The 2017 Platinum Jewellery Business Review, published by Platinum Guild International (PGI) and quoted by IDEX Online, shows that platinum jewelry has experienced sales growth in the wedding segment for 2017 in China, Japan, the US and India.
In China, platinum bridal acquisition volume has increased by 22% compared to 2014, and platinum “has become the dominant precious metal for wedding rings”, with “consumers strongly associating love with platinum and far ahead of other metals”. Among young consumers in India, the “Platinum Days of Love Campaign” has contributed to platinum becoming “the metal of choice”. In Japan, platinum holds a 92% share of the engagement ring market and 82% share of wedding rings market. In the US, platinum jewelry consumption has grown 11% in 2017. The growth mainly comes from strong sales in bridal jewelry including engagement rings and wedding bands.
PGI CEO Huw Daniel commented: “We saw growth for platinum jewelry with relation to the wedding market in all four of the key markets in 2017. This trend is mostly tied to a strong preference for platinum among younger consumers to express love, together with a robust global economy and historically low platinum prices, indicates growth potential in the platinum jewelry sector in 2018”.
