{"id":52365,"date":"2021-07-26T05:30:00","date_gmt":"2021-07-25T21:30:00","guid":{"rendered":"https:\/\/daxueconsulting.com\/?p=52365"},"modified":"2022-10-14T14:13:51","modified_gmt":"2022-10-14T06:13:51","slug":"yin-jewelry-china","status":"publish","type":"post","link":"https:\/\/daxueconsulting.com\/yin-jewelry-china\/","title":{"rendered":"Yin jewelry, redefining the gold jewelry market in China"},"content":{"rendered":"\n

Yin jewelry (\u9690) is a Chinese jewelry brand created in 2014 by two Chinese women. Starting out as a niche independent designer studio on Taobao at first and then Tmall, Yin jewelry is now working towards a mass-market brand. The brand\u2019s concept is to create and sell \u201ctimeless, subtle and gold jewelry\u201d.<\/p>\n\n\n\n

\"Yin<\/a><\/figure><\/div>\n\n\n\n

Download our report on Yin’s China market strategy<\/a><\/strong><\/p>\n\n\n\n

In contrary to most jewelry brands, Yin does market their products as a gift or something for a special event like a wedding or engagement, rather Yin targets the end consumer: well-educated and classy women who are willing to pay for luxury.<\/p>\n\n\n\n

\"China\u2019s
Source: <\/em>Daxue consulting<\/em><\/a> and <\/em>Double V. Training & Consultancy<\/em><\/a>; <\/em>China\u2019s rising fashion brands report<\/em><\/a>, timeline of Yin jewelry major achievements<\/em><\/figcaption><\/figure><\/div>\n\n\n\n

Yin jewelry fills a gap in the Chinese gold jewelry market with design, quality and price<\/h2>\n\n\n\n

In China, most young people prefer fast fashion or foreign brands for jewelry. For fast fashion brands, it is mostly alloy or silver jewelry with artificial diamonds. Their prices are under 200 RMB\/pc moreover fast fashion brands quickly update their collection to follow the latest trends.<\/p>\n\n\n\n

As for international luxury brands, jewelry is mostly made of silver, diamonds and 18-karat gold, the price is superior to\/of 1000 RMB\/pc and their design is urban and modern.<\/p>\n\n\n\n

In terms of domestic high-end jewelry brands, they prefer to use gold, silver and jade materials for their jewelry. The price depends on the weight and craft fee. The jewelry design slowly updates and may seem outdated.<\/p>\n\n\n\n

The Chinese brand, Yin, indeed, fills a gap in the Chinese gold jewelry market: the brand uses 18 karat gold, they have affordable prices, their design is minimalist and their brand image is particularly modern. The Chinese gold jewelry brand has managed to take the best out of of their competitors and make it their advantage.<\/p>\n\n\n\n

Strategy 1: Minimalist design and customized services<\/h2>\n\n\n\n

To set the brand apart from its competitors, Yin jewelry\u2019s products have a minimalist design and customized services. To start with the brand products design, they got inspiration from the symbols and signals of nature and the universe. The minimalist design encourages consumers to mix and match, which effectively increases the unit price of orders and user stickiness.<\/p>\n\n\n\n

Yin jewelry presents a collection of 26 minimalist designs, and offers customized services such as customized rings, or a free engraving service for most ring products with 2 optional letter patterns to suit different customer needs. On top of that, all consumers receive a pyramid jewelry box made of glass and metal along with their orders.<\/p>\n\n\n\n

Yin jewelry\u2019s products pricing range between 1,000 and 50,000 RMB and the average price per order is superior to 3,000 RMB.<\/p>\n\n\n\n

Strategy 2: Use social media to change the stereotypes about gold<\/h2>\n\n\n\n

For centuries, gold has been a symbol of wealth in the minds of the Chinese, but today some see it as archaic, outdated, and bulky in size and weight. The Chinese gold jewelry brand has been working hard to connect with consumers to create a new interpretation of gold through simple design and sharing KOLs casually wearing their gold jewelry.<\/p>\n\n\n\n

Gold is a stable metal that does not oxidize as easily as silver. Yin jewelry is hoping to bring this unique strength of gold into urban women\u2019s daily life.<\/p>\n\n\n\n

\"Yin
Source: <\/em>Yin jewelry<\/em><\/a>\u2019s gold jewelry collection<\/em><\/figcaption><\/figure><\/div>\n\n\n\n

Strategy 3: Choosing premium offline locations to align with luxury brands<\/h2>\n\n\n\n

