Jinshi data, September 10th news, CITIC Securities research report stated that in the first half of 2024, the gold price quickly rose and remained at a high level of volatility. The consumption and investment attributes of gold were clearly reflected: the amount of gold jewelry fell, and the amount of gold bars rose; brands with a high proportion of investment gold (gold bars, gold coins, etc.) had a smaller impact on business performance, and brands with strong design and brand strength and in a period of growth achieved counter-growth. Looking forward to the second half of 2024, it is expected that the gold price will still maintain a high level, and consumers will gradually accept the high gold price, releasing suppressed purchase demand, and franchisees replenishing inventory are expected to drive the recovery of gold jewelry sales; from a brand perspective, brands with a high proportion of investment gold, strong design and brand strength can be realized, and brands that are still in the early growth stage of expansion may perform well; at the same time, pay attention to the incremental business brought by online business and overseas business.
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