With its pristine beaches, rainforests, and backwaters, Kerala is truly a superb creation of nature. But, the southern state of India isn’t only about its natural splendour. Kerala has a rich and diverse culture that complements its beauty in every sense. Weddings are a massive affair here, and stunning jewellery is integral to the festivities.
The state of Kerala is famous for its adoration for gold. However, it has lately started obsessing over diamonds as well. Finding the best diamond jewellery in Kerala isn’t difficult, with many top jewelers competing for the highest diamond sales in the state.
In the year 2013, diamond sales in Kerala touched INR 400 crores, which was 15% higher than the previous year’s sales.
Causes Leading to Growth of Diamond Industry in Kerala
If the rising demands for diamonds are an indication, this shiny gem is surely catching the attention of Keralites. More jewelers are creating stunning designs to lure buyers to their shops and online portals. Businesses are witnessing a spurt in their sales due to several factors. They are:
Value addition is a glowing reason to choose diamond jewellery. Hence, sellers are looking to attract more buyers with a promise to buy-back. Certified diamond jewellery with value for money propositions is an excellent reason to buy precious diamonds.
While diamonds are always considered a choice for upper classes, the trends are changing now. Middle-class buyers are also looking forward to buying beautiful jewellery items like necklaces, rings, bangles, and pendants studded with certified diamonds. In Kerala, the number of NRIs is also increasing. Since the younger generation of these NRIs instigated the diamond sales, the numbers will grow stronger over the next years, as well.
High Purchasing Power
When it comes to buying expensive and exclusive jewellery, people in Kerala are always eager to spend more money. In comparison to other Indian states, Keralites have a higher purchasing power, especially for jewels. Buyers are, in fact, willing to pay as much as INR 5 lakhs to buy the best diamond jewellery in Kerala.
In recent years, people realized the value of diamond jewellery and considered it at par with gold. Also, the young generation of millennial prefers jewellery that’s minimalist and lightweight, unlike traditional gold jewellery. The changing preferences of buyers led to higher sales over the years. The number of traders and outlets selling diamonds is also growing in the state. The urban parts of Kerala and cities like Kochi are leading this change further.
Availability of a Wide Variety
Since diamond sales are on the rise in Kerala, there has been more emphasis on designs lately. Leading producers have a dedicated range of diamond solitaire jewellery, bridal sets, gemstone jewellery, cocktail rings, and pendants to get more buyers. The entire variety at a reliable jewellery store is made from conflict-free diamonds, which is another reason for the growing sales.
Kerala is a market with increasing consumption of diamond jewellery in India. It contributes to nearly 25-30% of total jewellery sales in the state. And it is likely to grow due to the factors stated above.