First, interest rates are increasingly low, but more people are saving money. The deposit data for January to March has been released, causing a stir in the banking industry. In just three months, new deposits reached 12.99 trillion, and by the end of March, the deposit balance was 315.22 trillion, a year-on-year increase of 6.7%. It is worth noting that only 17.99 trillion was deposited throughout last year.
Many people did not expect that as interest rates decline, the number of savers is actually increasing. Since just April, multiple banks have continued to significantly lower deposit rates by 5 to 40 basis points, with many banks' fixed deposit rates already dropping below 2%.
Second, gold is becoming increasingly expensive, and more people are buying it. During this period, it has been said that for nearly two years, gold has been continuously rising. As of yesterday, the price of some domestic gold jewelry brands has surpassed 1050 per gram. Many people express their surprise, recalling that gold was around five to six hundred per gram, and now it has suddenly crossed a thousand.
It is worth noting that despite the continuous rise in gold prices, consumer enthusiasm remains strong. In the first quarter of 2015, China's gold consumption reached 326.68 tons, an increase of 3.69 tons compared to the same period last year. Interestingly, gold was previously mainly embraced by older Chinese, but now many post-90s and post-95s young people are also flocking to gold.
Third, the collective price increase of luxury goods has backfired. In the past, when luxury goods were not selling well, they would announce a price increase, which would lead to a wave of consumer enthusiasm. This is because many Chinese consumers perceive luxury goods as being better when they are more expensive; the more expensive, the more face they have. However, a strange phenomenon has recently emerged.
LV and Dior have announced price increases, and just yesterday, COACH and others also announced price increases. Interestingly, this time the price hike has encountered a cooling response. Many loyal customers of luxury brands expressed that if the prices go up, they will wait. On the other hand, Burberry, Tory Burch, and others are offering crazy discounts on China's Vipshop, which are being frantically snapped up by young people. The discounting of luxury goods may be the upcoming consumer theme.
These three pieces of news clearly show us that the domestic consumption trend has completely changed. People are no longer buying expensive items regardless, or frantically buying cheap items; instead, more and more people are beginning to realize the importance of cost-effectiveness. Gold is very expensive, but it has indeed brought appreciation over the past two years. Luxury goods, which used to be considered better when more expensive, are now also pursued for discounts, becoming more rational and pragmatic!$BTC
