post-90s" is using the Ant Credit Pay for credit consumption. The change of consumption habit is more obvious in younger people. Nearly 40% "post-90s" set Ant Credit Pay as the preferred payment mode, which is 11.9% higher than the "pre-85s". In addition, the "post-90s" use the credit consumption in a very reasonable manner. They spend much, but not willfully. Nearly 70% young Ant Credit Pay users keep "a certain balance every month" and control the monthly expenses within 2/3 of the credit limit.
成长在信用理念、信用应用不断普及下的“90 后”，对信用的认知和珍视程度也比“老一代”更强。从“90后”对珠宝首饰消费选择来看，这一群体的消费习惯呈现出明显的消费数量多、金额少，也就是“求潮不求贵”的特点。除了这一群体经济实力尚处于“蓄力阶段”，更与他们的消费习惯息息相关——讲求个性， 自己喜欢和能体现风格才是关键，懂得为品质买单。
The "post-90s" growing in the era that the credit concept and credit application are constantly popularized perceive and treasure the credit more than the "older generation". As the selection of "post-90s" in jewelry consumption shows, they present a consumption habit featured by the large number
and less amount, i.e., "seeking for fashion instead of luxury". Apart from staying at the "charging stage" in the economic strength, they have their own consumption habit that determining the above feature - pay attention to personality, treat their own flavor and style as the key and pay for high quality.
Private customization of jewelry enters the "civilian" era
At present, "post-80s" and "post-90s" have gradually become the main consumption force. They pay more attention to the personalization of jewelries, advocate the original and lay emphasis on design and wish the design of jewelries can reflect their own emotional sustenance better. Promoted by the wave of personalized consumption, private customization of jewelries has become the primary option of the trendsetters walking at the tip of fashion.
The customized jewelry is different from the jewelry in mass production due to its rareness and cultural and aesthetic penetration and has become the new hotspot. "Private customization of jewelry" is like the process of vitalizing the jewelry. The craftsman and designer not only endow the jewelry with rare value and exquisite skill, but also express the life attitude and value of a person. From selection of rare gemstone to selection of metal material; From design of style and line to technology integrated with personalized element, the real customized jewelry has its own imprint from the inside to outside and demonstrates a distinctive life attitude. In the meanwhile, the consumers can control the costs at any time, which help them obtain the jewelries with a better cost performance.
Categories of jewelries present a diversified trend
The flavor of consumer changes with the era. Upgrading the consumption demand against the younger consumption group is the top priority for the jewelry industry.
At present, gold, diamond and platinum remain the firstly considered categories of the jewelry consumers. This is mainly because the consumers are still relatively conventional in selecting the category of jewelry and prefer the categories with higher recognition and hedging feature. However, driven by the consumers' psychology and fall of golden price in recent years, the personalized jewelries are increasingly welcomed by the masses, which poses a potential threat to the traditional categories. The diversity trend of jewelries is gradually obvious.
Since 2017, the thick fashion color has been added to the gold and jewelry to meet the aesthetic habit of the younger generation. Mix-and-match style, ethnic style, simple style, etc. appeared in the design of gold jewelries. With the enhancement of design and fashion sense of the gold jewelry, more young people select to buy gold jewelries for themselves, both aesthetic and value-saving.
曾经一度被视为“老奶奶”的配饰的珍珠成为近两年大热的珠宝品类，在设计师天马行空的设计中大肆回潮，呈现出或个性或可爱或优雅的风格。同时，珍珠的形态在也不再拘泥于珠圆玉润，异形珠配饰格外抢镜；同时， K 金饰品就势崛起，不同于黄金的保值属性，K 金的核心在于设计，多变的颜色和个性化的设计使其正逐渐成为年轻人的新宠，18~30 岁年龄段的消费者占整个 K 金市场的39%。
The pearls which were deemed as the accessories of "old grandma" has become a hot jewelry category in recent two years, return to fashion rapidly with the unfettered design of the designer and presented personalized, lovely or elegant style. In the meanwhile, the form of pearl is not limited to round and smooth and pearl accessories of special shapes steal the scene; In addition, K gold jewelries suddenly rise. Different from the gold with value-saving attribute, K gold has its core in the design. Diverse colors and personalized design gradually make it the new favorite of young people and consumers at the age of 18-30 occupy 39% of the whole K gold market.
