Changing consumer trends
With over 40 years of experience in developing the platinum jewellery market, PGI is already tapping into changing consumer trends which have been accelerated by the pandemic, such as the increased importance of maximising digital channels, not only to facilitate online sales, but also to reinforce narratives that reflect the meaning behind the purchase of a piece of platinum jewellery.
In the critical China market, signs of a bounce-back are already underway. China’s jewellery sector saw strong recovery in the second quarter compared to the first, with platinum jewellery fabrication increasing slightly by 1 per cent, or 2 koz, year-on-year, thanks to new product launches and promotions. Demand in the second half of the year is expected to be similar to 2019 levels. The relatively low platinum price, made more attractive by recent strong gains in the price of gold, is also aiding recovery in China, allowing platinum to regain some market share from other jewellery segments, including the pure gold and gold alloy or ‘K-gold’ segments.