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Jewellery trends and influences for changing times India is a pla ce whe re m iracle s a re a n e ve ryda y
occurre nce . Its a pla ce whose cultura l a nd philosophical he ritage is the riche st a nd m ost a ncie nt in the world. India is k no wn fo r a ve ry stable je we lle ry m ark e t, but now the tim e is changing. A ugust Issue

Dhiraj Kumar

India is a place where miracles are an everyday occurrence. Its a place whose cultural and philosophical heritage is the richest and most ancient in the world. India is known for a very stable jewellery market, but now the time is changing. <br/><br/>Most of the gold in India is imported. We have an insatiable appetite for it. Almost all of it is in private hands, widely distributed even into the villages, as compared to many other countries where it is principally held by the C entral banks as an element of their financial role. This is because it remains, in the form of Jewelry, the only form of wealth available to the women of India. Approximately, 1,000 tonnes of gold is consumed annually by our country, this averages to 1 gram of gold per Indian. This is a fantastic situation for a so called developing economy. In a recent presentation by DTC they portrayed 50% of Indians above the marginal line in their demographic status, it implies 50% of Indians can be tapped and they have purchasing capacity to buy lifestyle products. Following are some more salient features of our jewellery trade:<br/> <br/> High quality skills & manufacturing capacity<br/> Biggest consumer of Jewellery<br/> One of the biggest marketing networks worldwide<br/> Diamond / Emerald cutting is synonym to us<br/> Undisputed world leader in handcrafted jewellery<br/> One fifth of total Indian export basket<br/> Industry growing at the rate of 35% since last 10 -12 years<br/> Processes 95% of small diamonds for global consumption<br/> New brands launched almost regularly<br/> C elebrity endorsement a regular feature<br/> Families run businesses are getting rapidly organized to meet with emerging challenges<br/><br/>With this kind of status why we are still viewed on the lowest end of the value chain? <br/><br/>Our trade exports to almost all the countries on regular basis, therefore the information in the chart will help those who wish to export to the countries mentioned.<br/><br/>Those who wants to be different and invest in the process of innovation needs to make giant leap to develop their own product range. They will sell with their own brand equity. For these industries there are few indicators that may help them to design for the coming time. I dont want to call them forecast / trend as to forecast it requires a wholesome intervention to understand the cultural and social interaction mapping and its evaluation. Forecasting is rather a very long process and it has to be market specific. The following information will be more of criteria for industries to further research on in the specific market direction they are dealing with. This information can become the basis for their Design and Marketing team to get focused to investigate and research and accumulate specific information which will be of pertinence to your trade.<br/><br/>First in the row is the shift towards being Bio / Eco friendly. This is the buzz hitting almost all the products; the jewellery industry needs to imbibe this as philosophy in their products and systems. If one movie Blood Diamond can affect the diamond trade from Sierra Leone then we need to be serious about our trade. C onsumer is aware and sensitive, if they know the product is coming from disorganized and polluting industrial activity then they may not buy it. The old ways of doing business are disappearing, they have scant regard for the disorganized kind of work, and they want to be assured that the product has come through the quality procedure and systems. C onsumers want to wear a product and flaunt of being conscious of Ecological and human aspects. They want to be satisfied on this ground and they are willing to pay an extra premium for it.<br/><br/>Second factor of influence will be inference from C ostume jewellery attitude. This is yet another development, now the consumer wants to buy a piece of jewellery that can go well with their garments. They dont want to hang a chunk of jewellery for its gold value; they want their own style and want to be experimental. They dont bother whether the metal fineness is 22K or not, Design decides. They are open to the idea of the use of other non / semi precious materials with gold as far as final design is noble and unique.<br/><br/>Third and most important is the C oncept of Value (from Metal to Design). This attribute is related to the second one, but I want to discuss it separately because the concept of value is redefined in terms of value being perceived as the value addition, design value associated with the product will decide the overall cost. The prime focus will be to incorporate extreme tangents of creativity and newness. Resale value of jewellery is not a factor to be considered anymore while purchasing. Jewellery now is not about investment but about appeal, edge and creativity.<br/><br/>Fourth is yet another direction that jewellery will continue to be the Blend of Aesthetics. East meets west, has been said for years. Now, this time blend of Aesthetics takes a different direction to be technologically savvy design. Different odd end manufacturing techniques will come together to realize unique range of jewellery. The future beholds amalgamation and syncronisation of odd techniques to craft unique pieces of jewellery.<br/><br/>Fifth and final direction is that of influences. This is one very important and big direction. As we are witnessing the world has shrunken to a very small place. Advent of Internet and Dish / C able TV gave birth to rapid transfer of lifestyle and information. C onsumers are exposed to the world culture and lifestyle. There is an awakening and desire to these new realities. We always have applauded what comes from west, whether it is C oke or a pair of Jeans, we accept them as they have always been with us This large hearted attitude will continue and will influence jewellery also Mostly youth and

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with us. This large hearted attitude will continue and will influence jewellery also. Mostly youth and middle age segment will come under this western influence. They will personify the Icons of west and will prefer the products to supplement their newly acquired lifestyle. The jewellery manufacturer needs to update them with world culture. The cultural boundaries from Indian Territory have extended to global reach and they need to be understood by manufacturers and sellers. <br/><br/>I call the future trends are trends of intelligence, consumer is becoming very aware, conscious and intelligent and we need to acknowledge and respect it. This new generation is often more aware about trade practice than us. Those who will be able to serve them well will be rewarded with the acceptance. There needs to be a consciously thought over plan and philosophy by the manufacturers and sellers to understand them and then appropriately tweak their product selling strategies

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