Content is still the key of marketing
The questionnaire shows that consumers obtain the product information through clearer and more direct channels. The primary manner is browsing in the shopping APP and brand website, but the manner to obtain product information through other indirect media platform is abandoned. Therefore, the traditional advertisement distribution channels are gradually shrinking. After undergoing the outbreak of broadcasting, VR technology, etc. one after another, the current mainstream content carriers include information, video, short video and broadcasting. The booming of diversified content carriers enables the constant upgrade of the consumers' consumption habit and preference.
Under the great environment of consumption and content upgrade and affected by the information transmission media, people's consumption concept and habit gradually change and the content-based shopping guide becomes another widely recognized marketing mode apart from the traditional hard sell and display. The consumers are more willing to pay for feelings and contents. The product story marketing mode is rising. The content-type product different from the advertisement mode can obtain more faithful users. On the other hand, users form the habit of paying for the high-quality contents under the guidance of demand and market. The form of content payment can gather many high net-worth groups. With the development of content ecology, a larger imaginary space will be created for realization on content.
Online content output and offline scenario experience
In the era of new retail, more people begin to think about the value of physical stores. The industrial experts consider that: physical stores have inherent advantages in experience, while the Internet technology can provide more convenient services for the consumers, so they complement each other. An increasing number of retailers begin to modify the offline stores following new scenarios constantly. Redefine the channel value through discovering the experience value of commodities.
In particular, some minority or circle-type consumption scenarios, such as personalized design workshop, buyer multi-brand store, theme club, etc. increase the viscosity of young consumer groups while cultivating new consumption demands.
在当前体验至上的消费环境下，重新定义零售，全渠道任意穿行的购物体验，带领消费者玩转新零售，搭建的 24 小时购物场景才能深受消费者喜爱。
Under the current consumption environment of "experience first", redefine the retail, create the shopping experience of randomly travelling through all channels and building up the 24-hour shopping scenarios, which will be loved by the consumers.
Brand era - find the position of "special"
Under the background of consumption upgrade, "minority" becomes the mainstream. The "minority" means a "unique" demand, not a minority jewelry brand. During the questionnaire survey, we found the millennial generation and "post-80s" are different from their elders and specially emphasize the "unique" and their own experience. Therefore, a jewelry brand, regardless of domestic or international brand and independent designer or affordable luxury, need not meet the flavor of all people, but should meet the demand of a certain user group and do the best. It must take advantage of its "uniqueness" to obtain the high recognition degree, viscosity and re-purchase rate of such user group.
The "special" "post-80s" and "post-90s" wish to use the consumer goods to demonstrate their own personality. The brand and experience touching the cockles of the heart and the spirit can give them more happiness and gain their payment.
Participation, interaction, intelligence - new direction of jewelry products in the future
The investigation shows that the consumers have a strong willingness to interact with the brand during the production and sales process of the jewelries. The demand for demonstrating the personality by the jewelry is being enhanced and the pursuit of the perceptivity, functionality, intelligence and interconnection of the jewelry is increasing. For the future jewelries, apart from the simple decoration attributes, the new demand such as functionality, practicability and intelligence have also been mentioned. In the future, the jewelry products with the characteristics of "participation", "interaction" and "intelligence" will cause the consumers' interest of purchase.
The sense of participation means allowing the customer to do something that he wants to do, but may not be able to do in the past and thereby increasing his sense of control. Provide the customers with the sense of participation by enabling the unique experience. In the past, the consumers bought fixed-style and standard jewelries. However, buying the jewelries with a sense of participation means creating a jewelry on your own and producing a thing belonging to yourself, Enjoy the unique experience.
(II) Performance of consuming behaviors under the consumption upgrading
(I) Gold serves as the mainstream product.
2015 年以来，在消费者已经购买过的首饰产品中，购买最多的是黄金材质的产品，占比达到62.7%；其次为铂金，占比28.5%；再次为K 金，占比27.7%；钻石及钻石镶嵌类的消费占比为20.2%；白银制品、彩宝及玉石镶嵌类和珍珠的消费占比相对较低，占比分别为18.6%、15.7% 和10.6%；消费占比最少的是包裹金制品，占比仅为7.8%。这组数据说明，在已经发生的消费中，黄金是绝对主流的产品。值得注意的是，K 金首饰也占到了一定的比例。市场中，K 金首饰已经占到了相当的份额。
Since 2015, among jewelries consumers have already purchased, the gold-related products rank at the top (standing at 62.7% of the total), followed by platinum (accounting for 28.5%), K-gold jewelries (accounting for 27.7%), as well as diamond and the related mosaic (accounting for 20.2%). Besides, silver products, colored gems and jade mosaic, as well as pearl, with a relatively-low proportion, account for 18.6%, 15.7% and 10.6%, respectively. The proportion of gold-gilded products, which is the least, is only 7.8%. This group of data indicates that gold, within the scope of consumers spending, is the absolutely mainstream product. It is noteworthy that, K-gold jewelries also account for a certain percentage. They have seized a considerable proportion of market share.
