The higher the gold price, the harder it is to find a gold store: How much of the gold you buy is spent on signs?
# The higher the gold price, the harder it is for gold stores: How much of the gold you buy goes towards the signage? ## Key Events Gold prices continue to rise rapidly, putting pressure on the performance of brand-owned gold stores, and consumer purchasing behavior is undergoing structural changes. ## Key Data - **Gold Price Trends**: On September 3, the price of gold in the US market fell below $4,300 per ounce. The price per gram of branded gold jewelry decreased by about 37 yuan in a single day, but then stabilized and rebounded. - **Performance**: Lao Feng Xiang’s revenue plummeted by 40.08% year-on-year, with net profit falling by 41.34%; Zhou Dasheng’s revenue decreased by 20.79%, with net profit falling by 24.24%; Zhou Dafu closed 896 stores in the mainland (for the fiscal year 2025), totaling over 2,200 closures. - **Consumption Behavior**: The consumption of gold jewelry decreased by 33.88% year-on-year, and the consumption of gold bars and coins reached a record high of 28.42%. - **Price Transparency**: The sales volume during the live streaming season at Shuibei Live Room has increased 8 times over three years. Upstream factories directly quote “market price + processing fee” to terminals, eliminating brand premiums...