{"id":23294,"date":"2023-10-19T14:06:54","date_gmt":"2023-10-19T08:36:54","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=23294"},"modified":"2023-10-19T14:38:28","modified_gmt":"2023-10-19T09:08:28","slug":"in-q2-2023-india-tops-in-the-platinum-jewellery-sales-showcasing-a-remarkable-surge-in-growth-pjbr","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/in-q2-2023-india-tops-in-the-platinum-jewellery-sales-showcasing-a-remarkable-surge-in-growth-pjbr\/","title":{"rendered":"In Q2 2023, India Tops In The Platinum Jewellery Sales, Showcasing A Remarkable Surge In Growth: PJBR"},"content":{"rendered":"

India emerges as the standout leader, boasting double-digit year-over-year retail sales growth among the world’s top four platinum jewellery markets.<\/em><\/p>\n

India has come out on top in Q2 as the strongest performer with double-digit year-over-year retail sales growth among the top four global platinum jewellery markets, while Japanese and American platinum jewellery shoppers have demonstrated some resilience, according to the Q2 2023 Platinum Jewellery Business Review (PJBR).<\/p>\n

\u201cPGI remains committed to its mission of enhancing platinum\u2019s appeal and driving sales growth for our valued partners,\u201d said\u00a0Huw Daniel,\u00a0CEO\u00a0of\u00a0PGI.\u00a0\u201cThe positive results achieved in multiple markets validate the success of our strategic programmes and have solidified platinum\u2019s position as a key value generator in the evolving landscape of the jewellery market.\u201d<\/p>\n

\"\"
Men of Platinum 2023 Collection (India)<\/figcaption><\/figure>\n

India<\/strong>: Bridal and festive campaigns alongside retail activations drove platinum sales<\/em> \u2013 Platinum \u00a0jewellery experienced substantial growth compared with the same quarter of 2022, driven by a strong bridal season, the Akshaya Tritiya festival season and the effectiveness of retail activation programmes. PGI\u2019s strategic partners reported an average growth of 23% YoY in platinum jewellery retail sales, attributed to the impactful campaigns for Platinum Love Bands and Platinum Evara; a successful Platinum Seasons of Love retail push; and the effectiveness of PGI\u2019s training programmes, which have facilitated higher conversions and active upselling from the gold and diamond sections.<\/p>\n

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Platinum Woman 2023 Collection (Japan)<\/figcaption><\/figure>\n

Japan:<\/strong> Kihei jewellery and men\u2019s pieces spurred a steady platinum growth streak<\/em> \u2013 Jewellery sales have demonstrated a consistent recovery overall in Japan, boasting nine consecutive quarters of growth. Platinum jewellery sales also enjoyed an increase of 1.2% YoY in Q2 2023. Notably, Kihei platinum jewellery exhibited the strongest growth, followed closely by men\u2019s jewellery. The Platinum Woman branded collection targeted at younger generations of female consumers continued to enjoy double-digit growth in Q2 partner sales.<\/p>\n

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Platinum Born 2023 Collection (USA)<\/figcaption><\/figure>\n

United States:<\/strong> Sales softened from high growth in the same period last year<\/em> \u2013 While most PGI business partners reported lower sales in the platinum jewellery sector in Q2 2023, the 10% average dip is tempered by year-over-year comparisons to the double-digit increases recorded in Q2 2022. PGI continued its efforts to solidify platinum\u2019s position in the US market through initiatives such as the Couture Spotlight programme and platinum-focused education and retail training, emphasising its commitment to promoting platinum\u2019s appeal in this market and driving sales.<\/p>\n

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Pt Moment 2023 Collection (China)<\/figcaption><\/figure>\n

China<\/strong>: Retail sales suffered amid economic slowdown and consumer caution<\/em> \u2013 After a promising start to 2023, pick-up momentum for China\u2019s jewellery market was hindered in Q2 by weak consumption power as well as soaring gold prices.\u00a0Amidst this challenging market situation, retail performance in the platinum sector by PGI partners fell by 17% YoY. Despite weaker sentiment, PGI actively engaged with its partners through promotions and events to drive platinum sales during key shopping occasions. For example, the Booster 2023 sales activation in Liaoning and Guangdong in May drew participation by almost 1,500 doors from 37 retail brands.\u00a0PGI also co-hosted a \u2018Love Day Promotion\u2019 during the 20 May festival, covering 33 stores of a large chain retailer that achieved a sales value growth rate of 120% during the promotion period.<\/p>\n","protected":false},"excerpt":{"rendered":"

India emerges as the standout leader, boasting double-digit year-over-year retail sales growth among the world’s top four platinum jewellery markets. India has come out on top in Q2 as the strongest performer with double-digit year-over-year retail sales growth among the top four global platinum jewellery markets, while Japanese and American platinum jewellery shoppers have demonstrated…<\/p>\n","protected":false},"author":7,"featured_media":23304,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,101],"tags":[],"thb-sponsors":[],"class_list":["post-23294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-focus","category-platinum"],"acf":[],"yoast_head":"\nIn Q2 2023, India Tops In The Platinum Jewellery Sales, Showcasing A Remarkable Surge In Growth: PJBR - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/in-q2-2023-india-tops-in-the-platinum-jewellery-sales-showcasing-a-remarkable-surge-in-growth-pjbr\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"In Q2 2023, India Tops In The Platinum Jewellery Sales, Showcasing A Remarkable Surge In Growth: PJBR - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"India emerges as the standout leader, boasting double-digit year-over-year retail sales growth among the world’s top four platinum jewellery markets. 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