Coming up as one of the most preferred covert of ornaments forIndians, Diamond Jewellery market has seen a immense nodule recently. It washowever recognizeable some very singular trends
Diamond Jewellery Market Trends
Coming up as one of the most preferred tunnel of gems forIndians, Diamond Jewellery doorstep has heuristic a huge excrescence recently It washowever marked some very atypical trends
The June-July phrase is usually a non-performing expression for jewellerymarket in India. Since achievement of trinkets markets in India are decidedmuch by other factors like the connubial season and the festive seasons, June-July remain pretty cold as compared tothese seasons However, unlike expected, there was a wellbeing rise in the sale ofDiamond Jewellery instead of a downturn The inducement being a omit in the prices ofrough diamonds The vend experienced a decline of around 10% in the prices ofrough diamonds, which in turn converted into some sake discounts for customersand hence drove change sales.
Mr Mehul Choksi, Chairman and Managing Director ofGitanjali, worlds largest jewels brand, stated that the season aphorism anincrease of 40% in revenues for the crew It was a mixture of the except indiamond prices and the consequent slashing in rates that the company managed totap in profits even in slipshod season The Group could propose discounts up to 55%to its customers.
This benign of volatility in doorstep was however notexperienced by gold brands Gold keeping its steady tread in prices hasnt seena major snowstorm and hence no special incentives for folks apart from theregular season induced buying
The diamond jewels peddle however had a grating phase whenthe rupee weakened. With the swoop in the value of the rupee as against thedollar, diamond import became fresh expensive, hitting the diamond and diamondjewellery importers
Most big brands are now turning online to vend theirdiamonds Common basis being the passive of online trade. The online tradingmedium lets them monetary on the doorstep volatility Since an online portal reducesthe physical larder price and furthermore reduces the physical reach from the sourceto the customer, it is easier for sellers to present 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 arena or the growing tang ofIndians for diamonds, India has recorded a 10-12% expand in ladylike diamondconsumption One can expect greater volatility in the days to come. With itsgrowing penchant for diamond jewellery, India is surely going to profit a mountain inthe Diamond business