Following Dhanteras, jewellery retailers have high hopes for winter wedding season

By

Isabelle Crossley

Published
Oct 27, 2022

Despite pressure stemming from inflation, fine jewellery sales increased by around 35% year-on-year during Dhanteras. Jewellery brands are equally hopeful for a strong wedding season this winter.

“The customer sentiment this festive season has been very positive,” said De Beers Forevermark’s vice president Amit Pratihari, ET Retail reported. “The upcoming marriage season is further driving sales for gold and diamond jewellery.” 
 
This wedding season will go ahead without any Covid-19 restrictions which should lead to larger numbers of weddings compared to last year, when some restrictions remained. The summer wedding season was also slightly muted due to high gold prices so lower rates should help to boost demand.

Senco Gold and Diamonds reported strong sales this festive season, thanks to reductions in local gold rates, but noted that the average ticket size was lower than last year. Wedding jewellery is already shifting and the category is currently contributing around 25% to 30% of the brand’s total sales, Senco Gold and Diamonds’ managing director and CEO Suvankar Sen told the Economic Times. 
 
The Indian jewellery industry has been shifting towards organisation over the past few years, especially in metros. This trend has helped large-scale retail chains increase revenue as shoppers increasingly value the consistency and security they provide. The introduction of mandatory hallmarking also accelerated this trend as large jewellery brands were already hallmarking their gold jewellery.