fbpx

Popular gold trend after Chinese teens flock to buy ‘small piece of gold’ to cope with inflation economy

“Gold” has become a strong asset once again after prices soar every year. This makes “gold” one of the investment methods that younger generations see as long-term investments, especially younger generations in China who buy gold the size of “beans.”

Content

Chinese Teens collect a small piece of gold: Investment Trend

It caused a sensation on Chinese social media when young Chinese generations shared their experience of collecting “bean-sized gold” into a small glass bottle until hashtag #bean-sized gold on the Weibo platform. The hashtag has more than one million views and over 20,000 likes.

This phenomenon occurring among younger generations in China is called the “Gold Rush” or “Golden Fever,” making Gen Z the main buyer driving the market to buy gold the size of “beans.”

This “gold pellet” is a small piece of gold that is often designed in an auspicious appearance, such as gold bars, carp, or cute design shapes, including cheese, marine animals, dim sum, or even durian.

The “gold pellet” weighs about 1 gram and costs about 400 – 600 yuan or about 2,000 – 3,000 baht, which is more accessible for younger generations than buying gold bars or ornamental gold.

Many Chinese teenagers buy 1-2 pieces of gold pellet a month because they see the price as close to the cost of regular bubble tea buying. Bean-sized gold collected in a bottle is the starting point for young consumers and the latest best-selling goods in Chinese jewelry stores.

New generations are dominating the Gold Market

The China Gold Association reported that the main group of gold consumers aged between 25 and 34, accounted for 59% in 2023. The Association expects that consumers aged under 25 will become the new major buyers of gold in the future.

As China is experiencing the worst inflation slump in 15 years and has entered a deflationary phase, the stock market continues to fluctuate and bank interest rates are too low, younger generations are turning to invest in gold pellets to prevent further financial risks.

China’s Sho Tai Fu jewelry group revealed the consumer trend report for the year 2563, which showed that Gen Z consumers who are affected by the great number of youth unemployment and China is entering the deflation phase, are now the top consumers of gold jewelry in China

Chinese trend support, the gold market soar

With this trend of saving gold, businesses are vigilant with this trend, and has become a nationwide trend. Gold shops make gold bars of various sizes, the smallest size of 10 grams, priced below 2,000 yuan (about 10,000 baht) so that low-budget Gen Z can buy it, increasing lots of customers go to the shop which makes Chinese goldsmiths have a lot of work in years.

Even jewelry shops, no matter where they are, have launched gold products to make Gen Z more appealing. For example, Luk Fook Jewelry has launched a special collection of gold jewelry with the famous cartoon Rilakkuma.

Moreover, Chinese media analyzes that the gold buying trend of Chinese teenagers is good, especially in the domestic gold market, and most importantly, it is also proud of the Chinese product called “China Chic” which has made Chinese consumers or younger generations more interested in using Chinese brands.

References from

About the Author

ACU PAY Thailand

ACU PAY Thailand

ให้ทุกเรื่องการเงินเป็นเรื่องง่าย เริ่มต้นวันดีๆ ไปกับเรา MAKE A GREAT DAY WITH ACU PAY

Related Articles