Platinum Guild International’s (PGI’s) Platinum Jewellery Business Review (PJBR) Q4 2020 reports platinum has been instrumental in leading the overall jewellery industry recovery in 2020 across key markets – China, India, Japan and USA.
The pandemic severely disrupted expected sales performance during 2020, however the industry moved fast to adapt its sales and marketing efforts in each market, PGI noted. Platinum’s uniquely differentiating qualities, potential for higher margins and ability to drive incremental sales and profits allowed it to be a value generator for jewellery retailers and manufacturers eager to reboot their businesses.
Huw Daniel, CEO of PGI, said, “The latest quarterly PJBR shows that platinum has played a leading role in the jewellery market’s recovery. Retailers and manufacturers have prioritised platinum in their merchandising selections, driven both by favourable metal pricing and a new generation of products better suited to today’s consumers, who more than ever are seeking jewellery of meaning for both gifting and self-purchase. The latest research indicates strong consumer appetite for fine jewellery purchases in 2021 which bodes well for continued growth into 2021.”