Jewellery Brands Bullish On Glittering Festive Season This Year

by Vijay Yadav

As the festive season reaches a crescendo, with Diwali just around the corner, the industry is looking back at this year’s festive season with great satisfaction. Almost all sectors have seen bumper sales as consumer sentiment recovered after two years of subdued living. Along with the other sectors, the jewellery sector, too, is bullish on this year’s festive season. We have been seeing jewellery brands of all hues launch ad campaigns with various offers and new launches to woo the consumers.

The occasion of Dhanteras, which precedes Diwali by a couple of days, is expected to see brisk business. Traditionally, Dhanteras is observed as an auspicious occasion to buy ‘Dhan’ or riches for the home and family. This triggers a frenzy for buying jewellery, gold coins, as well as household utensils. Moreover, the beginning of the wedding season in the country also sees a massive rush in jewellery stores.

For long the family jeweller has been the go-to avenue to purchase jewellery, where trust and word-of-mouth are very strong factors. However, over the years, branded jewellery has made serious inroads in the hitherto largely unorganised market. Brands like Tribhovandas Bhimji Zaveri, Tanishq, Kalyan Jewellers, PC Jewellers, Malabar Gold & Diamond, Senco Gold, Joy Alukkas, Reliance Jewels, among others, command a sizeable chunk of the jewellery market today. These brands have been investing heavily on marketing and advertising campaigns, using technology to improve manufacturing standards, bringing in several design innovations to cater to different occasions and to suit every budget, and more.

Along with the retail stores, online jewellery platforms have also come up that have been able to win the consumers’ trust – such as CaratLane, Candere, Bluestone, Orra, along with the online buying facility offered by the bigger brands like Tanishq, Kalyan Jewellers, Reliance Jewels, etc.

In keeping with the spirit of the festivals, several brands have launched new collections this year. Reliance Jewels has launched an exquisite collection of fine jewellery, called ‘Kaasyam’. The collection is inspired by the art and culture, temples and architectural marvels that personify Banaras’ rich heritage, tradition and beliefs. Raj Diamonds has launched an exquisite collection, called ‘Futuro’, with ceramic and diamonds in futuristic designs. The new collection features rings, earrings, pendants and an array of several other handcrafted diamond-encrusted jewellery pieces.

Sharing her views, Ankita Srivastava, CMO, Kisna Diamond & Gold Jewellery, noted, “Diwali being one of the biggest jewellery retail seasons, brands are going the extra mile to leverage and optimise the big-ticket purchases. Communication spends have been enhanced, stories relevant to consumers – whether on type of jewellery or accessibility – are being churned out by brands. Moreover, festive offers on products and new collection launches are lighting up the mood. In the digital space, brands are focusing on influencer marketing and purpose-driven narratives with the launch of digital campaigns.”

When asked about how this festive season is looking for the jewellery sector, Srivastava said that given that the Indian jewellery market is already recovering strongly, consumer sentiments this festive season have picked up in a big way. “Compared to the 2020 and 2021 festive seasons, the big public celebrations are back. We are already seeing an increase in consumer spending. This year, the festive season has brought a lot of positivity and cheer, and we are optimistic that this year will be positive for brands from a sales perspective. Moreover, we have witnessed a demand for real diamond jewellery among consumers during the festive time and we at Kisna are geared up to cater to the evolving trends and consumers’ preferences,” she added.


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