commerce

And it is attention-grabbing to observe that, whereas nearly all of retailers agree that gold jewelry markets of their areas have reached saturation or over-saturation, some imagine there’s still opportunity for development. And most of those optimists are from high-tier cities where competition is fierce. The outperformance of each Heritage and Hard-Pure gold jewellery have each outperformed different products in sales and profitability proves that product innovation is key to unlocking the potential for growth. The rise of “Guochao” – as famous in our previously reports – has been a serious driver of Heritage gold’s popularity. This, together with the structural trends mentioned above could present challenges to gold jewellery demand. It will be essential for retailers to be aware of the newest and key market developments if they are to determine and pre-empt opportunities.

Aditya Birla Group’s jewelry business, Novel Jewels Ltd, will begin operations in July with an investment of Rs. 5000 crore. The company goals to establish large-format unique jewellery retail stores throughout India, creating an aspirational nationwide brand with unique designs and a powerful regional flavour. Interestingly, most of the retailers who imagine there is still room for extra gold jewellery stores are in high-tier cities …