Amazon reports surge in precious jewellery festive season sales, reputed brands make huge gains 

Amazon India’s Amazon Great Indian Festival sale has ignited a new trend in the online jewellery space, reporting an 84% year-on-year increase in hallmarked gold jewellery sales with consumers gravitating towards hallmark-certified gold, premium diamonds, and lab-grown alternatives.  

Mumbai: Amazon India has reported an impressive 84% year-on-year increase in sales of hallmarked gold jewellery, with a remarkable five-fold spike in demand during the first two days of its ongoing Amazon Great Indian Festival (AGIF) sale, which began on September 27. Popular brands such as Malabar Gold and Diamonds, PN Gadgil Jewellers, Joyalukkas, PC Chandra, and KISNA have contributed to this surge. 

Current trends indicate that customers are purchasing fine jewellery starting at Rs 2,000 in the silver category and spending up to Rs 40,000 on gold and diamond pieces. Notably, there has been a growing preference for 14k purity, along with a significant increase in the Rs 18,000 jewellery category, which has grown by 75% year-on-year. 

In line with global trends, Amazon has introduced a range of brands offering lab-grown diamonds at competitive prices, making it the first and only online marketplace to focus on this segment. This festive season, customers can find gold and silver jewellery with lab-grown diamonds starting at prices as low as Rs 2,500 from a diverse selection of over 50,000 styles. 

“This festive season, customers are blending tradition and modernity, with gold and diamond jewellery, including lab-grown diamonds, seeing a five-fold spike in demand,” stated Zeba Khan, Director of Amazon India Fashion and Beauty. The platform has also seen increased interest in gold and silver coins during auspicious occasions like Akshaya Tritiya and Dhanteras, offering a wide range of coins across various price points and weights. 

Amazon boasts more than 500,000 styles in silver, gold, and diamond jewellery, and has recently launched several new brands in this category. There has been significant traction for rings (up 100% year-on-year), neckwear (up 50%), and earrings (up 30%). According to a study by the World Gold Council in 2021, 45% of gold jewellery sold in India is classified as ‘daily wear,’ with average prices ranging from Rs 5,000 to Rs 50,000. Bridal wear accounts for 55% of the segment, and daily wear jewellery is particularly favored by women aged 18 to 35, with 67% of Indian women in this age group. This demographic is increasingly open to online purchases, with nearly 53% reporting they bought jewellery online at least once in the past year. 

Khan noted that sales of smartwatches surged tenfold, while premium watches grew six-fold, indicating a strong interest in premium lifestyle products. “These trends highlight our customers’ growing demand for premium, high-quality products. As we approach Dussehra and Dhanteras, we expect this momentum to continue,” Khan added. 
 
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