Rising gold prices reshape jewellery buying trends for the season

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Rising gold prices drive demand for lightweight jewellery, flexible savings schemes and traditional designs in the city

Chandigarh, September 13

Rising gold prices and changing consumer preferences are prompting jewellery retailers  to introduce flexible savings plans, lightweight designs and versatile traditional pieces. During visits to Limelight, ORRA and Mohrani Jewellers in Mohali, store representatives outlined instalment schemes introduced for the customers and showcased their  festive collections aimed at making jewellery purchases more accessible to the festive and wedding shoppers while catering to younger buyers and customers seeking practical luxury.

Talking to The North News, Ajay Dhawan, store manager at Limelight, Mohali explained the structure of the ‘Born to Shine’ instalment programme, under which customers make 10 instalments and receive a bonus equivalent to 117 percent of the initial instalment amount upon maturity. The minimum deposit is Rs 2,500, and customers can deposit higher amounts without a stated maximum limit. The store representative said instalment-based purchasing programmes are intended to encourage customers to plan their purchases through structured payments and bonus incentives.

Talking about the trends for the season, Dhawan said, “Classic rings are starting at Rs 30,000, besides which we have a new ‘Navarambh collection’ for this festive season, featuring a pendant and ring valued at Rs 8 lakh, a multi-coloured stone necklace with cluster diamonds priced at Rs 4 lakh, and a cocktail ring.”

At ORRA’s Mohali outlet, staff executive Sonam Saini and sales executive Manjeet Singh introduced their ‘Reflection collection’ for the season, “Our festive collection features 14 karat rose gold designs. The collection includes rings, earrings, bracelets and necklaces, with prices starting at Rs 30,000 going upto Rs 35,000,” said Saini. Their selected pieces are priced up to Rs 1.10 lakh.

According to Saini, rising gold prices have affected customer footfall and their purchasing decisions, particularly for heavy traditional gold jewellery. The retailer is responding by expanding its 14 karat range and introducing new 9 karat options. The ‘Reflection collection’ features lightweight and minimal styles aiming to tap into the Gen Z customers and young working professionals aged between 20 to 35.

The collection reflects at a broader shift towards everyday jewellery preferences, with customers seeking designs that combine modern styling with affordability. Retailers are also facing competition from alternatives such as lab grown diamonds and silver jewellery.

ORRA representatives further outlined three instalment and savings plans. Under the ‘Promise One’ plan customers make monthly payments over 10 months. A monthly deposit of Rs 5,000 totals Rs 50,000, after which the company adds one full monthly instalment, taking the redeemable value to Rs 55,000. Minimum monthly deposits start at Rs 3,000 for in store registrations and Rs 2,000 through the company’s mobile application.

The ‘Aura Promise Circle’ is a 30 member group scheme with monthly payments starting at Rs 6,000 over 10 months. A customer contributing Rs 60,000 receives an additional instalment or Rs 9,000, taking the purchasing value to Rs 69,000. The scheme also includes 10 scheduled lucky draws with benefits ranging from Rs 30,000 to Rs 6,000. Standard store discounts do not apply to this plan.

Under the ‘Golden Promise’ gold booking scheme, customers can deposit a fixed amount each month, with the equivalent gold weight calculated using the prevailing 24 karat gold rate at the time of payment. After 10 months, the accumulated gold weight can be redeemed in the 11th month, along with a 12.5 percent company bonus on the total investment. For example, a total contribution of Rs 1 lakh would attract a bonus of Rs 12,500.

At Mohrani Jewellers in Phse 3B2, Mohali,  owner Baljinder Singh Khurmi, along with senior manager Vinod Kumar and senior sales executive Kiranjeet Kaur, introduced their ‘Raani Haar Collection’ priced at Rs 11,85,000. The store also showcased an antique-styled, gold temple jewellery set valued at approximately Rs 8 lakh unveiled specially for the festive season.

The set features a detachable centre unit that allows it to be worn as a heavy necklace or as an independent pendant set. Store representatives said such designs are gaining attention among customers looking for traditional craftsmanship with greater versatility.

The store also outlined the ‘Smart Gullak Plan’ which is a 11 month savings scheme offering gold rate averaging, zero making charges also featuring lucky draw incentives. Customers can choose monthly investment slabs of  Rs 3,000, Rs 5,000, Rs 10,000, Rs 15,000 or Rs 20,000.

Under the 11 plus 1 structure, customers contribute for 11 months and receive an additional month’s instalment from the retailer. A customer investing Rs 10,000 per month contributes  a total of Rs 1.10 lakh, with the store adding Rs 10,000 to bring the total redemption value to Rs 1.20 lakh.

The scheme also includes a rate booking feature for payments made between the 1st and 15th of each month. The gold rate on the payment date is used to calculate the equivalent gold weight, which is accumulated over the term. Customers can redeem the accumulated savings against gold, silver, or diamond purchases without making charges on the final jewellery items.

Lucky draws begin after the third month. Winners receive a 2X value voucher, effectively doubling the monthly instalment addition for the applicable tier.

Representatives of Navkkar Jewellers in Sector 34 and P.P. Jewellers in Sector 22 said gold prices have not affected their customer buying patterns, with both outlets reporting continued demand for gold.

The representatives said customers are still purchasing gold despite the rise in prices, indicating that demand remains steady at their outlets.

The comments offer a contrasting view of the changing jewellery market, trends  where some retailers have reported shifts towards lightweight designs and more affordable options while others report continuous festive and wedding season buying patterns, carrying forward the jewellery buying trends from the last season.

The various schemes and new festive collections showcased in various city markets indicate how jewellery retailers are adapting to changing consumer buying power by combining structured savings plans, bonus incentives and versatile designs.  City based jewellery retailers are making jewellery purchases more accessible while maintaining that demand for traditional and contemporary collections in the jewellery shopping for the season remains at an all time high .