Mr. Colin Shah, MD, Kama Jewelry.
Upbeat consumer sentiment beats gold price volatility; gems & jewellery sector witnesses robust demand this Akshaya Tritiya. This year, a correction in gold prices has complemented the robust buying appetite of consumers, translating into strong traction in domestic jewellery sales despite the economic volatility. Consumer preferences are rapidly evolving, and this reflected in the growing affinity of the young first -time buyers for lightweight practical jewellery, especially diamond-studded pieces in 9k, 14k, and 18k categories.
While selective purchases of plain jewellery in 22k have also been recorded, the overall demand remains balanced. Overall, the industry has witnessed an approximate 15% year-on-year spike sales, with healthy ticket size and renewed confidence among buyers towards the precious metal. Going forward, we foresee this sentiment to strengthen further as India approaches the festive season.
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