(II) Consumers over the age of 50 prefer bracelets.
数据显示，项链、戒指是消费者最喜爱购买的产品。同时30~39 岁的消费者购买项链和戒指的比例明显高于其他年龄层；50 岁以上的消费者购买手镯的比例相对较高。
The statistics have indicated that necklaces and rings are the favorite products for consumers. The proportion of 30 to 39-year-old lovers of necklaces and rings is significantly higher than that of other age groups; Bracelets enjoy a large following in the age group of 50 plus.
From a perspective of gender, in comparison with men, women are lovers of necklaces, pendants, earrings, bracelets, and such. By contrast, men prefer to channel their capitals into rings and ornaments. Since “a wedding ring” has become a precondition for a marriage, the proportion of men buying rings is relatively high.
(III) The brands originated from the mainland serve as mainstream.
Among the consumers behaviors which have been recorded, the brands originated from the mainland or some characteristic localities are the main choices of purchasers of gold and jewelries, accounting for 57.7% of the total products, with their counterparts from Hong Kong followed (of 44.7%). The proportion of consumers who have purchased international-branded products stands at only 11.5%.
Therefore, we can draw a conclusion that the mainland-oriented brands come out first in the market. However, we should also see the influence of the Hong Kong-based brands with a market share of 44.7%. It has been a long time since some Hong Kong-based brands gained a foothold in the mainland market; they have gained a widespread recognition among consumers, and served as an example for many mainland-oriented chain brands. To date, some of their experience in terms of training and management still merits reference from mainland-oriented brands.
(IV) Youngsters prefer international- and Hong Kong-based brands.
从不同年龄层来看，40~49 岁的消费者选择内地品牌/ 地方品牌的比例较高，选择国际品牌的比例相对较低。年轻消费者（20~39 岁）选择国际品牌和香港品牌的比例，明显高于其他年龄层。在国内市场，一些消费者已有国际品牌代表高端、香港品牌代表中高端、内地品牌代表性价比的思维定式。从数据中看出，如果想赢得年轻消费者者的心（他们也代表着市场的未来），珠宝零售企业们需要对品牌持续升级。
Seen from different age groups, consumers aged 40-49 prefer mainland/local-based brands, rather than international-oriented brands. Obviously, international- and Hong Kong-based brands enjoy a large following in younger consumers of 20-39 years old. In the domestic market, some consumers have a thinking pattern that these three kinds of brands have different characteristics： international brands - high-end; Hong Kong brands - mid- and high-end; mainland brands: better-value-for-money. The statistics have shown that jewelry retailers should renew their efforts in upgrading their brands before winning the hearts of young consumers (who represent an upward future of the market).
不同性别的消费者购买过的品牌的分布比例与整体消费者相似。其中，女性人群选择内地品牌/ 地方品牌的比例，高于男性4 个百分点；而男性人群选择香港品牌的比例，高于女性3 个百分点。
The distribution of brands purchased by consumers of different genders is similar to that of overall consumers. The proportion of female population who choose mainland/local brands is 4% higher than that of male, whereas the proportion of men choosing Hong Kong brands is 3% higher than that of women.
(V) The on-line jewelry transaction suffers from a low price.
目前，可供选择的在网络上购买珠宝的渠道很多。除几个大型电子商务平台中的旗舰店外，官网、微信公众号都是可购买珠宝首饰类产品的渠道。在有过珠宝首饰网购经历的人群中购买黄金珠宝类产品的花费主要集中在1000 元以内，占比20.3%。；其次为1000 元~2000 元和5001 元~10000 元，占比18.6%；再次为2001 元~3000 元，占比16.9%；花费在20000 元以上的消费者仅占3.8%。与实体平台相比，网络购买珠宝呈现成交价低的特点。在购买贵重的黄金珠宝类产品时，消费者对网络平台的信任度仍处于较低水平。
At present, there are many channels for on-line jewelry shopping. In addition to the flagship stores affiliated to several e-commerce platforms, the official website, and WeChat public number are available for the purchase of jewelry-related products. More often, the consumers, with the experience of on-line jewelry shopping, have their spending less than RMB 1,000, which accounts for 20.3% of the total. The next is RMB 1,000 to 2,000, along with RMB 5001 to 10,000, accounting for 18.6%. The third is RMB 2001 to 3,000, standing at 16.9%. The proportion of consumers who spend more than RMB 20,000 is merely 3.8%. Compared with physical platforms, on-line jewelry shopping shows its characteristic of low price. The consumers who purchase precious gold-related products and jewelries don’t have much confidence in on-line platforms.
