Platinum Guild International’s India sellers report 35-40% jewellery sales growth in Q4
Platinum Guild International’s retail partners in India reported 35% to 40% year-on-year jewellery sales growth in the fourth quarter of the 2021 calendar year, thanks to the wedding and festive season and a dip in the pandemic.
Ahead of the third wave of Covid-19 which rang in the New Year, the fourth quarter of 2021 saw strong business recovery for India’s platinum jewellery, the Gem and Jewellery Export Promotion Council reported on its website, citing the latest Platinum Jewellery Business Review. Increased consumer traffic and fewer active Covid-19 cases combined with stores being fully operational led to positive growth.
“Platinum jewellery sales from strategic partners surged against a strong festive season last year, driven by targeted promotional activities for new collection launches, amplified retailer campaigns, and programmes to increase conversion,” read the Platinum Guild International’s report.
However, despite the strong quarter, the third week of December saw the first effects of the third wave of Covid-19 felt across the jewellery industry.
“There is likely to be pent-up demand and revenge buying once the third wave subsides, as a lot of wedding buying has been pushed back due to rising cases,” read the report.
“This can be a growth opportunity for platinum with timely consumer and trade marketing programmes.”
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