Handcrafted gold jewellery sees rise in demand fuelled by small-scale weddings
As social distancing measures denote small-scale weddings, couples are diverting their budget for extra catering and decorations into jewellery, helping handcrafted gold jewellers to recover.
Many jewellers have been counting on pent up wedding jewellery demand to help their businesses recover from the months of lockdown, which saw shops remain shut across India. The continued social distancing regulations mean that weddings remain small, but this is good news for jewellery businesses, according to the Gem and Jewellery Export Promotion Council.
SK Seth Jewellers partner, Deepak Seth, reported high demand for handcrafted gold jewellery in temple and traditional forms, as well as gold jewellery patterned with emerald and ruby beads.
“Brides, who inherit heirloom pieces, are keen to add additional jewellery pieces of similar antique finish, workmanship and designs,” Seth told the GJEPC, about emerging bridal trends.
“It’s obvious that consumers’ demand for gold jewellery is positive, but it will increase gradually,” said Chain N Chains Jewels Ltd director, Anish Birawat, the GJEPC reported. “Since July, when the jewellery industry slowly opened up, we have seen month-on-month increment in sales.”
The challenges that remain in the gold jewellery industry include continued low production levels, due to disruption to the workforce. Many karigars have returned to work, but some remain in their hometowns and delivering finished goods has become delayed, the GJEPC reported.
Seth reported that his business’ production levels are at 30% and demand is close to touching 500% but things are expected to begin to level out.
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