A wave of "crystal fever" swept across the entire internet, with crystal products competing with celebrities and influencers in live streaming rooms, resulting in skyrocketing sales and increasingly strong market momentum. More and more young people are willing to invest money and time in these colorful ores. So, what kind of consumer psychology is behind this phenomenon? What "pitfalls" should be avoided when buying crystals?
Meet the healing needs of consumers
Currently, there is a high level of discussion among users on social media platforms regarding crystal products. On Xiaohongshu, with "crystal" as the keyword for search, there are over 2 billion posts, and bloggers share their experiences in matching crystal bracelets and purchasing strategies on the platform. According to the data from Navigation and E-commerce, the highest expected sales revenue for Crystal in 2024 is 3 billion yuan. Among them, bracelets/bracelets are the king of category sales, with a market share of 36.06% and a year-on-year increase in sales of 319.84%.
Among them, young people are undoubtedly the main force driving the market trend. According to a large amount of data, the preference for crystal among the 18-23 age group (TGI index) is significantly higher than other age groups, reaching 239.01, indicating that young "00s" have a high interest and enthusiasm for crystal. Following closely behind is the population aged 24-30, whose TGI index is 130.63. Although slightly inferior, their preference for crystals is still strong.
Why does crystal have such a strong appeal to young people? Zhang Meng frankly stated that the fashion attribute of crystals is the key factor that attracts her. Currently, many celebrities and internet celebrities wear crystals, making owning crystals a symbol of keeping up with the trend.
At the same time, crystals are often associated with various meanings by businesses, such as amethyst for educational purposes, pink crystal for attracting peach blossoms, and yellow crystal for accumulating wealth. For some young people, they are willing to believe in and express their longing and expectations for a better life through this, viewing crystals as a lucky talisman and mascot, and gaining some positive energy from crystals.
Under the crystal craze, some young people began to start the crystal business, and several like-minded college roommates started the crystal business together. This is a memory worth cherishing. ”The Straits Times of Singapore recently reported that several young drama and film students used their spare time to livestream selling crystals in their dormitories, using their own filming and editing skills to document the process of opening a store on social media platforms,
What "pitfalls" are young people afraid of when buying crystals
There are various types of crystal products in the market, and some merchants may increase sales by exaggerating their promotions. For young consumers, how to distinguish the authenticity and value of crystals has become an important issue.
In the field of jewelry, crystals belong to semi precious stones and their scarcity is not very obvious. Brazil, Zambia and other places have relatively abundant raw material production. Therefore, from the perspective of "rarity is precious", the price of crystal is not relatively high compared to other gemstones. Crystals are divided into natural crystals and synthetic crystals. Natural crystals may contain some mineral inclusions, such as color bands and textures, but very high-end natural crystals have high quality and almost no impurities. The price of these rare products will be higher.
From a consumer perspective, Yang Jia believes that when purchasing crystals, consumers do not need to worry about whether they are natural or synthetic, because crystals are not like diamonds, sapphires, etc., and the price difference between natural and synthetic products is many times. Essentially, it is enough to meet the wearing needs.
In fact, most young consumers also hold the same mentality as Yang Jia. Several interviewees told reporters that they buy crystals not for investment or preservation needs, but mainly for emotional value and decorative purposes.
However, in the process of purchasing crystals, young consumers often "step into the pit".
Handcrafted purchase of crystal element strings, not finished products. Gold and diamonds generally have clear guidance prices, while crystal and jade products are difficult for ordinary people to distinguish their quality. At the same time, these products have uniqueness, and many people will buy them based on their 'eye contact' without particularly caring about how much the purchased product is worth. Nowadays, many marketers give crystals some unique virtual value, such as transportation, mysterious energy, etc. When purchasing, they are particularly concerned about labeling them as natural, which is actually formed through dyeing, gluing, and other methods..
Although the crystal market has broad prospects, it faces many challenges, especially the lack of industry standard systems and strict market supervision guarantees. The certificate system is a common practice, and a credible institution is needed to recognize the quality of crystals and eliminate information asymmetry between buyers and sellers.
The global crystal consumer market is also experiencing growth. According to Statista data, the global crystal jewelry market is expected to grow from $1.29 billion in 2022 to $22.83 billion in 2028, with a compound annual growth rate of 14.5%. According to Grand View Research data, it is expected that by 2025, the crystal jewelry market size in North America will reach $8.1 billion, and in Europe it will reach $6.5 billion. The demand for crystal jewelry in the Asia Pacific region, especially in China and India, is rapidly growing and is expected to become the main driving force for the growth of the global crystal jewelry market in the coming years.
The "crystal craze" is upon us, with many young people "starting" to get involved