(VI) Men enjoy a higher proportion of on-line jewelry shopping.
从不同性别来看，男性人群在网络上购买过黄金珠宝类产品的比例更高，高于女性5 个百分点。其中，女性人群在网络上购买黄金珠宝类产品的消费在2001 元~5000 元和20000 元以上的区间里占比高于男性；其他消费区间里，男性人群的占比高于女性。从不同年龄层来看，20~39 岁的消费者在网络上购买过黄金珠宝类产品的比例远高于40 岁以上的消费者。
Seen from the gender, the proportion of male population doing the on-line purchase of gold-related products and jewelries is even higher, 5 percentage higher than that of female. In comparison with men, there are more women who do the on-line shopping of gold-related products and jewelries, with their spending ranging from RMB 2001 ~ 5000 and of RMB 20,000 plus. As for other consumption ranges, men enjoy a higher proportion than women. Seen from different age groups, on-line purchase of gold-related products and jewelries enjoy a larger following in consumers over the age of 40, compared with 20- to 39-year-old consumers.
(VII) The fact that objects are not tangible poses great risk to on-line shopping.
A proportion of 47.8%: consumers are deeply concerned about the fact that such expensive gold-related products and jewelries, not tangible as they are, are brought on the Internet. A proportion of 39.6%: consumers maintain that on-line shopping cannot afford the hand-in-hand experience of wearing these jewelries, which is a pity. A proportion of 39.3%: consumers doubt whether the sellers are trustworthy. A proportion of 30.3%: consumers don’t have much confidence in after-sales service. As for on-line retailing channels, trustworthiness should be prioritized, in order to dispel consumers’ concerns and build up a sense of trust between sellers and consumers.
Benefitting from attractive price and home delivery, on-line shopping of gold-related products and jewelries enjoys much popularity among consumers who account for 12.9%. The next is 9.4%, as for the service pattern of exclusive enjoyment. The third is 6.2%, as for a wide range of gifts.
(VIII) Youngsters care more about personality and style.
不同年龄层的消费者对于网购黄金珠宝类产品的正面看法差异较为明显，30 岁~39 岁的消费者比较注重价格优惠，送货上门；其中20 岁~29 岁的消费者对独家尊享款式更为看重。从负面看法来看，20 岁~29 岁消费者最关心不能直接佩戴体验看效果。
People of different age groups hold a different positive view about on-line shopping of gold-related products and jewelries. 30 to 39-year-old consumers are more particular about affordable price and home delivery. In particular, consumers of 20 to 29-years-old prefer the service pattern of exclusive enjoyment. As for the negative point, consumers aged 20 to 29 are most concerned about the fact that on-line shopping cannot afford any hand-in-hand experience.
Seen from the gender, men attach more importance to attractive price and home delivery; on the other hand, a majority of them also worry about the intangible products and the poor after-sales service in the future. The female population pays more attention to exclusive enjoyment and generous gifts.
(IX) Mobile phones have exerted a certain impact on on-line shopping.
54.9% 的消费者表示，手机上网的便利性并不能增加其网上购买黄金珠宝类产品的频率；其次有33.6% 的消费者表示说不好；而11.5% 的消费者则表示会增加网上购买黄金珠宝类产品的频率。数据显示，手机上网的便利对网购产生了一定影响。但消费者在网上购买黄金珠宝类产品时，对实物、佩戴效果、商家诚信和售后服务等问题均有较大顾虑。
54.9% of consumers comment that notwithstanding the convenience of mobile phone’s access to the Internet, they are still loath to engage in the on-line shopping of gold-related products and jewelries. This is followed by 33.6% of consumers who torn between physical platforms and on-line outlets. While 11.5% of consumers comment that mobile phone’s access to the Internet will increase the frequency of their on-line purchase of gold-related products and jewelries. The statistics have shown that the convenient phone’s access to the Internet has brought some benefits to on-line shopping. However, the consumers who engage in the on-line shopping of gold-related products and jewelries are deeply concerned about such affairs as tangible objects, wearing effects, sellers’ trustworthiness, after-sales service, and such.
(X) The business of free care-keeping is more and more popular.
The people surveyed comment that there is an increasing need, which accounts for 29.9%, of care-keeping and cleaning, which is free of charge, among consumers. The second is trading in the old for the new, accounting for 28.4%; the third if free maintenance, accounting for 24.7%. The last is the re-purchase at a discounted price, accounting for 16.3%. In daily business, thanks to considerate after-sales service, there will be more and more frequent visitors.
(III) Features of regional markets under the consumption upgrading
In 2017, the staff members of China Gold Newspaper and Beijing Gold Economic Development Research Center coordinated a four-month survey in more than 200 key gold stores across Northeast China, North China, East China, Central China, Southwest China, and so on. By means of random data acquisition, they have got a detailed picture of the consumption pattern of local market, and, based on the practical reality, summed up the characteristics of regional consumption.
(I) The consumers in North China pay more attention to reputation and fame, and at the same time, they tend to frequent those brand-stores which they are familiar with.
In the northern part of China, the stores engaging in the sales of gold-related products have a larger area than their counterparts in the south; on the other hand, as for the mentality of consumers, there is also an obvious difference. When asked about the reasons why they choose to do shopping in a store engaging in the sales of gold-related products and jewelries, because of the developed service industries, the consumers in Southern China, different from other regions, are more particular about quality assurance, novel styles , and a broad range of selection, instead of activities and services. By contrast, the northeast consumers attach more importance to services and activities. The consumers in North China frequent those well-reputed stores. As for other aspects, rare difference can be found.
Consumers in different regions show their higher loyalty to those preferred stores engaging in the sales of gold-related products and jewelries; especially in North China, the consumers are more than likely to frequent those stores which they are familiar with. By contrast, the consumers in East China and Southeast China prefer a fairly broad range of selection.
(II) The Northeast consumers, who, in comparison with their counterparts in other regions, have much confidence in sellers, usually do shopping at various malls.
Generally speaking, consumers show their confidence in products introduction and service information provided by their preferred stores engaging in the sales of gold-related products and jewelries, and in their opinion, the information on products and service is consistent with their perceptions.
Seen from different regions, it’s often the case that the consumers in East China and Southwest China are not familiar with products advertisement, and also, they don’t participate in such promotions. The consumers in Northeast China comment that the products and service are entitled to high praise for the perfect integration of theoretical introduction and practical use feelings.
As for the channels through which consumers in various regions do the purchase of gold-related products and jewelries, we can see that traditional independent stores and dedicated sections for jewelry-related sales in large-scale malls are the most frequented destinations for consumers in the seven regions.
In addition, seen from the regional differences, the consumers in North China, East China and Southwest China are more likely to do the purchase in independent brand-stores, while their counterparts in Northeast China prefer dedicated sections for jewelry-related sales in large-scale malls.
Jewelries characterized with simplicity and fashionable styles enjoy high popularity among consumers across different regions. The Northeast consumers prefer jewelries characterized with cartoon patterns Jewelries with gorgeous styles are most pursued among the consumers in South China. In Southwest China and Northwest China, the retro style finds its audience.
(III) The consumers in East China are price-sensitive.
In different regions, the consumers are sensitive to the trustworthiness-related remarks of their preferred stores, such as price tag which is clear-cut, specifications on price labels, and reasonable price. Those stores suffering from a lack of visitors and a poor reputation are more than likely to do a bad job of consumers’ acceptance prior to sales, promise of after-sales service, as well as warranty items and period.
As for their preferred stores engaging in the sales of gold-related products and jewelries, the consumers in East China, price-sensitive as they are, are more particular about reasonable price. The consumers in South China are choosy about such affairs as promise of after-sales service, as well as warranty items and period. Thus, the sellers in this region should put more stress on after-sales service. The consumers in the Southwest are dissatisfied with consumers’ acceptance prior to sales. Thus, the sellers in this region should renew their efforts in the process improvement.
(IV) The consumers in South China, attaching more importance to innovation, are fond of Hong Kong-oriented brands.
Consumers give objective remarks on their preferred stores, which reflect the characteristics of excellent stores engaging in the sales of gold-related products and jewelries. An analysis of the characteristics of those stores wining the hearts of consumers across different regions reveals that brand, reputation and quality head the list. Seen from different regions, the consumers in North China focus on the workmanship of products sold in the malls. The Northeast consumers attach importance to favorable environment and considerate service of the malls. The consumers in East China and Southwest China relatively value trustworthiness and price (clear-cut price tag, and reasonable price). The consumers in South China are particular about novel designs and creativities. The consumers in Central China levy more emphasis on a broad range of products categories and considerate service. The Northwest consumers prefer products characterized with good workmanship and a broad range of selection.
