‘Coloured gemstones, particularly emeralds, are a default choice for the new-age bride’

According to Meghali Gupta, Director, Shri Ram Hari Ram Jewellers, New Delhi, post-COVID, the sale of emeralds has increased by at least 50-60% followed by increase in prices

Customers no longer want to buy simple diamond jewellery; when it comes to design preferences, they want a touch of colour. Coloured gemstones in general, and emeralds in particular, have become very popular in the last two-three years. Post-Covid, the sale of emeralds has increased by at least 50-60%, which is substantial. With the increased demand for emeralds, the prices have also increased.

For us, emeralds are the hottest-selling item in gemstones. One of the primary reasons behind the increase in gemstone demand is that a good-quality gem is as valuable as a diamond. Another reason behind the shift to emeralds is that the price of diamonds has shot up by at least 20% post-Covid.

Coloured gemstone jewellery looks more beautiful, trendy, and is lighter on the pocket than diamond jewellery. For example, modern brides want their sets to be spread out. In this case, if you increase the diamond size or volume, the price will also increase substantially, making it a high-value item that is only affordable for some. Adding colour gemstones, the pieces look more spread out and at the same time is somewhat pocket-friendly.

Emeralds are a default choice for the new-age bride who seeks variety for different occasions; such as polki diamond jewellery for one event, colour gemstone jewellery for another etc.

Additionally, the certification in emeralds also reassures buyers about the value of the gemstones. The market has different qualities of emeralds, including superior, medium, and commercial grade. And lab certification or a third-party certification has played a vital role in assuring the customers about the colour, origin and enhancements.

Another reason behind the increase in the popularity of emeralds is the availability of attractive buyback options from retailers. In today’s time, if you compare the buyback of diamond polki jewellery with precious colour gemstones jewellery, I think the latter offers a better buyback.

“Another reason behind the increase in popularity of emeralds is the availability of attractive buy-back options from retailers”

Meghali Gupta, Director, Shri Ram Hari Ram Jewellers

What has also encouraged the trend is that post the Covid-19 pandemic, most customers were interested in something other than small ticket sizes. The customers were saving a good amount of money to buy big jewellery pieces, which will increase in value in the future and be an investment for them. People have understood that when you buy jewellery, it is good to buy a piece which can fetch a good return in a crisis.

Earlier, many customers avoided the colour gemstone category as they needed clarification on the return on investment. With the growing popularity of buyback value, certification, and the need to expand the jewellery wardrobe, emeralds (and other precious coloured gemstones) are the next big opportunity for the industry.

The Retail Jeweller India