More and more gold and jewelry companies are actively exploring how to use the Internet, big data, live broadcast and other tools for intelligent new retail


The epidemic and gold prices: how will it affect the gold and jewelry industry?

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　　After the backward technology, lack of independent innovation, and impetuous and blind companies are eliminated, China's gold jewelry industry will usher in a new peak period of resource optimization and integration and industry standard development.

　　International gold prices have experienced great ups and downs this year, and the trend of gold prices has always affected the nerves of the capital market.

Data from the China Gold Association shows that in the first three quarters of 2020, the actual national gold consumption was 548.09 tons, a decrease of 28.66% compared with the same period in 2019.

With the sustained and stable recovery of the domestic economy and the rapid recovery of the wedding market, gold consumption has picked up significantly, and gold consumption in the third quarter achieved a 28.71% increase from the previous quarter.

　　According to data from the professional version of Tianyancha, there are currently more than 62,000 companies in my country whose names or business scopes contain "gold" and "accessories."

In recent years, the annual registration volume of my country's gold jewelry related companies has shown an overall upward trend.

From 2018 to 2019, the annual registration of gold jewelry related companies exceeded 10,000 for two consecutive years.

As of November 4, 2020, my country has nearly 6,400 new gold jewelry related companies this year.

　　The seasonal characteristics of the gold and jewelry industry are obvious, especially in May and October, when weddings are concentrated, gold consumption has picked up significantly. In the third quarter, gold consumption has achieved a 28.71% increase from the previous month.

In 2019, the market size of my country's gold and jewelry industry exceeded 700 billion yuan, and it is expected to reach 900 billion yuan by 2022.

　　Despite the impact of the global new crown epidemic, the price of gold continues to rise, how will this affect the gold jewelry industry?

The market screams that they can’t afford it, but live broadcasts are still calm

　　On the eve of Double Eleven, Ms. Zhu, who lives on Wanshou Road, Nanping, Chongqing, watched the live broadcast every day.

"The price of gold has gone up too high, we can't afford it!" On the evening of November 7, she bought a pure gold rabbit-shaped pendant for more than 1,500 yuan through the live broadcast of Chow Tai Fook.

　　Ms. Zhu told reporters that ordinary ornaments are pure ornaments, while gold ornaments are not only good-looking, but also have a certain investment value. If you don't want to wear it, you can use it for cash after appreciation.

　　At present, my country's jewelry sales channels are still dominated by offline consumption. The main reason is that jewelry is a non-standardized product, and consumers generally consume it after wearing it.

However, in recent years, with the rapid development of my country’s social media and content e-commerce, the emergence of new models such as KOL planting grass and live streaming, the scale of online jewelry sales has gradually expanded, and the proportion of online sales has increased from 2.6% in 2014 To 7.2% in 2019.

　　"The consumption behavior of post-90s and post-00s is perceptual consumption. Live sales are very attractive to them. In addition, they are not very concerned about price increases. This part of the jewelry consumption must be increasing." Chongqing Yangtze River Upper Reaches Economic Research Institute Researcher Mo Yuanming said that by combining traditional handicrafts with modern crafts and technologies, more cultural and creative products that combine intangible cultural heritage filigree craftsmanship and ancient gold techniques have been developed, which are highly accepted by the young market.

　　The reporter learned from many gold shops in Chongqing that since the beginning of the year, gold jewelry has been priced at almost one per day.

Take the Hong Kong-owned brand Chow Sang Sang Gold Jewelry as an example, the price at the beginning of January was 442 yuan/gram, and the price reached 455 yuan/gram at the end of the month.

In February, as the international gold price soared to 483 yuan/g, it fell back to 464 yuan/g at the beginning of March, and now it has "recovered" all the decline, and rose to 530 yuan/g on November 7.

　　Mr. Liu, the person in charge of Chongqing New Century Silver Building, told reporters that the retail price of fashion jewelry ranges from a few hundred yuan to one or two thousand yuan. When the unit price of mainstream gold jewelry drops to 2,000 yuan, it has successfully entered the price space of fashion jewelry. .

The concept of jewelry, the function of jewelry, and the cost-effective product experience will maximize the consumption needs of young people.

In the past two years, the light luxury style favored by young people in the gold jewelry market falls into this category.

