Jewelry industry

How the Jewelry Industry Shines Amid the Post-Pandemic Holiday Season

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The current festive season has witnessed a meteoric rise in gold and jewelry sales across the country, especially in Dhanteras.

Speaking about the post-pandemic holiday season, Amit Pratihari, Vice President of De Beers Forevermark, said: “The sales response is extremely strong in this festive season. We see many walk-in customers on the auspicious day of Dhanteras. All of our partner retailers had good sales and that set the tone for the season. We expect growth of around 20-25% this year.

Along the same lines, PP Jewelers by Pawan Gupta offers ultimate jewelry where Indian traditions are interpreted in modern cuts and styles to revive the spirit of the festive season.

“Surrounded by laughter, loved ones and good vibes, India is ready to welcome this festive season in grace and style,” specify the brand.

Keeping up with the new normal and the latest trends, PP Jewelers presented a range of graceful and elegant necklaces, bracelets, bracelets and pendants. Euphoria from PP Jewelers is an ode to the happiness and excitement that festivals bring to life.

With the jewelry market already on the path to a strong recovery, Raj Diamonds has seen strong diamond jewelry sales this festive season, driven by positive consumer sentiment and pent-up demand.

According to Eshwar Surana, Managing Director of Raj Diamonds, this time sales have increased by around 20% compared to the last Dhanteras.

“We expect this to continue as we are already seeing an increase in consumer spending. The increase in disposable income, the growth of Gen Z and Millennials and consumer preference for investing in things significant are some of the key factors driving the demand for diamonds,” said Eshwar Surana.

In keeping with the festive spirit, Raj Diamonds had launched an exquisite collection – FUTURO, featuring ceramics and diamonds in futuristic designs, and we witnessed a huge demand for our new collection this festive season.
It includes rings, earrings, pendants and an array of several other handcrafted diamond encrusted jewelry pieces to sparkle the party and wedding season.

“We believe that consumers will continue to spend on valuable, niche products that convey a strong emotional connection and that the magic of diamonds will continue to mark our most precious moments, connections and engagements,” Surana then added.

With this year’s Dhanteras “auspicious muhurat” spread over the weekend – from Saturday evening to Sunday evening, Senco Gold & Diamonds has also witnessed many pre-bookings of jewelry for the latest purchases on the day of Dhanteras .

“Customer sentiment appears to be positive due to the recent reduction in local gold prices. Store traffic has been very good and we expect this to be more than we saw last year. Note sizes, however, were slightly lower than last year. Diamond jewelry sales were up, especially with lightweight everyday wear and statement pieces,” commented Suvankar Sen, MD and CEO, Senco Gold & Diamonds.

Additionally, the brand is also experiencing a surge in demand for men’s jewelry, especially in the form of chains and rings.
With the upcoming wedding season, Senco Gold & Diamonds is also witnessing an increase in the number of upcoming bridal clients, which accounts for approximately 25-30% of total client sales.

Factors such as lower gold price, offers, positive customer sentiment and increased footfall in stores offset the slightly lower average purchase ticket size, which that brightens up the holiday season

“Demand for traditional silver and gold coins is steady, however, we saw 40% more digital gold sales on our myDigiGold platform compared to other months of the year, mostly from millennials , Sen added.

Factors such as lower gold prices, offers, positive customer sentiment and increased footfall in stores offset the slightly lower average purchase ticket size, which that brightens up the holiday season.

“We believe this Diwali will be slightly better for our industry compared to the base and high performance of last year, expecting the standard low double-digit percentage of sales in terms of value for the season. We are seeing also to a substantial shift to digital payment method and we are also encouraging the same for faster service to customers,” concluded Suvankar Sen.

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