The Q2 Platinum Jewellery Business Review (PJBR), published recently by the Platinum Guild International (PGI), analyses global platinum jewelry market trends in the second quarter of the year. According to IDEX Online, key findings reveal that India and and the US continue to see positive growth in platinum jewelry sales.
India’s platinum jewelry sales “continue to outpace gold and diamonds sales”, showing the highest growth (26%) in platinum jewelry demand among the key markets in Q2. The growth is attributed to collaborative trade initiatives as well as distinctive branding and marketing appealing to a higher income urban youth. In the US, there was a 9% growth in platinum ounce consumption in Q2.
Meanwhile, “China’s sentiment was improved for platinum jewelry retail and manufacturing” in the second quarter, attributed to new product launches and overhauled consumer initiatives. In Japan, the second largest platinum jewelry market, platinum sales “remains stable with continued growth in the non-bridal jewelry segment”.
