Gold prices have recorded a sharp rise from the levels seen in last year’s festive season prompting the buyers to shift towards the diamonds as an alternative. Retailers are projecting a 15-20% increase in diamond jewellery sales this festive season.
\n\nThey said the Navratri season has begun on a strong footing for studded jewellery. In the season, shoppers look for pieces that offer value while staying within their budgets.
\n\nThis trend has pointed to a broader change in consumer preferences, with diamond purchases increasingly driven by personal choices and everyday use instead of being limited to weddings and other special occasions.
\n\nThe shoppers are increasingly exploring diamond-studded ornaments priced between Rs 10,000 and Rs 1 lakh with the gold jewellery becoming more expensive.
\n\nFurther, the jewellers are turning to 18-carat, 14-carat and 9-carat gold for these pieces. The move aims to keep them in the reach of a wider range of buyers.
\n\n"Diamond jewellery sales have witnessed an uptick at Joyalukkas because it fits the budget of consumers as lower caratage gold is used," Joy Alukkas, chairman of pan-India jewellery retail chain Joyalukkas told ET.
\n\n"We are expecting a growth of 20% in diamond jewellery this festive season. However, competition…
Original source: https://www.timesnownews.com/business-economy
