Roland Wang

Regional CEO, China World Gold Council

China has gone through remarkable change in the past 30 years. Within one generation, the shape of our economy has altered beyond all recognition: agriculture’s share of output has fallen and the service sector has become an important driver of growth. The gold industry must adapt to this evolving consumer landscape.

This report aims to share insights on consumers’ attitudes towards gold within the jewellery and luxury fashion market, highlighting differences in attitudes across cities and generations. 

It also identifies opportunities to help the industry grow. Gold jewellery performs well in meeting consumer needs around value tradition and connect, and the industry should build on this strength. But it should also explore how it can build brands which resonate with consumers around other needs, such as reward and assert success. Retailers should also explore ways to develop seamless online strategies, especially to target the all-important millennials – the next generation of gold consumers.

I hope our insights help the industry think creatively about how to adapt and grow, and I welcome the opportunity to discuss these issues in more detail with manufacturers, retailers and trade bodies.