Increase in jewellery market propelled by demand for bridal wear

It would be ironic to predict an increase in overall jewellery sales in the US, within the present day recession the country is facing. But, analysts say that driven by the demand in the bridal jewellery category, the market will see some rise in sales during 2008. According to the International Diamond Exchange, the rise would amount to 3 per cent within the US markets, which will see a growth from $64 billion in 2007 to $65.9 billion in 2008.

Platinum Guild International has also predicted the increase in the market share of jewellery based on the demands of bridal jewellery. The industry when calculating the growth is considering a 30 per cent increase in the number of weddings during the next 10 years.

PGI states that designers have increased their range of platinum jewellery in motifs and are also offering increasing number of light-weight jewellery and lower price points for the conservative spenders. A survey undertaken, states that spends on bridal jewellery have been increasing since the recent past by 60 per cent with a bent more towards platinum jewellery.