Core Viewpoint - The continuous rise in gold prices has significantly boosted online gold sales, but the issue of "non-delivery" has emerged as a new challenge for e-commerce platforms [2][4][5]. Group 1: Gold Price Trends - As of October 15, 2023, spot gold prices exceeded $4,200 per ounce, leading to fluctuations in gold jewelry prices [2]. - Prices for gold jewelry on platforms like Tmall and official stores have increased, with prices for gold jewelry rising from 1,215 RMB per gram to 1,235 RMB per gram within a day [2]. Group 2: Sales Performance - During the National Day holiday, gold consumption in China increased by 15%-20% compared to the previous year, indicating a simultaneous rise in both volume and price [4]. - The sales revenue of the Tianzhongjin official flagship store surged by 560% in the first half of October due to the rising gold prices [4]. Group 3: Consumer Behavior - Many consumers exhibit a "buy high, not low" mentality, leading to a preference for purchasing gold products with higher weights and prices during price fluctuations [4]. - The rapid increase in gold prices has led to impulsive buying behavior among consumers, resulting in quicker decision-making [4]. Group 4: Delivery Issues - A significant number of complaints regarding "non-delivery" of gold products have been reported, with 2,044 related complaints found on platforms like Black Cat Complaints [5]. - Consumers have faced issues where merchants refuse to deliver products after price increases, often citing stock shortages as the reason [5]. Group 5: Merchant Challenges - The volatility in gold prices has increased sales risks for merchants, with profit margins remaining nearly unchanged over the past 15 years despite a nearly 100% increase in gold prices over the past year [6]. - Merchants with sufficient inventory and professional analysts are better equipped to handle the risks associated with gold price fluctuations [6]. Group 6: E-commerce Growth - Online retail for gold and jewelry is projected to grow by 16.4% in 2024, highlighting the increasing importance of e-commerce in the gold jewelry sector [6]. - The issue of "non-delivery" in the online gold market raises concerns about the need for stricter industry regulations and standards [6].