国内一口价金饰掀涨价潮，最高涨35%

Core Viewpoint - The jewelry brand Chow Tai Fook plans to raise retail prices of its gold products by 12% to 18% at the end of October due to the continuous rise in gold prices, marking the second price increase this year [1][4]. Group 1: Price Increases and Market Response - Chow Tai Fook's price increase follows a significant rise in international gold prices, which reached a historical high of over $4,380 per ounce on October 17, with a year-to-date increase of over 60% [3]. - Other brands such as Lao Pu Gold and Chow Sang Sang have also announced price hikes, with increases ranging from 25% to 35% for their gold products [4]. - The price of gold jewelry from major domestic brands has risen to approximately 1,262 RMB per gram, up from about 800 RMB per gram at the beginning of 2025, reflecting an increase of over 400 RMB per gram [3]. Group 2: Shift in Pricing Strategy - The "one-price" pricing model, which sets prices based on design and craftsmanship rather than weight, is becoming more prevalent among jewelry brands in response to high gold prices [6]. - The China Gold Association reported a 3.54% year-on-year decline in gold consumption in the first half of 2025, with a significant drop of 26% in gold jewelry consumption [6]. - Brands are increasingly shifting towards higher-margin "one-price" products, with Chow Tai Fook's proportion of such products rising to 30-40% [6]. Group 3: Financial Performance and Store Management - Chow Tai Fook reported a 4.1% increase in retail value for the second quarter, with a 43.7% year-on-year growth in the retail value of its priced gold products [9]. - The company has closed 345 stores in the third quarter, focusing on enhancing store productivity and maintaining market leadership [9][10]. - Despite the challenges posed by high gold prices and declining consumer demand, the shift towards "one-price" products is seen as a strategy to optimize profitability [10].