Gems and jewellery sector in China, Hong Kong, and the USA is showing some green shoots, but India is still feeling the heat of the situation and isn’t showing major signs of recovery.
All the same, worries about day to day operations and whether artisans will return to work in time, will they be able to meet the expectations of their clients and new government norms, etc are problems that they cannot seem to escape.
Demand-Supply Situation
Many corporate houses have laid off part of their staff, they have also asked existing personnel to accept pay cuts, in this scenario per capita disposable income has reduced considerably. In addition, gold prices have rocketed like never-before. As a result, demand for gems and jewellery is likely to reduce considerably.
Jewellery retailers, present a different viewpoint. According to Anil Kataria, DP Jewellers, Indore, “Those who have weddings and other important functions planned in their families, will come forward to buy gold.” There’s truth in his words, which are based on years of business experience and having survived several economic downturns.
“People may cut down on spending on other luxury goods, like high fashion, or expensive cars, etc -- but father of the bride will always gift his daughter lots of gold on her wedding day, because it is an investment, which she can fall back on, anytime in life,” he explains.
All said and done, life may not be the same again after the pandemic, “The pandemic will force gems and jewellery retailers to adjust to a whole new normal – ways of conducting business will have to change,” opines A Shivaram, founder of www.retailgurukul.com.
Diese Geschichte stammt aus der April - May 2020-Ausgabe von Indian Jeweller.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der April - May 2020-Ausgabe von Indian Jeweller.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
LEGENDARY PHILANTHROPIST SULTAN SINGH BACKLIWAL PASSES AWAY
Late Sultan Singh Backliwal was a revered figure, renowned scholar, businessman and philanthropist -- the extent of his benevolence continues to inspire many
BRETT LEE INAUGURATES MALABAR GOLD & DIAMONDS SHOWROOM IN SYDNEY
Malabar Gold & Diamonds, ranked as the sixth largest jewellery retailer globally, has opened its latest showroom in Sydney, Australia - with this, the company has marked a presence in 13 countries.
PLATINUM EVARA EMBRACES THE SPIRIT OF THE WOMEN'S PREMIER LEAGUE
The rise of women’s cricket in our country has been nothing short of inspirational and it offers the perfect platform for Platinum Evara, platinum jewellery aimed at the young woman segment.
GARGI BY PNGS EXPANDS ITS REACH WITH SECOND FRANCHISE OUTLET IN NASHIK
Gargi by P N Gadgil & Sons (PNGS), the prominent publicly listed fashion jewellery brand, has launched its second franchise outlet in Nashik.
KISNA DIAMOND AND GOLD JEWELLERY UNVEILS EXCLUSIVE SHOWROOM IN AGARTALA
KISNA Diamond and Gold Jewellery, a leading name in the exquisite jewellery industry, celebrated the grand opening of its first-ever exclusive franchise showroom in Agartala, Tripura recently.
KHIMJI JEWELLERS UNVEILS NEW WEDDING CAMPAIGN "NO COMPROMISE!"
Khimji Jewellers, Odisha’s favourite jewellery brand renowned for its rich legacy of 88 years in crafting exquisite jewellery, has announced the launch of its latest bridal jewellery campaign, “No Compromise!”
GOLD REFINING PRESENTS SIGNIFICANT OPPORTUNITY IN INDIA: IFSCA CHAIRMAN
K Rajaraman, Chairperson of the International Financial Services Centres Authority (IFSCA), has advocated for the establishment of gold refining facilities within India, citing its significant position as a major global purchaser of the precious metal.
UNION BUDGET 2024: GEM AND JEWELLERY INDUSTRY CONCERNS NOT ADDRESSED
In her final outing before the polls, Finance Minister Nirmala Sitharaman presented a budget which held no major surprises.
BROADLY SPEAKING WHY I KEEP LAB-GROWN DIAMONDS AS A SEPARATE CATEGORY IN MY STORE
Lab-grown diamonds, a much sought-after product in the US, are increasingly finding greater acceptance in India as well. Retailers are benefitting from stocking both natural and grown-diamond jewellery, as it enables them to cater to different categories of customers under one roof, and address ethical concerns, finds out Suneeta Kaul in a conversation with AVR Siddhanth of AVR Swarna Mahal
SENCO GOLD & DIAMONDS CRAFTS IMPACTFUL CAMPAIGNS
Senco Gold & Diamond skillfully crafts impactful campaigns that touch the hearts of customers living in different regions of the country, finds out Priyanka Talreja Garegrat in a conversation with Joita Sen, the Design Head of the company