All that glitters need not be gold.
With the world facing a pandemic situation, the stock market is not as bullish as experts had predicted. But with minor highs and lows, gold has maintained an increasing trend. What can this imply for the Indian jewellery market? Soaring prices of gold have never been a deterrent in it’s sale and purchase before. However, we also see a segment of alternatives that have come up in wake of the market conditions. Gold has just remained as an intelligent investment instead of an ornament that can be changed with the latest trends.
The term Tradition refers to customs, beliefs and cultural practices that are passed on from one generation to the next. It finds its origin in the past, whereas modernity refers to contemporary way of doing things today. It is fresh, new and current. With reference to India both traditional and modern styles of ornamentation succeed equally. Indian culture is a blend of traditional values with a modern touch. Indian contemporary jewellery is an ideal combination of traditional forms with stylised motifs.
Call it a cultural norm or an ethnic inclination, jewellery has remained an important part of the Indian lifestyle. The design preferences may have changed over time, but we cannot abstain from jewellery purchases no matter how modern the society may get. India has grown leaps and bounds with the advent of technology and social media, that has greatly influenced fashion. We buy things we see, we wear what the world is wearing and we want to be fashion forward at every step. Being fashion conscious also means following the seasons and trends that had not been taken into consideration earlier for traditional shopping or for jewellery and accessories.
During the short span of time where most people have experienced the luxury of shopping from the comforts of their homes, there has been another group of people who say that the experience of shopping for a product is also important. Experiential marketing comes into picture when we look at the increasing amount of consumers who are looking for something more than just convenience from the brands.
Taking all of this into consideration, we can safely say that the Indian market is now ripe for designer jewellery that follows the trends of the season while keeping the traditional aesthetics in mind. These designs may or may not be made of solid gold but the consumer is now ready to pay for the innovativeness and the design process of a product, rather than just the literal cost of the raw material required for the jewellery. The need of the hour is a store that can address all the requirements of the market while giving access to options that were not available earlier.