The love for jewellery, especially gold is not a new thing for the Indian consumer. The fascination for gold is centuries old and with time it has been an integrated part of the retail and Indian economy. It is considered one of the most precious metals, and its value has been used as the standard for many currencies, through history, across the world. This is what we refer to as the gold standard.
Gold has come to stand for purity, value, and royalty. And roles that combine all these properties are distinctively symbolized by gold. With its universal value and stature, gold is often regarded as the best investment for common people. Gold is, and will always be at the top of the pyramid, and therefore India’s appetite for jewellery is totally considerable.
Be it COVID or pre-COVID, change is the only constant and gold being an essential part of the retail is not untouched from it. The year 2020, the pandemic succeeded in changing the face of every single industry and including gold and jewellery. However, the change was far from unpleasant. As far as this industry was concerned, this heralded the beginning of a new era. An era which is more customer-centric and user-friendly. Through these challenging months, gold has reaffirmed people’s faith in its value as a long-term investment and as security for hard times. There are changes for good that are redefining the future of the jewellery industry.
Meanwhile, the structure of the gold market is facing an unprecedented wave of change resulting from evolving gold demand patterns, regulatory changes, new types of participants and even newer innovations. The response of individual gold market centres to these opportunities and potential threats is what will shape the gold trading landscape over the next decade and beyond.
The Digital Storm
Traditionally, buying gold jewellery was always an elaborate affair. It entailed physical visits to the jewellery stores or jewellers coming home, followed by hours of selection and testing. The choices were deliberated on, various retailers were approached, and the jewellery was then worn to check for comfort, intricacies, weight, quality, and more. Shopping for gold jewellery was an occasion in itself. But, not anymore, traditionally Indians have shopped for jewellery in small, brick-and-mortar stores but the trend is changing. This is majorly due to the twin forces of rising consumer incomes and the development of e-commerce in this market.
With the emerging trends of lightweight jewellery, gold has also redefined itself to suit the aesthetics of today. The demand for wearable gold jewellery has sky-rocketed and this precious metal is no longer only associated with traditional heritage pieces. With the advent of online shopping, the new-age consumer also prefers a seamless, convenient, and easy retail experience. People are starting to make high-priced purchases online much more than they were even a few years ago. With sleek and simple designs, there is no need for physical visits to find the perfect piece. An increasing number of consumers find it more accessible to buy jewellery online and are completely willing to take the chance. In fact, it is predicted that heavy jewellery will soon be replaced with lightweight elegant options for almost every occasion, including weddings.
Flower Power Returns
The floral trend has made a huge comeback in fashion and is a hot favourite in gold jewellery as well. From delicate floral earrings, pendants and rings for everyday ensembles to elaborate floral naths, maang tikaas and kamar-bandhs, the flower motif is everywhere you look. The best thing about floral designs is that they are versatile enough to be paired with any outfit. They can add a touch of femininity to power dressing or celebrate the intricacies of Indian craftsmanship in bridal trousseaus. The designs range from bold and beautiful to fragile and petite.
Another trend to note amongst floral gold jewellery is the diversity of pairings. The metal base itself varies between yellow gold, white gold and the eternally elegant rose gold. And these are beautifully offset by an array of precious stones, pearls, crystals and diamonds. Leading jewellery brands are also redefining the traditional floral motif, with over-sized petals, tropical hues and abstract designs. This has made floral jewellery the new favourite for brides across the country.
In fact, floral gold jewellery this season is leaving people spoilt for choice.
As women’s power dressing takes on new forms and designs across the board, jewellery is also effortlessly keeping pace with new and eye-catching trends. Geometric jewellery with sharp edges and avant-garde styles is making waves across the industry.
One of the biggest inspirations for these designs is Indian architecture. Elaborate geometric lattices, beautiful pillars, elegant jarokhas – the shapes and angles from iconic monuments are finding a new manifestation in the geometric trend. Gold jewellery is also using rough-hewn precious stones and pastel bases to create a more distinctive look.
The true beauty of geometric gold jewellery lies in both imagination and craft. A few minimal lines defined by negative spaces can transform even a traditional design into a contemporary piece. Leading brands in the industry have used impeccable symmetry, laser-cut techniques, sleek designs and an unusual choice of stones to bring in a whole new perspective on geometric jewellery.
These kinds of designs find their place effortlessly on both occasion wear and everyday wearables. In terms of trends, chunky bold pieces in white gold and minimalist angular designs in rose gold are the current hot favourites. So be it a kundan neckpiece for the bride-to-be or a pair of stone and gold earrings for a boardroom meeting, geometric gold jewellery is making signature statements that can’t be ignored.
In all, the gold and gold jewellery industry is undergoing major changes. Consumers are making gold a part of their must-have pieces more than ever before. Online retail experiences are booming, with big brands taking the lead to ensure a smooth and delightful purchase environment. The trends in gold jewellery design are including the processes of revival as well as reinvention. But even as gold jewellery emerges in many new avatars, the core remains untouched.