Core Insights - The emergence of "pain gold" represents a cultural shift in gold consumption, particularly among younger demographics who are influenced by anime and IP collaborations [1][2][3] - "Pain gold" products are often priced at 2-3 times the market gold price, reflecting high demand and the added value of IP licensing [5][6][7] Group 1: Market Trends - "Pain gold" has gained popularity among the younger generation, particularly those aged 00s, with many customers traveling from other regions to purchase these limited edition items [2][3] - Various brands, such as Lao Feng Xiang and Lao Miao, have launched successful IP collaboration gold products, indicating a trend towards integrating pop culture with traditional gold offerings [1][3] Group 2: Consumer Behavior - Consumers are primarily motivated by emotional attachment to the IP rather than investment returns, viewing "pain gold" as a blend of personal interest and asset allocation [3][4][6] - The willingness to pay a premium for "pain gold" varies among consumers, with some accepting the high prices while others express caution regarding the investment value [5][6] Group 3: Pricing and Valuation - The pricing of "pain gold" products often exceeds traditional gold prices significantly, with examples showing prices ranging from hundreds to thousands of yuan depending on the design and weight [5][6] - The resale value of "pain gold" in the second-hand market can sometimes exceed the original purchase price, but the liquidity and potential for appreciation remain limited compared to traditional gold products [7]

Core Viewpoint - The emergence of "pain gold" is revolutionizing gold consumption among young people, blending traditional gold with elements from the anime culture, thus creating a new market segment that appeals to the interests of the younger generation [2][11]. Industry Trends - The "pain gold" phenomenon is characterized by collaborations between gold brands and popular IPs, leading to a surge in demand for these limited-edition products, particularly among the younger demographic [2][4][11]. - Various gold brands have launched IP collaboration products, such as "Saint Seiya" and "Tomb Raider," which have become bestsellers, indicating a shift in consumer preferences towards more visually appealing and culturally relevant gold items [2][5][11]. Consumer Behavior - Consumers, particularly those from the "post-00s" generation, are increasingly drawn to "pain gold" due to their emotional attachment to the IPs, often prioritizing personal interest over traditional investment considerations [4][11][15]. - The pricing of "pain gold" products is generally 2-3 times higher than the market price of gold, reflecting the added value from IP licensing and unique designs [11][12]. Market Dynamics - The market for "pain gold" is seeing a mix of emotional and investment value, with consumers willing to pay a premium for products that resonate with their interests, although the resale value may not align with traditional gold investment expectations [11][18]. - The liquidity of "pain gold" is limited compared to traditional gold products, as its appeal is often confined to specific interest groups, which may affect its marketability in broader contexts [15][18].

Core Viewpoint - The article discusses the rising trend of "pain gold" (痛金), a fusion of traditional gold products with anime and pop culture elements, particularly appealing to younger consumers, creating a "breakthrough revolution" in gold consumption [1][2]. Group 1: Market Trends - "Pain gold" is gaining popularity among young consumers, particularly in the context of the "otaku" culture, where items are adorned with anime elements to express preferences [2][5]. - Various gold brands have launched IP collaboration products, with notable examples including partnerships with popular franchises like "Saint Seiya" and "Tomb Raider" [2][7]. - The demand for these IP collaboration gold products is high, with reports of limited editions selling out quickly and attracting customers from outside the local area [6][12]. Group 2: Consumer Behavior - Consumers are purchasing "pain gold" not only for its investment potential but also for emotional value tied to their favorite characters, indicating a shift from traditional gold as a mere investment tool to a form of emotional spending [12][17]. - The younger demographic, particularly those born after 2000, is driving the trend, with many expressing a willingness to pay a premium for items that resonate with their interests [10][12]. - The emotional connection to the IPs enhances the perceived value of the gold products, making them more than just financial assets [12][17]. Group 3: Pricing and Valuation - The pricing of "pain gold" products is generally 2-3 times higher than the market price of gold, with some items priced significantly above the gold content value due to added design and licensing costs [14][16]. - For example, a "pain gold" bracelet weighing 0.6g is priced at over 1500 yuan, translating to approximately 2500 yuan per gram, which is considerably higher than standard gold prices [16][19]. - The resale value of "pain gold" in the secondary market can exceed the original purchase price, but the liquidity and potential for appreciation are limited compared to traditional gold products [19][20].