The love for jewellery, especially gold is not a new thing for the Indian consumer. The fascination for gold is centuries old and with time it has been an integrated part of the retail and Indian economy. It is considered one of the most precious metals, and its value has been used as the standard for many currencies, through history, across the world. This is what we refer to as the gold standard.
Gold has come to stand for purity, value, and royalty. And roles that combine all these properties are distinctively symbolized by gold. With its universal value and stature, gold is often regarded as the best investment for common people. Gold is, and will always be at the top of the pyramid, and therefore India’s appetite for jewellery is totally considerable.
Be it COVID or pre-COVID, change is the only constant and gold being an essential part of the retail is not untouched from it. The year 2020, the pandemic succeeded in changing the face of every single industry and including gold and jewellery. However, the change was far from unpleasant. As far as this industry was concerned, this heralded the beginning of a new era. An era which is more customer-centric and userfriendly. Through these challenging months, gold has reaffirmed people’s faith in its value as a long-term investment and as security for hard times. There are changes for good that are redefining the future of the jewellery industry.
Meanwhile, the structure of the gold market is facing an unprecedented wave of change resulting from evolving gold demand patterns, regulatory changes, new types of participants and even newer innovations. The response of individual gold market centres to these opportunities and potential threats is what will shape the gold trading landscape over the next decade and beyond.
The Digital Storm
Denne historien er fra February 2021-utgaven av Images Retail.
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Denne historien er fra February 2021-utgaven av Images Retail.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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