With Over 3 Billion Views, Prices Soar... 'Igeot' Captivating MZ Generation Also Faces Resale Frenzy in China

Some People Make Profits by Reselling Products

Recently, crystal bracelets have gained attention as a fashion item among young people in China, causing prices to soar.

Chinese local media such as Sina Finance and Huanqiu reported, "With the start of the new year, crystal bracelets have established themselves as a new fashion item among young people, with prices more than doubling compared to two years ago."

Crystal bracelet. Pixabay

On Xiaohongshu, the Chinese version of Instagram mainly used by young Chinese, the number of search results for posts containing the keyword 'crystal' has reached 2.3 billion. On Douyin, the Chinese version of TikTok, the number of views for crystal-related videos has exceeded 3.04 billion.

Compared to other gemstones such as diamonds, jade (玉), and jadeite, crystals are relatively inexpensive, making them a jewelry item that provides great satisfaction to young Chinese with a small investment.

Mr. Bao (包) said that interest in crystals has increased through social networking services (SNS). In an interview, he revealed, "Since two months ago, I have bought more than 20 crystal bracelets during live broadcasts, spending over 2,000 yuan (about 790,000 KRW)."

Crystal, popular on Chinese SNS. Baidu

As the popularity of crystals has risen, prices have increased 2 to 3 times compared to two years ago. There are forecasts that prices will continue to rise.

Mr. Tang (唐), who has been in the crystal business for over 10 years, explained, "In the past two years, the price of mid-range crystal products has risen from 2 to 3 yuan per gram (about 400 to 600 KRW) to 6 yuan now." Xiao Ming (a pseudonym), a wholesaler and retailer of crystal bracelets, predicted, "Prices have been rising daily since around October last year, and are expected to continue rising after the Spring Festival (Chunje, the Chinese New Year)."

With the rapid price surge in a short period, some people have started reselling products for profit. Xiao said, "One customer bought items for over 3,000 yuan (about 590,000 KRW) in the first half of last year and sold them for more than 4,000 yuan (about 790,000 KRW) by the end of the year." The popularity of crystal bracelets is also backed by active promotion by celebrities. Taiwanese singer and talent Yi Nengjing has appeared multiple times on live broadcasts since September last year to sell crystal products.

Economist Song Qinghui pointed out that the market price is being inflated as crystals gain popularity. He emphasized, "If you plan to invest, you should be cautious of risks such as counterfeiting and quality issues."