Advanced Search

Platinum Jewelry Sales Saw Strong 2018

May 27, 2019 7:49 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

Platinum-jewelry demand grew in India and the US in 2018, as younger consumers and male buyers responded strongly to marketing campaigns, Platinum Guild International (PGI) reported.

US sales at PGI’s retail members grew 11% amid strong growth in the bridal category, and the successful use of celebrities in advertising, the trade organization said. Sales for 2019 are expected to increase by 8% to 10%, with growth slowing slightly due to market uncertainty and volatility in light of the US-China trade war.

Sales in India rose 19% at PGI partners, with strong growth in bridal and gifting, and solid self-purchasing, predominantly by younger consumers. Purchases will continue to rise 15% to 20% in 2019, as the number of days considered auspicious for buying jewelry rises, and men’s jewelry gains popularity in the country.

Demand in Japan increased 1% in 2018, lifted by a higher average weight per piece of jewelry sold, which outweighed a decline in the number of pieces purchased. International brands such as Tiffany & Co. saw the largest growth, as young consumers and men responded to influencer and celebrity campaigns. Purchases in China declined 7%, as more consumers of bridal jewelry bought 18-karat gold instead, PGI added.

Image: A platinum and diamond engagement ring. (Cs1791)
Tags: India, PGI, Platinum Guild International, Platinum Jewelry Sales, Rapaport News, US
Similar Articles
Swiss watches 140Swiss Watch Exports Sluggish in May
Jun 17, 2021
Swiss watch exports saw a limited recovery in May as the coronavirus continued to affect activity in several major
Miichael Hill Emma Hill 140Michael Hill Chair Steps Down
Jun 15, 2021
Emma Hill plans to retire from her role as chair of her father’s jewelry chain, Michael Hill,
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.