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FASHION VALUE CHAIN

Discover the hottest jewellery trends for the upcoming year that will glitter you from top to toe!

In India, gold and silver Jewellery has long been used to mark the celebration of new beginnings – whether it be childbirth, marriage, anniversaries, or as presents during religious festivals. Antique bridal jewellery pieces are still preferred in the country’s northern parts, while 22-karat gold jewellery is popular in the west and south.

While this trend continues now, people are also exploring other forms of jewellery, partly due to shifting societal norms and the rise of women’s roles in the workplace. Jewellery pieces created from unusual materials and modern designs are sometimes inspired by traditional designs and are becoming increasingly popular. Today’s consumers are no longer hesitant to invest in jewellery that assimilates mixed metals with once-peripheral gemstones like quartz, tanzanite, or morganite that take center-stage among luxury pieces such as rubies, emeralds, and sapphires.

Consumers, mainly women, who have now taken a front seat as the primary jewellery buyers, unlike in earlier times, are willing to pay a high price for the jewellery if they see value in the product that fits well with their aesthetics. With their higher disposable income and desire to redefine themselves, this consumer segment, mainly comprisedof millennials, has championed the rise of functional accessories in the organized retail industry and assured their diversity.This change in consumer attitude has bolstered jewellery brands and designers to experiment with their designs and pieces, thereby pushing jewellery into the artistic realm.

Times of Tailor-Made, Timeless Jewellery

Today’s consumers are looking for jewellery that is durable, bold, pocket-friendly, and one that allows them to express themselves. Gone are the days when people would blindly wear plain, basic jewellery pieces they would inherit from their mothers and grandmothers. Those with an eye for detail are particularly looking for the jewellery with a story, signature, and unique craftsmanship. Moreover, there has been a drastic rise in personalization in the last year, which indicates that now more than ever, customers have clarity and vision of what they want and how they want to appear donning those jewellery pieces.

Besides, the fact that artificial, fashionable jewellery is easily accessible, wearable, and stylish has propelled modern women to embrace them on regular occasions. These jewellery pieces are also lightweight, which makes them easy to carry, especially for events like weddings. Whether one needs something simple and delicate for workwear or trendy and traditional for a family event, the market has ample varieties for every taste. And interestingly, today, there is a wide variety of jewellery designs in the fashion jewellery space offering versatility. Women, in particular, now consider jewellery an aspirational asset and strive to invest in pieces that can be owned and adapted to the latest fashion trends.

Glorious Gold is Here to Live Forever

Traditionally, gold has always been perceived as a symbol of prosperity and social stature. However, the ever-increasing price of this metal (INR 53,000) and the shifting investment preferences haveallowed buyers to purchase gold for exclusive life-changing events like marriage or birth and opt for antique jewellery items for smaller occasions that may not necessarily demand a huge investment as the former. Furthermore, even those looking to invest in gold no longer view this precious metal as something in the locker but rather as a lifestyle product aligning with one’s style statement. This evolution in perception is making gold enthusiasts seek lightweight and regular-wear gold jewellery rather than the chunky old heavy designs.Consequently, even retailers focus on providing intricate and lightweight designs with the necessary purity certifications. In turn, the consumers are getting value-for-money designs that contribute to the wardrobe aesthetics of the women.

From a broader perspective, these factors play an essential role in expanding the retail jewellery market – whether gold or antique jewellery. Either way, it’s a win-win for retailers and customers, as they get real-time insights into customer demands and feedback and an opportunity to introduce new styles with a more significant intent of retaining customers. This way, customers, too, can make better choices.

Jewellery brands and designers are ready to step up and offer the likable – whether in gold or antique. Relying heavily on customization, celebrity endorsement, e-channels, and influencer marketing, modern jewellery brands are changing the face of the industry with unique designs and aspirational value. On a brighter note, the jewellery industry seems to have a dazzling future, and no matter the trends, they are receiving widespread acceptance among customers!

Article to be attributed to Aditya Modak, Co-founder, Gargi by P N Gadgil and sons