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The assertion is supported by Australia Post knowledge, which reveals on-line retailing has elevated by 80 per cent during the pandemic, with more than 200,000 consumers purchasing online for the first time in April. The Gem & Jewellery Export Promotion Council has facilitated India’s first jewelry exports through courier mode from Mumbai. Vipul Shah, Chairman of GJEPC, highlighted that enabling exports via courier mode will open doorways to new markets and increase the value-added exports from the sector. This move has the potential to minimize back prices by as much as 70% in comparability with cargo mode and facilitate the entry of jewellery companies into e-commerce. European jewelry consumption gained 4% to 71t in 2022, nearly recovering to pre-pandemic ranges. Q4 demand slipped 5% y-o-y to 31t, bringing to an finish the preceding six quarters of growth.

• This is mirrored within the energy of plain gold jewellery pieces, while diamond jewelry demand remained weak.
• Cheng additionally highlighted the company’s “dual-force strategy” for business enlargement, opening an extra 1,361 shops in China.
• Investment motives constitute one other key driver of Q3’s jewellery demand power as shoppers seek worth preservation in gold products amid COVID-related uncertainties and the quickly depreciating native foreign