UAE: Demand for diamond jewellery increases among young consumers as gold continues to shine

While the demand for traditional jewellery still holds good, gold jewellers in Dubai say that preference for diamond jewellery and alternative metals such as platinum, silver, rose gold, and white gold has increased among young consumers.

Gold jewellers in Dubai say that personalised designs are also becoming a vogue among shoppers in the post-pandemic period.

According to Ramesh Kalyanaraman, executive director, Kalyan Jewellers, the younger consumers’ jewellery preferences are consistently evolving, influenced by affordability, minimalism, cultural trends and the growing popularity of all-season jewellery.

“This has led to a notable shift in consumer preferences towards alternative metals such as platinum, silver, rose gold and white gold as well as luxury products such as diamonds studded with emerald, sapphire or ruby,” said Kalyanaraman.

Chirag Vora, director, Bafleh Jewellers, said that 2022 saw a lot of demand for smaller jewellery with different colours of gold such as rose, yellow and white.

“Tricolor or multicolour gold jewellery is in trend now. People also like a dash of Minakari work,” Vora said.

Jewellery sales picked up in 2022 on the back of the recovery in the economy and the massive increase of tourist inflows, as many retailers reported double-digit growth in numbers. They also confirmed that gold jewellery sales reached the pre-pandemic level last year.

John Paul Alukkas, managing director, international operations, Joyalukkas Group, said while the demand for traditional jewellery still holds good, there is a shift in preference for bold patterns, especially from the younger customers.

“There is also a preference for diamond jewellery in addition to jewellery with precious stones. Personalised designs are also becoming a vogue. Fine jewellery and fashion jewellery will be the preference in the coming years,” added Alukkas.

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