The last quarter of the calendar year is always an exciting time for the jewellery sector - the festive season of Dhan Teras, Diwali, Navratri, Christmas and New Year, and the wedding season combine to give a big boost to jewellery sales. Diamond jewellery is particularly in demand around this time.
This festive season has been no different, with sales booming, the ticket size of the jewellery going up and the younger generation opting for style and designs over caratage. Globally, diamonds have been facing inflationary pressures and sourcing prices have shot up in a short span of time. But none of that has made a dent on sales - customers want their diamonds, and they are ready to pay any price for them.
Explains Nisha Mehta of TH Jewels, Mumbai, "Diamond jewellery is selling very well this festive season. The demand for top-end goods and classics is at an all-time high, and innovative designs are commanding a premium. The clientele has changed over a period of the past few years. The middle sector is gone. What we see instead is that customers either want value for money, everyday goods or super luxury. The genuine buyer is aware of inflation, and is willing to pay the price for diamonds. Customers are the rise in prices, welcoming but yes, the price hike is definitely making it more difficult for us to offer new designs as we have limited goods available."
High prices not making a difference to sales
This story is from the September - October 2022 edition of Diamond World.
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This story is from the September - October 2022 edition of Diamond World.
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