Jewellery is one of the more popular forms of self-expression through fashion. It isn’t surprising to note that the Indian jewellery market accounts for a sizeable chunk of the global market. According to statisticians, the value of the gold jewellery market is set to increase exponentially in the coming years.
As of last year, 2019, the global luxury jewellery market was valued at around 21 billion Euros. The lion’s share of this market is attributed to 4 countries – China, the USA, Japan and India. By 2025, it is expected to grow to over 480.5 billion dollars. There are no reasons why this trend should change directions and by 2027, this market share will only grow bigger. Whether it’s a chunky bracelet like the Plume Play Gold Bracelet or a pair of dainty earrings like the Marlane Stud Earrings, the jewellery styles you wear says a lot about your likes and dislikes and boosts confidence levels.
Indians And The Gold Jewellery
In India, jewellery is not only associated with fashion but has always been a popular form of accumulating wealth and investing for the future. By the end of April 2020, the RBI increased its gold reserves to 654.9t by stepping up its gold purchases. Given the ever-increasing prices of gold, every piece of Indian gold jewellery from a ring-like the Miley Smiley Diamond Ring or a necklace like the Mine Diamond Necklace (Product Code: MBNK20409) will increase in value as the years go by. It is probably for this reason that gold jewellery is favoured over other forms of jewellery.
Indian gold jewellery is also traditionally associated with festivals and family functions like a wedding. For festivals like Diwali, Karvachauth, etc, wearing a piece of gold jewellery like the Mickle Diamond Earrings or the Ace of Base Gold Round Bangle is considered auspicious. In fact, celebrations for some festivals are actually considered incomplete without buying a piece of gold jewellery. When it comes to weddings, gold jewellery has always been a winner.
Gold jewellery designs like the Dakshatha Sankalp Gold Necklace are popular for the main wedding ceremonies while lighter jewellery styles like the Ginevra Necklace as seen on Finaura are worn for pre-wedding functions. What will also be contributing to the growing Indian jewellery market is the globalization of Indian wedding ceremonies. For example, in addition to gold for a bride trousseau, couples are also investing in wedding bands like the Iris Gold Band for Her and the Clark Gold Band for Him.
Gold – A Safer Investment Option
Another reason for the growing popularity of jewellery on gold jewellery design finders is the low rate of interest for other investment avenues. In response to the COVID-19 pandemic, global markets have contracted and other forms of investment like fixed deposits and mutual funds are not showing the same returns as they once did. The stock market too is risky. However, gold prices have little chance of dipping.
There’s also convenience to be factored in. Though traditional brick-front stores may not see many visitors, jewellers have pivoted to the online market to meet demands. With the launch of gold jewellery design finders like Finaura, people can now buy gold jewellery designs from some of India’s top jewellers without stepping out of their homes.
With eCommerce extending into the jewellery market, buying jewellery has never been easier or more convenient. When talking of convenience, you cannot afford to miss out on mentioning the EMI structured payments offered by many jewellers. It’s a combination of all of these factors that contribute to the exponential increase of the global gold jewellery market.
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