二次元“氪金”天花板，谁在为2600元一克的“痛金”买单？

Core Insights - The rise of "pain gold" (痛金), a type of gold jewelry infused with anime and IP culture, reflects a shift in consumer preferences towards emotional and personalized products, particularly among younger demographics [3][9][17] - The demand for "pain gold" is driven by the growing popularity of the two-dimensional (二次元) culture in China, with the market for related products projected to reach 597.7 billion yuan by 2024 [3][9] - Despite the soaring gold prices, traditional gold jewelry brands are struggling, while "pain gold" has emerged as a successful niche, bridging the gap between emotional value and investment [4][15][17] Demand Side - The consumer base for "pain gold" is primarily aged 18 to 35, characterized by a strong interest in two-dimensional culture and higher disposable income [9][17] - Emotional consumption is on the rise, with consumers increasingly seeking products that provide psychological comfort and self-identity, rather than just practical utility [9][15] - The popularity of "pain gold" has led to a surge in social media sharing among consumers, creating a community around these products [6][8] Supply Side - The gold jewelry market has seen a significant price increase, with domestic gold prices rising from approximately 850 yuan per gram at the beginning of the year to nearly 1100 yuan per gram [3][4] - While upstream gold mining companies have benefited from rising prices, downstream traditional gold brands are facing severe challenges, with some reporting revenue declines of over 40% [4][13] - Brands are increasingly focusing on innovative designs and cultural themes to attract younger consumers, as traditional gold products struggle to resonate with this demographic [15][17] Market Trends - The "pain gold" market is not a fleeting trend; it is expected to grow as brands explore higher cultural value and innovative business models [17] - Collaborations between gold brands and popular IPs have proven successful, with products selling out quickly and generating significant revenue [16][17] - The market for smaller, more affordable gold products is emerging as a response to changing consumer preferences, with brands introducing items that blend cultural significance with investment potential [16][17]