In today’s India there has been a sudden rise in popularity with regards to what is known as fashion jewellery or imitation jewellery. In fact, they have become the new toast of the creative Indian jewellery market. Additionally, it has also found a healthy customer base in other markets around the globe as well. Now, you might wonder as to ‘why’ a phenomenon pertaining to this jewellery has gained popularity so soon, that too in a country wherein traditional gold jewellery has ruled the roost for centuries now. Here is then presenting you a few critical reasons and they are as follows:
a. Change of Customer’s Taste from Traditional to Imitation Jewellery:
We in India have truly entered what can be referred to as the ‘Millennial Age’. What this also means is that unfortunately the buying ability of a consumer now a days has decreased instead of increasing. As a result of which, fashion jewellery has become a real trend with people in this country otherwise obsessed with ‘Gold’. The fact that the young generation no longer is has interested in investing in jewellery as compared to the old has also played a major role. This has arisen simply due to the need for individuals to be different, and follow one’s peers. It is also the fast changing fashion trends that has resulted in this aversion towards any jewellery which is traditional. More importantly, today’s fashionable jewellery can be adorned on any type of dress unlike those precious jewellery thereby making it more popular.
b. The increasing domestic demand for Imitation Jewellery:
It is obvious that ever since India has entered the ‘Age of the Millennial’ that the demand for fashion jewellery has simply grown. Apparently, according to a recent study research conducted by RNCOS, a popular industry research and consultancy firm, the fashion jewellery market in 2014 was supposed to have earned about Rs 8,000 crore. The business supposedly further expanded by an annual growth rate 20% in 2018. As of today, with skyrocketing prices of gold and silver in the country it is obvious that fashion trends with regards to jewellery adorning certainly seems to be shifting towards the innovative like imitation rather than the traditional.
c. The arrival of ‘Digital Age’ has fastened the buying of Imitation Jewellery online: