Core Insights - The gold jewelry market in China is experiencing a decline in volume but stable prices, with retail prices for gold jewelry surpassing 1200 yuan per gram [1] - Young consumers are increasingly favoring lightweight and uniquely designed gold jewelry, reflecting a shift in consumer preferences [1][2] - Despite a 28% year-on-year drop in gold jewelry demand in Q2, consumer spending on gold reached 137 billion yuan, indicating a stable consumption base [1] Pricing Models - The market employs two main pricing models: weight-based pricing (base gold price + processing fee) and fixed pricing (per item) [1] - Processing fees for ordinary jewelry range from 20 to 50 yuan per gram, while traditional gold series can reach 80 to 120 yuan per gram [1] - Fixed-price products, which emphasize design and craftsmanship, can have processing fees accounting for 30% to 50% of the total price [1] Consumer Behavior - Young consumers are adopting a more rational approach to purchasing gold, often opting for smaller decorative items while being cautious about larger purchases [1] - The ownership rate of gold jewelry among Chinese consumers has reached 81%, with 75% of previous buyers planning to make further purchases soon [1] Market Trends - The gold jewelry market is transitioning from a focus on solid gold to incorporating diverse materials, with innovative designs becoming crucial for market success [2] - Products like "gold + braided rope" allow for customization, while colorful enamel gold jewelry is gaining popularity [2] - The high gold prices are pushing the industry towards product lightweighting, personalized design, and enhanced cultural value, which are seen as key to long-term market growth [2]