Yin jewelry positions itself as fine jewelry and therefore carefully chooses its offline outlets to enhance the brand image. They have 6 retail stores in China (Beijing, Shanghai, Shenzhen and Hangzhou). All locations are in tier 1 cities. Moreover, there are only the most exclusive shopping malls with the best buying power of consumers.<\/p>\n\n\n\n

\"China\u2019s
Source: <\/em>Daxue consulting<\/em><\/a> and <\/em>Double V. Training & Consultancy<\/em><\/a>; <\/em>China\u2019s rising fashion brands report<\/em><\/a>, Yin jewelry\u2019s offline stores<\/em><\/figcaption><\/figure><\/div>\n\n\n\n

Strategy 4: Create emotional resonance with customers through co-branding<\/h2>\n\n\n\n

While many other jewelry brands target couples or people who are buying gifts, the Chinese gold jewelry brand targets women who have the means to buy jewelry for themselves.<\/p>\n\n\n\n

Based on the emotional needs of highly-educated female consumers, Yin jewelry makes co-branding<\/a> designs to create more emotional value for its jewelry.<\/p>\n\n\n\n

Here are three popular co-branded products<\/h3>\n\n\n\n

Strength: Co-branding with domestic gym 24Kick \u683c\u6597\u5b66\u9662, the design of the boxing glove is a tribute to feminine strength<\/p>\n\n\n\n

\"Yin
Source: <\/em>Yin jewelry<\/em><\/a>\u2019s gold jewelry co-branding collection<\/em><\/figcaption><\/figure><\/div>\n\n\n\n

Wisdom: Co-branding with National Library of China<\/a>, design inspired by the traditional 5 elements of Fengshui: gold, wood, water, fire and earth.<\/p>\n\n\n\n

\"Yin
Source: <\/em>Yin jewelry<\/em><\/a>\u2019s gold jewelry co-branding collection<\/em><\/figcaption><\/figure><\/div>\n\n\n\n

Joy: Co-branding with rock band Joyside, the design is inspired by guitar picks. The shape of a red heart represents the \u201cbeating heart\u201d.<\/p>\n\n\n\n

\"Yin
Source: <\/em>Yin jewelry<\/em><\/a>\u2019s gold jewelry co-branding collection<\/em><\/figcaption><\/figure><\/div>\n\n\n\n

Strategy 5: Precisely target well educated women on social media<\/h2>\n\n\n\n

Being a domestic brand, Yin jewelry has a shorter brand history than most of its fine jewelry competitors. During its seeding period, Yin jewelry told the brand story in a more localized way and built a closer relationship with its core consumers.<\/p>\n\n\n\n

Vlogs are one of the most popular forms of content on the platform Bilibili<\/a>. Ayur, one of the founders of Yin jewelry, shared her entrepreneurship story in vlogger\u2019s channel.<\/p>\n\n\n\n

RED KOLs<\/a> present lifestyles that align with the brand image, rather than simply sharing photos of the jewelry.<\/p>\n\n\n\n

\"Yin
Source: <\/em>Weibo.com<\/em><\/a>, Yin jewelry’s posts<\/em><\/figcaption><\/figure><\/div>\n\n\n\n

Weibo is a platform for the fan-economy. On Weibo, Yin jewelry sponsors celebrities and collaborates with them to maximize exposure.<\/p>\n\n\n\n

Problems: Transparent gold prices and fierce competition<\/h2>\n\n\n\n

The price of gold is transparent and Chinese consumers tend to judge the value of gold jewelry by its weight. However, when consumers ask about weight, Yin jewelry avoids giving a direct answer.<\/p>\n\n\n\n

\"China\u2019s
Source: <\/em>Daxue consulting<\/em><\/a> and <\/em>Double V. Training & Consultancy<\/em><\/a>; <\/em>China\u2019s rising fashion brands report<\/em><\/a>, Price breakdown of Gold jewelry in China<\/em><\/figcaption><\/figure><\/div>\n\n\n\n

Key points to learn from Yin jewelry\u2019s market strategy in the Chinese gold jewelry market<\/h2>\n\n\n\n
  • The Chinese gold jewelry brand has been able to make the brand different from their competitors with their\u00a0 minimalist design, quality and\u00a0 affordable price.<\/li>
  • The brand puts its focus on targeting Chinese highly-educated women through social media campaigns with RED KOLs, vloggers and endorsing celebrities on Weibo.<\/li>
  • Yin jewelry also has partnered with other brands, personalities and even museums to create co-branding products in order to create an emotional resonance.<\/li>
  • The Chinese gold jewelry market is very competitive and is gradually moving towards a modern setting.<\/li><\/ul>\n\n\n\n

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    See our report on Yin’s China market strategy<\/h2>\n\n\n\n