India's Jewellery Market Sees Shift to Value Over Gold Weight
India's ₹7 lakh crore jewellery market is experiencing a significant shift in consumer behavior. Despite gold prices reaching record levels, consumers are not buying less jewellery; instead, they're opting for lighter pieces, lower-carat gold, and studded jewellery that offer more value without the high cost of traditional heavy gold.
The World Gold Council reports that demand fell 15.4% year-on-year in the second quarter of 2026 to 75.1 tonnes, but the value of that demand rose 34.4% to ₹1.13 lakh crore. The first half of the year saw an even starker story: jewellery volumes fell 17.1%, while the value of demand jumped 40% to ₹2.13 lakh crore.
Organised jewellers, such as Titan and Kalyan Jewellers, are benefiting from this change in consumer behavior. Their sales have increased significantly, with average ticket sizes rising in the high double digits. Senco Gold is also seeing a shift towards lighter, design-led products, including a titanium jewellery range for men priced between ₹20,000 and ₹1 lakh.