Retail Jeweller India Forum 2024: Retailers open to try new tech with a positive outlook for the upcoming year

From the influence of digital platforms to the talks on gemstone innovations and marketing discussions, retailers seem to be more accepting towards the changing trends in the jewellery industry

MUMBAI: The 10th edition of Retail Jeweller India Forum 2024, hosted at JW Marriott, Sahar in Mumbai on January 3, 2024, brought together a diverse group of industry professionals. The event, supported by presenting partner Synergics and De Beers Forevermark, along with associate partners Achal Jewels, Fiona Diamonds, Nitin Jewellers, and Pragya Jewels, served as a very good platform for retailers to share their perspectives and insights on their learnings and takeaways from the forum.

Known retailers from all over India were present at the forum. Chahat Shah, CMO, Kalamandir, Gujarat; Vinod Hayagriv, MD & Director, C. Krishniah Chetty Group, Bangalore; Vastupal Ranka, Director, Ranka Jewellers; Surbhi Shekhar, Marketing Manager, Manohar Lal Jewellers; Darpan Anand, Owner, Punjab Jewellers, Indore; Karan Saraf, MD, Onkar Singh And Sons Jewellers; and AVR Sree Smaran, Director, AVR Swarnamahal Jewellers, are to name a few. 

Retailers expressed appreciation for the comprehensive showcase of service providers, showing offerings that were previously unknown. The open exchange of insights among retailers was noted as a positive aspect, contributing to a collective learning experience. Panel discussions, particularly those featuring industry leaders, showed critical business insights, entrepreneurial journeys, and strategies for success. These discussions were regarded as eye-opening, providing valuable takeaways for the attendees.

Several common themes emerged from the feedback. The potential within India’s jewellery market, particularly in untapped smaller cities, was recognized. A significant market of young individuals expressing interest in jewellery investment was acknowledged. Industry professionals indicated an optimistic outlook for 2024, citing positive economic indicators, including the country’s recession-proof status, an upcoming election year, and the increasing per capita income.

The Retail Jeweller India Forum 2024 provided valuable insights into the growth of digital platforms, the shift from offline to online retail, and the emergence of omnichannel strategies were also highlighted. Discussions on industry-specific topics, such as the incorporation of gemstones into jewellery, the challenges posed by lab-grown diamonds, and the exploration of new materials and technologies, were particularly well-received.

Written by Maithili Patange

Retail Jeweller India Exclusive