Traditional collectibles: the new social currency for Chinese youth
Traditional collectibles - artifacts with investment or collection value - are no longer just for the elderly. Various aesthetic pieces symbolizing good fortune have become social currency among young people, with bracelets being particularly loved by young women. Content like buying guides, symbolism explanations, bracelet styling tips, and store visits resonate deeply with younger audiences. On Xiaohongshu, the hashtag #Traditional Collectible Girls (文玩女孩) has over 2.4 billion views, while on Douyin, the hashtag # Traditional Bracelets (文玩手串) has 12.7 billion views, and #Traditional Collectibles (文玩) has an impressive 33.55 billion views.
RED posts about buying guides, bracelet styling tips, store visits for traditional bracelets. Image: Xiaohongshu @七七饰石久 @十六夏原创手作 @一些小物件~
Chinese youth are buying traditional collectibles not just for decoration or fun but as a form of "spiritual comfort." They hope the symbolic meaning and energy behind these items will help them relieve anxiety and heal in their stressful lives.
New forms of livestreams have fuelled the growth of the collectibles market. Young buyers can now engage with sellers in real-time through e-commerce livestreams to get information and express their preferences. This has allowed businesses to tailor products to fit the tastes of young consumers, with new designs being released as quickly as fast-moving consumer goods like coffee or tea.
Collectible products that fit the tastes of young consumers featuring dopamine-inducing colors, funny shapes and looks, practical design as a phone chain. Images: Xiaohongshu
Collectible appraisal livestreams are gaining popularity due to their entertainment value, while also driving sales. The appeal comes from the excitement of appraising items in a "blind box" style (random video calls with views to appraise their collectibles). These streams often include humorous, whacky modern replicas, like a Mona Lisa holding pistols or Ultraman jade statues, adding a playful touch.
Humorous, whacky modern replicas showing up in a famous collectible appraisal livestreaming channel (@听泉鉴宝, nearly 15.8 million followers on Douyin). Images: Douyin
The investment value of the collectibles market is nearing ¥1 trillion ($140b) according to the Hurun Research Institute, with strong growth continuing. The appraisal industry, closely tied to collectibles, currently boasts over 31,000 companies in China. Over the past five years, this sector has steadily grown, with 2020 marking a record increase of 14,000 new companies—a 285% year-on-year growth rate. Top livestreamers in the collectibles and jewellery domain are also emerging. Public data shows that, in July 2023, three streamers in the jewellery and collectibles niche topped the sales charts, with the top two each generating over ¥500 million ($70m) in monthly sales.
The booming growth of the collectibles market is not only driven by young people’s pursuit of emotional value but also by increased platform support. Douyin has established integrated centres for product inspection, shipping, and warehousing to ensure that each piece of jewellery or precious gemstones sold on its platform is individually inspected. Kuaishou has also partnered with authoritative institutions to launch its “True Treasure Warehouse” service, applying stricter governance in the jewellery and collectible sector with tailored inspection and penalty measures for different merchants.
