(PRESS RELEASE) HONG KONG – Platinum Guild International has published the Q2 Platinum Jewellery Business Review of the platinum jewelry market around the world. Upon close evaluation of the performance of the platinum jewelry market during the second quarter, key findings reveal that the more mature U.S. market continues to see positive growth to support an expansion of platinum offerings, and India’s sales for platinum jewelry are steadily increasing despite being a young market.
“As the second biggest use of platinum, the jewelry market is critical to the future success of the platinum industry. The Platinum Jewellery Business Review reports provide an analaysis and full look at the key markets to determine the effectiveness of marketing campaigns and the future growth opportunity,” says PGI CEO Huw Daniel.
In the U.S., more retailers have been increasing or are planning to increase their platinum jewelry offering on the back of lower metal prices and recent marketing initiatives. Combined with a robust economic market and recent tax cuts, PGI’s trade partners are reporting 9 percent growth in platinum ounce consumption in Q2.
India’s platinum jewelry sales continues to outpace gold and diamonds sales and register the highest growth (26 percent) of the platinum jewelry demand in the key markets. This is largely attributed to collaborative trade initiatives, and distinctive branding and marketing with a growing appeal to a higher income urban youth.
A critical market for platinum jewelry, China’s sentiment was improved for platinum jewelry retail and manufacturing in the second quarter led in large part by new product launches and overhauled consumer initiatives.
As the second largest platinum jewelry market, the outlook for Japan’s platinum sales remains stable with continued growth in the non-bridal jewelry segment.
For more information, graphs and charts, download the whole Platinum Jewellery Business Review for Q2 2018 here: www.platinumguild.com
The report shows that specific branding and marketing initiatives are effectively driving
a new generation of platinum jewellery consumers into stores.