此外，全国六大区域（华南例外）消费黄金珠宝产品品牌均以内地品牌比例最高，其次以香港品牌为主，国际品牌差距较大。2015 年以来，购买过的首饰产品中，华南区域消费情况特殊，80% 消费者购买的香港品牌，远大于50% 购买内地品牌的占比。
In addition, among all the brands of gold-related products and jewelries sold in the six regions (except for South China), the mainland-based brands come out first, followed by their counterparts headquartered in Hong Kong brands. There is a big difference between international-oriented brands. Since 2015, among various jewelries which have been sold, the consumption pattern in South China is exceptional. 80% of consumers prefer Hong Kong-based brands, where the number for mainland-based brands is merely 50%.
(V) The Consumers in Central China attach importance to distinct personalities of jewelries.
Consumers in all regions maintain that jewelries should have the functions of decoration and fashion. The consumers in Central China pay more attention to show their distinct personalities. The Northeast consumers, in particular, do not agree with the fact that jewelries serves as the epitome of taste and identity.
(VI) The sellers in Southwest China should coordinate some seminars to popularize the professional knowledge of gold-related products and jewelries, and consumers are more willing to acquire the related information on TV.
The consumers’ preferred stores, across different regions, engaging in the sales of gold-related products and jewelries, are more than likely to offer various service, such as after-sales service of cleaning and maintenance, goods packaging and recycling, trade-in, and so on. In the minds of consumers, the proportion of stores in East China and South China which offer such service as special security guard is relatively low, namely, less than 10%. However, the consumers in southwest and northwest believe that the proportion of local stores which coordinate some seminars to popularize the professional knowledge of gold-related products and jewelries is relatively small. Thus, the sellers should organize some activities, in order to increase consumers’ recognition of gold-related products and jewelries.
In addition, because consumers across different regions have great differences in living environment and communication habits, they tend to choose a relatively trustworthy medium for information acquisition. Therefore, the main channels for consumers to get a picture of gold-related products and jewelries are quite different.
电视/ 广播、微信公众号以及报刊杂志都是各大区域消费者品牌信息获取的重要渠道，其中西南、华北区域以电视/ 广播渠道了解较多，电视渠道具有动态效果，具有更大的影响力，适合塑造品牌形象；华北、东北、华东、华中区域通过微信公众号了解珠宝首饰的信息较多。
TV/radio, WeChat public number and newspapers and magazines are important channels for consumers across different regions to get a picture of gold-related products and jewelries. Among them, the consumers in Southwest China and North China prefer TV/radio channels, which are characterized with more dynamic influence, and are also suitable for shaping the brand image. In North China, Northeast China, East China, Central China, WeChat public number enjoys high popularity.
(VII) Promotion activities are most pursued by the Northwest consumers.
In different regions, consumers prefer similar Promotion activities - products, sold at a discounted price, are their first choice, with products characterized with a lower price and gifts followed. Relatively speaking, the Northwest consumers like gifts most; the well-known stores, according to the preference of consumers across different regions, coordinate various promotion activities.
此外，西北和东北消费者较少购买K金首饰。2015 年以来各大区域的各种材质首饰的购买情况和总体状况都保持一致，排名第一的是纯金，因其保值效果好，是大家最传统购买的首饰品类，各区域购买比例均过半。其次是铂金。在排名第三的K 金上，西北和东北区域的拥有率相对较低（分别是14.9%和15.4% ）
In addition, the proportion of the consumers in the Northwest and Northeast who do the purchase of K-gold jewelries is relatively low. Since 2015, the purchase of various kinds of jewelries sold in different regions has been consistent with the overall situation. Pure gold, benefitting from its high potential of appreciation, takes the lead. It, as the most commonly purchased kind of jewelry, accounts for more than 50% of the total sales across different regions. The next is platinum. K-gold jewelries, ranking the third place, have a relatively low ownership in the Northwest and Northeast regions, 14.9% and 15.4% respectively.
To satisfy the needs of international participants, custom service to provide English versions of Research Report on China's Gold and Jewelry Consumption Upgrading 2017, White Papers of China's Gold and Jewelry Consumption Survey 2017 and other research reports in this series published by the China Gold Press and Beijing Gold Economic Research Center will be launched; and third-party services like consultation on relevant Chinese market conditions and commissioned research in special field will also be offered.
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