Family jewellers' survival at stake as consumers shift to large brands

Organised chains, which make up half the retail market, are being trusted increasingly for assured resale value of old ornaments, discounts in making charges

The $75 billion jewellery market in India has seen a sharp change in buying behaviour, with consumers shifting from unorganised to organised retail stores. The shift in buying behaviour stems from better resale value of old ornaments and improved transparency in transactions following the implementation of the goods and services tax (GST) in July 2017.

Organised retail chains' voluntarily adoption of mandatory hallmarking of gold ornaments has helped them gain consumers’ trust - a major driver for jewellery purchase - over the past one year. Assured resale value and continuous offer of discounts on making charges have also seen customers