A slump in gold prices in April led to a buying frenzy in India. Gold sales have drastically risen in the last quarter in the country. This points out the fact that, come what may, we will not compromise on our jewellery.
For the jewellery industry today, though, even more precious than diamonds, is the predictive power of big data. While some retailers have yet to embrace the Big Data revolution, others are using the power of algorithms to forecast potential growth.
Improved consumer confidence, lower unemployment and enhanced stock dividends from the fourth quarter of 2012 have combined to leave people ready to start spending on luxury items again, like jewellery.
India possesses world’s most competitive gems and jewellery market due to its low cost of production and availability of skilled labour.