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The jewellery sector in India is poised for a stronger festive season this year, with overall sales value projected to increase by 5–7% compared to the same period last year, according to Neil Sonawala, Managing Director of Zen Diamond India.
Speaking to CNBC TV-18, Sonawala said that despite all-time high gold prices, the precious metal continues to appeal as a safe-haven asset.
“In today’s environment of global uncertainty coupled with steady economic growth in India, investment demand for physical gold, particularly bars and coins, remains resilient,” he noted.
Sonawala highlighted that consumer preferences are evolving, particularly in Tier II and Tier III cities, where aspirational demand for branded jewellery is growing.
“We are witnessing a surge in demand for branded diamond jewellery and distinctive, design-led creations, fuelled by rising disposable incomes,” he added.
On trends in buying behaviour, Sonawala observed a shift toward lighter weight jewellery and lower karat options such as 14K, which allow customers to manage costs without compromising on aesthetics.
He emphasised that design is becoming a decisive factor for buyers. “Today’s customers are highly informed and well-travelled; they want jewellery that reflects individuality, is versatile, and offers perceived value beyond weight and price,” he said.
High prices, while reshaping purchasing patterns, are not deterring customers, according to Zen Diamond. Shoppers are opting for multi-purpose gold pieces and stabilised diamond categories. Solitaires and bridal sets, in particular, remain resilient due to their association with milestone occasions.
The outlook for diamond jewellery this festive season is positive. Natural diamonds continue to be highly sought after, especially large solitaires and classic designs, while lab-grown diamonds are gradually attracting younger buyers seeking aspirational designs at more accessible price points.
“For milestone or legacy-driven purchases, natural diamonds remain the preferred choice,” Sonawala added.
To meet festive demand, jewellers are focusing on inventory and marketing strategies that balance affordability and design. In gold, emphasis is on everyday-wear and lower karat options, complemented by gold savings schemes and festive promotions. In the diamond segment, Zen Diamond is prioritising timeless categories such as solitaires and elegant sets, alongside design-led innovation.
Marketing campaigns are centered on storytelling, highlighting design, heritage, and customer experience.
Zen Diamond has also recently expanded its footprint, opening two new stores in Bangalore to cater to rising demand in South India.
Speaking to CNBC TV-18, Sonawala said that despite all-time high gold prices, the precious metal continues to appeal as a safe-haven asset.
“In today’s environment of global uncertainty coupled with steady economic growth in India, investment demand for physical gold, particularly bars and coins, remains resilient,” he noted.
Sonawala highlighted that consumer preferences are evolving, particularly in Tier II and Tier III cities, where aspirational demand for branded jewellery is growing.
“We are witnessing a surge in demand for branded diamond jewellery and distinctive, design-led creations, fuelled by rising disposable incomes,” he added.
On trends in buying behaviour, Sonawala observed a shift toward lighter weight jewellery and lower karat options such as 14K, which allow customers to manage costs without compromising on aesthetics.
He emphasised that design is becoming a decisive factor for buyers. “Today’s customers are highly informed and well-travelled; they want jewellery that reflects individuality, is versatile, and offers perceived value beyond weight and price,” he said.
High prices, while reshaping purchasing patterns, are not deterring customers, according to Zen Diamond. Shoppers are opting for multi-purpose gold pieces and stabilised diamond categories. Solitaires and bridal sets, in particular, remain resilient due to their association with milestone occasions.
The outlook for diamond jewellery this festive season is positive. Natural diamonds continue to be highly sought after, especially large solitaires and classic designs, while lab-grown diamonds are gradually attracting younger buyers seeking aspirational designs at more accessible price points.
“For milestone or legacy-driven purchases, natural diamonds remain the preferred choice,” Sonawala added.
To meet festive demand, jewellers are focusing on inventory and marketing strategies that balance affordability and design. In gold, emphasis is on everyday-wear and lower karat options, complemented by gold savings schemes and festive promotions. In the diamond segment, Zen Diamond is prioritising timeless categories such as solitaires and elegant sets, alongside design-led innovation.
Marketing campaigns are centered on storytelling, highlighting design, heritage, and customer experience.
Zen Diamond has also recently expanded its footprint, opening two new stores in Bangalore to cater to rising demand in South India.
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