The festive season starts well in October with Navratri but jewellery steals all the shine closer to Diwali – especially at Dhanteras. Traditionally associated with prosperity and wealth, Dhanteras sees a surge in demand for gold, diamonds, and other precious metals. We observe certain trends that form the pulse of the season. This season, certain trends reflect the evolving tastes and aspirations of consumers, capturing the spirit of festivity in their design choices, investment sensibilities, and buying patterns.
The ever-rising price of gold and the ballooning demand for unique, investment-worthy pieces remains at the heart of the season.
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Jewellery Designs in Vogue this Season
Lighter designs with an understated aesthetic are the crowd pullers this festive season. Smaller pieces incorporating minimal diamonds and gold in 14kt to 18kt are becoming increasingly popular for their subtle charm and versatility. Pure gold pieces are no longer in vogue. Gold pieces adorned with coloured stones are gaining popularity, bringing vibrant accents to traditional jewellery. Added elements like ghungroos and pearls, which lend an extra dimension, are also being highly appreciated for their unique charm and textural appeal.
Brides, now more conscious of their spending, are shifting away from single, high-value pieces. Instead, they are opting for variety, choosing multiple pieces within the same budget to create a layered, versatile look.
What Age Demographic is Hitting the Counters
There is a wave of younger consumers who are driven by investment motives who are buying precious metal pieces. Silver jewellery being lighter on the pocket and more minimalist in nature, makes it a favourite among Gen-Z. Besides being a great stylish addition, silver is also witnessing a value boom. Last October, the metal was valued at INR 68 per gram and is now at INR 102 per gram—a rise partly driven by its surging use in the tech sector.
Motives Driving Sales
Investment is the leading motive for sales this season. Precious metals, particularly gold, serve as a robust investment avenue, helping diversify portfolios while ensuring steady wealth growth. For instance, over the past few weeks, gold prices have surged from INR 70,000-72,000 per 10 grams to INR 78,000, nearing the INR 80,000 mark.
Interestingly, consumers are moving away from jewellery to invest in gold commodities such as coins, bars, and other forms of gold.
An undercurrent of economic and geopolitical instabilities is pulling people towards precious metals.
Consumer Trends
Consumers are not shying away from buying gold even with the sustained rise in price of gold. Festive spirit, surprisingly, is not the driver behind consumption. The sentiment of investing in precious metals is taking precedence over the ever-pleasing aesthetics and beauty of jewellery. This season, jewellery is being viewed as both a symbol of prosperity and a savvy long-term asset.
Inputs by Surbhi Shekhar, CMO at Manohar Lal Jewellers