"Tmall's Double 11 Golden Consumption Online Craze: Coupons are quickly used up, IP goods sell out, and post-95s become the new main consumers."

On Tmall Double 11, online shopping is experiencing a frenzy of gold rush. The phenomenon of long queues and shortage of styles in offline stores has prompted more and more consumers to turn to online gold shopping. Industry data shows that as of 2023, the online penetration rate of gold is less than 15%, but it is expected to exceed 30% by 2025. The online transaction data of major gold brands is also very impressive. According to media reports, Chow Tai Fook's online retail value in the third quarter increased by 28.1% year-on-year, and Luk Fook Group's mainland growth of 20% was mainly from e-commerce. In the first half of 2025, Lao Pu Gold's online revenue reached 1.618 billion yuan, a year-on-year increase of 313.3%, far exceeding offline growth. Data from the Taobao Tmall platform shows that new customer sales of gold in October increased by double digits year-on-year. In addition to the more popular online sales, with growth far exceeding offline, online gold consumption is also showing two major trends of luxury and IP, driving gold from traditional wedding supplies and investment tools towards fashion accessories and collectibles transformation. In April of this year, Taobao Tmall set up a new category of high-tech gold and IP gold, further catalyzing this transformation process.