Fashionable Wealth Choices
New Delhi
Indian consumers are increasingly viewing jewellery as a key part of long term wealth creation, according to a new report released on Wednesday. About 86 percent of people surveyed said gold and jewellery remain a preferred asset, almost matching interest in market linked products such as mutual funds and stocks.
The Deloitte India report said the jewellery market is changing, with buyers seeing ornaments not only as family heirlooms but also as daily expressions of identity, lifestyle and value. Around 56 percent of consumers now see jewellery as both an investment and a fashion choice, while 28 percent buy it purely for investment purposes.
Older buyers and men continue to favour investment driven purchases, but younger Indians are pushing a shift towards lighter, versatile designs. Gen Z and millennials are actively diversifying their jewellery choices and adopting everyday wear. The report found that 51 percent of Gen Z prefer silver and 34 percent choose platinum. Nearly half the respondents favour minimalist pieces over heavy sets.
Changing buying occasions are also reshaping demand. Millennials now buy jewellery for birthdays, anniversaries and career milestones like promotions and graduations. Personal purchases such as rings, chains and earrings are rising, while physical stores continue to play a major role due to trust and assurance. Experts say retailers who balance tradition with modern design and efficiency will lead the industry’s next growth phase in India over the coming decade, as jewellery remains both a cultural symbol and a practical wealth asset for millions of households nationwide today steadily evolving with younger buyers driving change.