The pandemic has rearranged most sectors and industries across the world. Several businesses have made short-term and long-term changes that t in with the new normal even as they pave a new way of reaching out to consumers while keeping a close watch on their bottom lines. The jewellery sector in India too has seen its share of ups and downs in the last 12 months and is finally making a great comeback post the lockdown by riding the wave of a new way of life.
After being locked in for months during the lockdown, the consumer buying behaviour changed considerably. Buyers were drawn to buying things that are real, valuable, long-lasting and also define a deep meaning or commitment for them. In jewellery too, we now see consumers making informed decisions about the real and natural valuable pieces vis-a-vis jewellery that is artificial and meaningless. They are increasingly investing in fewer but better things than in items that may look fashionable but might not last. There will be a continued demand for classic diamond jewellery pieces with the desire for quality and lasting value expected to continue, a recent survey was done by the De Beers group found.
Change in Demands
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