One hour without a single customer, well-known jewelry shop reduces hundreds of branches: the era of making quick profits by opening a store with gold has ended.

After the implementation of the new tax policy on gold and diamonds, journalists visited several gold and diamond stores in Guangzhou and observed that even well-known brands like Chow Tai Fook and Lao Feng Xiang, located in core business districts, had very limited customer flow during non-peak hours. Some brand stores located in the suburbs even faced the embarrassing situation of not having a single customer waiting for an hour. Jiang Han, a senior researcher at Pangu Think Tank, expressed during an interview with journalists that gold jewelry, as a high-priced, low-frequency, and experiential non-standard product, traditionally relies heavily on the conversion of foot traffic and scene trust in core business districts. However, the significant decline in customer flow in first-tier city business districts has led to the failure of the logic that "location equals traffic," and store productivity continues to be under pressure. Consumer shopping behavior is accelerating its migration online, combined with the shrinking of traditional demand scenarios such as weddings, making gold jewelry stores face a structural dilemma of "having a store but no customers," and reliance solely on location advantages is becoming unsustainable.