Valentine’s Day this year has seen a significant boost in gift spending, following the Spring Festival. This surge highlights the government’s ongoing efforts to promote consumption and drive economic growth.
While roses and chocolates remain classic Valentine’s Day gifts, a growing trend among Chinese consumers is turning to gold, especially as prices have risen sharply. On Thursday, the price of gold reached $2,910 per ounce, further fueling interest in gold jewelry.
Gold jewelry with cultural significance has become a key trend this holiday season, with many shoppers opting for pieces that carry deeper meaning.
In Shuibei International Jewelry City, located in Shenzhen, Guangdong Province, one of China’s largest gold and jewelry markets, demand for jewelry has surged. Express service providers reported a nearly 30% increase in daily orders compared to last year. On Thursday, orders hit 40,000 pieces per day, up from 30,000 before the Spring Festival.
At Chow Tai Fook Jewelry Store in Beijing’s upscale SKP mall, business has been booming. A sales representative told the Global Times that the store is packed with customers even on weekdays, with 40-50 potential buyers visiting daily. Heart-shaped couple rings and cultural-themed jewelry collaborations are among the top sellers.
“Gold is a secure and tangible asset. It symbolizes love and serves as a store of value,” said Zhang, a middle-aged civil servant, after purchasing a lotus-patterned wedding ring at Luk Fook Jewellery’s Beijing store. He added that, despite gold’s high price, the metal offers a sense of security that gifts like roses or chocolates do not.
This year’s Valentine’s Day shopping trend reflects a growing preference for meaningful and lasting gifts, with gold taking center stage as both a symbol of love and an investment.
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