　　According to the World Gold Council’s October 30 gold demand report, China’s gold jewellery demand fell by 33% year-on-year in the second quarter and 52% year-on-year in the first half of the year, the lowest since 2007.

By the third quarter, the demand has increased sharply. Under such a background, live e-commerce or live delivery of goods have been widely used, which has become a big breakthrough and is highly anticipated.

Reshuffle the industry and move towards resource integration

　　In fact, the gold jewellery industry is not as pessimistic as people think.

On the contrary, after the industry reshuffle, some companies with low technology, backward manufacturing technology, lack of independent innovation and impetuous blindness in the industry are eliminated, China's gold jewelry industry will usher in a new peak of resource optimization and integration and industry standard development. period.

　　According to relevant statistics, the retail sales of the domestic gold jewelry market in 2014 exceeded 470 billion yuan, of which gold accounted for more than 75% of the market share.

Although the share of gold jewelry has declined, the overall growth is still slow, maintaining a growth rate of about 5% for five consecutive years.

　　"Impersonality, speculation, quick success, and blindness are common problems that currently exist in many Chinese gold and jewelry companies. The lack of attention to their own manufacturing processes, technologies and services, and their lack of understanding of external market information have caused these companies to be unable to reshuffle in the wave The main reason for survival." Professor Pu Yongjian of Chongqing University believes that after chaotic and disorderly competition, the gold and jewelry industry will move towards an era of resource integration.

　　Not only the jewelry industry, because most offline stores are closed and closed due to the impact of the epidemic, companies have turned to online sales to accelerate the company's Internet development and actively seek ways to break the industry.

As the control of the epidemic has led to the gradual restoration of negative market sentiment, and the gradual resumption of offline stores after the resumption of work, the domestic gold and jewelry industry has begun to grow steadily.

　　Mr. Xin, the person in charge of Chongqing Laofengxiang Yinlou Company, said frankly that compared with consumer industries such as tourism, catering, theaters, and clothing, the value-preserving properties of jewelry products will not cause a large-scale depreciation of inventory, so the medium and long-term impact on the industry is limited.

Due to the high unit price of jewelry products, the decision-making time of consumers is longer, which puts forward higher requirements on the integrity and reputation of jewelry brands.

Jewelry companies can take advantage of this epidemic to realize a comprehensive transformation of sales models to e-commerce and even live broadcasting.

Enterprises began to explore new intelligent retail models

　　Although the gold and jewelry industry has embraced the Internet for a long time, traditional offline physical stores are still the mainstream sales channel.

It is precisely because of this characteristic that traditional offline brands and retailers have not paid much attention to the construction of the industrial Internet.

　　After more than 10 years of golden development, under the impact of economic slowdown and other factors, the jewelry market is generally in a downturn.

However, many people in the industry believe that China's gold jewellery market as a whole will not shrink, and the prospects are still attractive, with huge room for development.

　　In Pu Yongjian’s view, whether it is a business model or an organizational operation model, it is necessary for the gold jewellery industry to use big data, artificial intelligence, blockchain, 5G technology and other intelligent technologies to reconstruct traditional business formats, improve organizational efficiency, and improve user services. Experience.

　　Since the beginning of this year, the performance of Beijing Caibai e-commerce company has increased by 60% year-on-year, with sales of nearly 200 million yuan in the first quarter.

In addition, through the transformation, the company has trained employees to act as anchors for the delivery of goods. In the past three months, there have been more than 200 live broadcasts, with sales of several million yuan. Through a one-to-one approach, the company has carried out relevant knowledge and consumption training to online customers. .

　　It is understood that under the influence of the epidemic, more and more gold and jewelry companies have begun to actively explore how to use the Internet, big data, live broadcast and other tools to conduct intelligent new retail, and "mainly physical stores and expand online business" have become many The choice of gold jewelry companies.

The Laomiao Gold and Ya one or two brands under Yuyuan Jewelry Fashion Group changed the sales model through online sales, social marketing, and online transactions through express delivery, which led to sales of 10 million yuan in two months.

At the same time, it has also realized the normalization of live broadcast marketing.

　　In addition, jewellery companies such as Lao Fengxiang, Millennium Jewelry, Jinsheng Jewelry and Jewelry have also made small achievements online. They have built jewelry sales consultants into “net celebrities”, which not only increased their popularity, but also brought huge benefits.

　　Our reporter Li Guo, intern Wu Jiangmin