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The Platinum Jewellery Business Review (PJBR), commissioned by the Platinum Guild International (PGI), has reported platinum sales have been “instrumental” in the jewellery market’s recovery.
According to the PJBR, sales surged across key markets over the holiday season, including in China, India, Japan and the US.
In the States, platinum sales registered a 14% year-on-year growth in the fourth quarter of 2020, besting diamond and bridal jewellery.
A PGI survey in China revealed that 72% of retailers experienced better margins with branded platinum collections and premium platinum products in Q4.
Furthermore, the trade body’s retail partners in India reported 25% year-on-year growth in platinum sales towards the end of 2020.
Huw Daniel, CEO of PGI, said: “The latest quarterly PJBR shows that platinum has played a leading role in the jewellery market’s recovery.
“Retailers and manufacturers have prioritised platinum in their merchandising selections, driven both by favourable metal pricing and a new generation of products better suited to today’s consumers, who more than ever are seeking jewellery of meaning for both gifting and self-purchase.”
He added: “The latest research indicates strong consumer appetite for fine jewellery purchases in 2021 which bodes well for continued growth into 2021.”
