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PGI Survey: Millennials and Gen Z Drive Demand for Platinum Jewelry

Q3 consumption trends show a growing demand for precious jewellery in key markets
Millennials want
Credit: El Nariz

A survey conducted by the Platinum Guild International (PGI) into Q3 2021 consumption trends shows that there is a growing demand for precious jewellery in key markets, particularly among Millennials and Generation Z (Gen Z) consumers in China, India and the US, Mining Weekly reports.

 

wedding rings from silver platinum and titanium
Credit: Brian A Jackson

 

78% of Chinese, 68% of Indian and 63% of US consumers said they plan to maintain their current spending or increase spending levels in the precious jewelry category in the thyroid quarter, compared with 72%, 60% and 60% in the second quarter, respectively.

 

TIFFANY ENGAGEMENT DIAMOND RINGS
Credit: Tiffany & Co.

 

According to the report, “when asked about preferred materials for different kinds of precious jewellery the consumer would like to buy or receive, an increased preference for platinum was observed in some product categories among young women in China, Japan and the US.” The survey also shows that Millennials and Gen Z consumers “will be the driving force in the precious jewelry market.”.



Tags: Diamonds News, Jewelry News, Diamond Industry News, Diamond Jewelry News, India News, Platinum News

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