国内一口价金饰掀涨价潮，最高涨35%

Core Viewpoint - The article discusses the recent price increases in gold jewelry by major brands like Chow Tai Fook due to rising gold prices, with expected retail price hikes of 12% to 18% for "one-price" gold products [1][2]. Price Adjustments - Chow Tai Fook plans to raise retail prices for its "one-price" gold products by 12% to 18% by the end of October, marking the second price increase this year [1]. - Other brands such as Lao Pu Gold and Chow Sang Sang have also announced price hikes, with increases ranging from 25% to 35% [2]. Market Trends - The price of gold has surged significantly, with spot gold reaching a record high of over $4,380 per ounce on October 17, 2023, and a year-to-date increase of over 60% [1]. - The price of gold jewelry in China has risen sharply, with prices for gold jewelry reaching 1,262 RMB per gram, up from approximately 800 RMB per gram at the beginning of 2023 [1]. Shift in Pricing Models - The "one-price" model, which sets prices based on design and craftsmanship rather than weight, is becoming more prevalent among jewelry brands as gold prices remain high [6]. - The China Gold Association reported a decline in gold consumption, with a 3.54% drop in total gold consumption and a 26% decrease in gold jewelry consumption in the first half of 2023 [6]. Performance Metrics - Chow Tai Fook reported a 4.1% increase in retail value for the second quarter, with "one-price" gold products seeing a 43.7% year-on-year increase [8]. - Same-store sales in mainland China grew by 7.6%, while sales in Hong Kong and Macau increased by 6.2% [8]. Store Management Strategy - Chow Tai Fook is focusing on improving store productivity and closing underperforming locations, with a net reduction of 296 stores in the third quarter [9]. - The company aims to balance profit margins by increasing the proportion of "one-price" products in response to high gold prices [9].