The Spring Festival is traditionally a peak season for gold purchases in the Chinese mainland, and this year the trend has surged even more as young shoppers embrace gold.
\"Tens of thousands of customers come to our store every day during the Spring Festival holiday,\" said Dong Ming, director of the gift department at Caibai Jewelry, a popular destination for gold jewelry in Beijing.
Amidst the bustling counters, Dong shared with China Media Group that while families typically shop together during the festival, there has been a noticeable increase in young customers this year.
Data indicates that the desire for gold among young people has been steadily growing in the Chinese mainland. An insight report by consultancy firm Mob Data revealed that Gen Z's inclination to purchase gold jumped from 16 percent in 2016 to 59 percent in 2021. In 2023, leading e-commerce platforms Tmall and Taobao reported that the primary online buyers of gold jewelry were individuals born after the 1990s.
Reference(s):
Gold new must-have among young Chinese shoppers this Spring Festival
cgtn.com
