Platinum Guild International CEO Huw Daniel on Challenging Gold in China
Marketers have used the Pepsi-positioning for the precious white metal, calling it the choice of a new generation in China.
Contents
- How long has platinum been around?
- Gold is incredibly important in Chinese culture. Along with red, gold is a favoured colors. Gold necklaces are given at wedding ceremonies, and gold offerings are burnt at temples. What does platinum offer that outweighs all that heritage?
- What role does PGI play in the Chinese platinum market?
- How big is the platinum market in China?
- PGI aren’t retailers. So who sells platinum to Chinese consumers?
- What about foreign luxury brands?
- What motivates people to buy platinum jewelry?
- March 8 was International Women’s Day, and many Chinese platforms encouraged women to purchase items for themselves. How much does self-gifting contribute to platinum sales?
- The platinum price (30.98 per gram) is more volatile than gold (42.62 per gram). It was twice as high as gold in 2008, but right now it’s less. People are more likely to move their money into gold during an economic downturn, whereas platinum prices tend to fall as demand from industry drops. How important is a metal’s store of value to Chinese consumers?
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