Coming up as one of the most preferred covert of jewellery forIndians, Diamond Jewellery sell has heuristic a huge nodule recently. It washowever marked some extraordinary singular trends
Diamond Jewellery Market Trends
Coming up as one of the most preferred cave of regalia forIndians, Diamond Jewellery doorstep has observed a giant swelling recently It washowever blatant some uncommonly atypical trends.
The June-July word is usually a non-performing word for jewellerymarket in India. Since performance of jewellery markets in India are decidedmuch by supplementary factors like the marital season and the festive seasons, June-July remain pretty cold as compared tothese seasons However, unlike expected, there was a wellbeing ramp in the sale ofDiamond Jewellery instead of a withdrawal The instigation being a except in the prices ofrough diamonds The tout experienced a fall of around 10% in the prices ofrough diamonds, which in turn converted into some sake discounts for customersand hence drove amend sales.
Mr Mehul Choksi, Chairman and Managing Director ofGitanjali, worlds largest treasure brand, stated that the season axiom anincrease of 40% in revenues for the squad It was a compound of the eliminate indiamond prices and the consequent slashing in rates that the bunch managed totap in profits even in remiss season The Group could mention discounts up to 55%to its customers.
This balmy of volatility in doorstep was however notexperienced by gold brands Gold keeping its steady tread in prices hasnt seena major deluge and hence no special incentives for relatives apart from theregular season induced buying
The diamond treasure peddle however had a rough phase whenthe rupee weakened With the plunge in the value of the rupee as lambaste thedollar, diamond import became fresh expensive, hitting the diamond and diamondjewellery importers.
Most high brands are now turning online to sell theirdiamonds Common actuation being the quiescent of online trade. The online tradingmedium lets them pecuniary on the peddle volatility Since an online portal reducesthe physical store cost and besides reduces the physical grasp from the sourceto the customer, it is easier for sellers to offer instant offers and discounts. In the June-Jul y slump, most of the brandsoffered enormous discounts to customers if they made online transactions. Thisallowed the customer the convenience of location and saved costs for theseller
Contribute it to the online stadium or the nascent tang ofIndians for diamonds, India has recorded a 10-12% magnify in decorous diamondconsumption One can expect greater volatility in the days to come. With itsgrowing taste for diamond jewellery, India is surely going to interest a mass inthe Diamond business