Its that time of the year when you cannot help but start crystal-ball gazing into the future. What lies ahead for you and me in 2008.
This post isn't about gold lovers only but also for all the jewellery retailers. Because businesses cannot ignore the strong winds of change in 2008
1) Hallmarking as the new force du jour: The fact most jewellers have to contend with going in 2008. We can tell from our personal experience as we see increasing footfalls asking hallmark jewellery. Consumers have started seeing the value hallmarking provides. Another bolt from the blue for the non-complying jeweller has been govt's mandatory hallmark from 2008 verdict.
2) Big Retailers at the doorstep: The organized or branded retailing is still a small fraction of the entire jewellery market in India. And this has made big players like Reliance and Rajesh Exports eye this lucrative and promising area. Tata with its Tanishq brand has already gained the faith of a lot of consumers. Reliance with 'Reliance Jewels' and Rajesh Exports with ' Shubh Jewellers' will certainly make their presence felt in 2008.
I have a few posts lined up next which will explore 'Blue Ocean Opportunities in the Jewellery Industry in India.' Keep clued in to this blog.
4) Colour diamonds: Pick up a magazine or visit any good jewellery forum and you can't miss it. Everywhere Color Diamonds are being talked about. Thats why color diamonds though reserved for the Uber rich finds a place in our predictions of 2008. India with its growing list of High Net Worth Individuals(HNWIs) will find quite a few takers. Yellow or Champagne color and pink diamonds are most favored.
5) Fashion Jewellery: Popularly known as Imitation Jewellery. This industry has seen high growth in the last couple of years. Largely fueled by career woman and younsters for both formal and casual occasions. This kind of jewelry has taken off from unorganized street-side vendors to malls and standalone dedicated shops.
6) Polki (Uncut Diamonds): Far removed from the fire that an ideally cut diamond radiates polki looks like glass cut thinly in irregular shapes. But the magic happens when Polki is teamed up with yellow gold. Traditionally used in indian bridal jewellery collections, its steadily finding its way into more casual wear kadas and bangles and delicate necklaces.
7) Custom Designed Jewellery: User generated designs (taking a cue from User generated content of the internet world) are changing the clothes people wear. So will be true for their accessories. Consumers of gold particularly the young generation can now design their own wedding bands, engagement rings and anniversary rings. We are particularly bullish on this one as we have forayed in this direction earlier this year. Trendylicious an online fashion magazine recently covered our offering of Custom Engagement Rings here.
What do you think will sway the businesses and fashionistas in the coming year?
This post isn't about gold lovers only but also for all the jewellery retailers. Because businesses cannot ignore the strong winds of change in 2008
1) Hallmarking as the new force du jour: The fact most jewellers have to contend with going in 2008. We can tell from our personal experience as we see increasing footfalls asking hallmark jewellery. Consumers have started seeing the value hallmarking provides. Another bolt from the blue for the non-complying jeweller has been govt's mandatory hallmark from 2008 verdict.
2) Big Retailers at the doorstep: The organized or branded retailing is still a small fraction of the entire jewellery market in India. And this has made big players like Reliance and Rajesh Exports eye this lucrative and promising area. Tata with its Tanishq brand has already gained the faith of a lot of consumers. Reliance with 'Reliance Jewels' and Rajesh Exports with ' Shubh Jewellers' will certainly make their presence felt in 2008.
I have a few posts lined up next which will explore 'Blue Ocean Opportunities in the Jewellery Industry in India.' Keep clued in to this blog.
3) Marquise shape is the flavor of the year: Noticed the new DeBeers ad which shows an Indian wedding in which the bride shockingly says "You may now kiss the bride". The diamond set worn by the bride is made of Marquise shaped diamonds. Though the diamonds themselves have a regular shape but when put together in a bangle or necklace set they can form very interesting designs.
4) Colour diamonds: Pick up a magazine or visit any good jewellery forum and you can't miss it. Everywhere Color Diamonds are being talked about. Thats why color diamonds though reserved for the Uber rich finds a place in our predictions of 2008. India with its growing list of High Net Worth Individuals(HNWIs) will find quite a few takers. Yellow or Champagne color and pink diamonds are most favored.
5) Fashion Jewellery: Popularly known as Imitation Jewellery. This industry has seen high growth in the last couple of years. Largely fueled by career woman and younsters for both formal and casual occasions. This kind of jewelry has taken off from unorganized street-side vendors to malls and standalone dedicated shops.
6) Polki (Uncut Diamonds): Far removed from the fire that an ideally cut diamond radiates polki looks like glass cut thinly in irregular shapes. But the magic happens when Polki is teamed up with yellow gold. Traditionally used in indian bridal jewellery collections, its steadily finding its way into more casual wear kadas and bangles and delicate necklaces.
7) Custom Designed Jewellery: User generated designs (taking a cue from User generated content of the internet world) are changing the clothes people wear. So will be true for their accessories. Consumers of gold particularly the young generation can now design their own wedding bands, engagement rings and anniversary rings. We are particularly bullish on this one as we have forayed in this direction earlier this year. Trendylicious an online fashion magazine recently covered our offering of Custom Engagement Rings here.
What do you think will sway the businesses and fashionistas in the coming year?
3 comments:
Hey ruchika,
Great blog...great effort...and it was really interesting to know that there is someone in indian jewellery industry who believes in something like internet or maybe if internet and websites are much more common then a blog for sure is not !!
i have no interest in jewellery or as a matter of fact in any accessories and shopping...but u know ur blog had a kind of effect that maybe this morning i m goin to suggest my mom and sis to check out ur store whenva they plan the next jewellery expedition.
btw..i am Ashish..visit my blog to know more...i found ur blog while goin thru BarCampDelhi's list where 'Aditya Gupta' registered his name with this link..
cya sumtime !! :)
HI Ashish,
Nice to hear from you. We love the great platform internet provides and recognizing the huge gap of information consumers need vs available.
Aditya, My Husband is into web2.0 stuff and leaves trails where he goes. I run this store along with my 2 brother-in-laws.
We would love to have your folks at our store. And they will know the difference.
Hi
I'm a regular follower of your blog and first and foremost wanted to commend on your laudable work
:-)
I am an MBA student and as part of my internship , I have to become a ghost shopper and visit different jewellery stores and get a lowdown on their business practices.
Could you please tell me how to buy gold and diamond jewellery and what all parameters to quiz a jeweller on so that he is not able to call my bluff.
Thankx
P.S I'm manu
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