During the National Day holiday, the Shenzhen Shuibei gold and jewelry market experienced a major sales boom. As a key distribution hub for China's gold and jewelry industry, multiple shopping malls and gold stalls in Shuibei saw strong foot traffic.

Gold sales surge during the National Day holiday as busy merchants rush to restock

During the National Day holiday, the Shenzhen Shuibei gold market was crowded with people, and customer traffic rose sharply. Many merchants were overwhelmed with orders, often too busy to eat, and stayed open until around 9 p.m. Holiday foot traffic reached three to four times the usual level. Hao Runwei, a gold merchant in Shenzhen Shuibei, said sales during this year's National Day period increased by 50% compared with last year. He said it was truly extremely busy during the holiday, and there was no time to restock. Bracelet inventory was basically emptied, and restocking is now proceeding gradually. During the National Day period, both lightweight and heavyweight gold products sold very well. Zhang Rui, another gold merchant in Shenzhen Shuibei, said plain bracelets were a hit product. A large inventory was prepared for the National Day holiday, but it sold out within the first two days.

Wedding gold jewelry became the main driver of this round of consumption. Demand was strong for products related to wedding "three golds" and "five golds," such as dragon-and-phoenix bracelets, double-happiness chains, and wedding rings. Peng Kangteng, a gold merchant in Shenzhen Shuibei, Guangdong, said sales of wedding-related products this year were 60% to 70% higher than last year. Two to three times the usual inventory was prepared before the holiday, but stock was already unavailable on October 4 and 5, and some factories even called workers back to work overtime.

Gold trade-ins also ushered in a wave of popularity. Many consumers brought out old gold jewelry kept at home and paid the price difference to exchange it for new wedding jewelry. This not only put idle gold at home to use, but also reduced the cost of buying new items.