Ever since Covid came into existence the outlook of people towards life and other things has changed completely. The global pandemic has affected the life of many people especially the in terms of businesses, jobs and employment.
The impact on the employment sector has also greatly impacted the jewellery industry as well mainly because the buying power of people are limited. The demand is there and it will exist but the demand does not imply that people are actually willing to buy jewellery in such uncertainty.
Demand will soon become regular for Indian bridal jewellery, as brides are able to have their big fat Indian wedding with no restriction on guest limit.
So what actually lies ahead in the future for the Indian jewellery industry. Many people consider it as a mere form of investment whereas people are hopeful that as soon as the phase is over it is going to be a transformational phase for the industry.
Some designers have seen an increase in the sale and the main reason behind this is that the desire to purchase has been suppressed. Now as the pandemic is gradually easing out, people are feeling more confident about their purchase or investment in the form of gold.
According to several researchers, the trend of wearing Indian jewellery is going to continue till eternity as it is a pivotal aspect of their culture and traditions. Their festivities are incomplete without the jewellery as the traditional attire looks elegant when it is paired up with the right thing.
However, at the same time one cannot completely ignore the fact that a lot of new jewellery designers are coming up and they specialize mainly in curating pieces that are not made up of real gold but are gold plated.
This gives them a certain edge over others as the buying power that has been suppressed because of Covid in terms of purchasing real gold could have been eased out because the alternate option was available.
Many people instead of purchasing real gold decided to go for the gold plated jewellery as the new designers are creating pieces in such a manner that no one can spot out visible differences till there is a major defect in the design.
Furthermore, there has been a considerable increase in the use of designer jewellery. Many new brands have made their shift towards the jewellery sector and people are more than happy to purchase the designs curated by them.
The maximum amount of increase was visible in the purchase of watches as a lot of new variations have been added in the design which urges the people to purchase at least one from the collections launched by the well-known designers.
Now as the competition between different brands is quite intense hence every designer is now looking for ways to ensure that their brand stands out amongst the rest. They are introducing distinctive designs as the more different a product is the more people are going to purchase it.
It would be quite interesting to see how different small brands try to compete with the big brands as they don’t have the required resources and marketing tools to target a huge market.