Jewellery sector gears up for a glittering festive surge
The Indian gems and jewellery sector anticipates a robust 25-30% surge in sales during the festive season, with a strong focus on South India.
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Younger consumers are shifting towards purchasing classic, lightweight pieces that hold personal significance and can be worn daily, reflecting changing consumer preferences.
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The younger generation's increased spending on jewellery, particularly diamonds, highlights a trend of self-expression and independence, with the wedding season boosting consumer sentiment.
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Experts predict a 20% increase in diamond jewellery sales during the festive season, driven by rising consumer spending and "revenge shopping."
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Coloured gemstones integrated into diamond jewellery designs are expected to be a prominent trend, showcasing innovation and modernity.
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The Indian jewellery industry is poised to generate $76.77 billion in revenue in 2023, with an annual growth rate of 4.93% from 2023 to 2026.