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Images Retail – April 2024

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Showcasing the Gems of Jewellery Retail in India

Gold prices have reached a historic high, surging about 17% in the last two months to touch `72,700 per 10 grams. And while this has dampened the demand leading to lacklustre footfall in stores, the industry has grown in value terms in the last year. Credit agency ICRA expects the domestic jewellery retail industry to grow at 10-12% year-onyear in the financial FY2024 on the back of elevated gold prices. This was higher than the earlier estimates of 8-10% growth.

However, jewellery retail in India continues to be dominated by unorganised players with organised players constituting a little more than a third of the market. Having said that, while the organised players are fewer in number in comparison to their organised counterparts, they are making up for in terms of innovations in designs and experience they offer with omnichannel retail, tech-driven features like virtual try-ons and loyalty benefits.

In this issue, we showcase the gems of organised jewellery retail in India—beginning with M P Ahammed of Malabar Gold & Diamonds who embellishes the cover. Also featured inside are Bhima Jewels and PN Gadgil & Sons who are favourites in the regions they dominate.

The issue also has a special feature on lab-grown diamonds, which are threatening to outshine natural diamonds owing to the benefits they offer.

Adorning the cover of the Shopping Centre News Section this issue is Anuj Puri, Chairman and Co-founder of Anarock Retail, one of the country’s leading real estate consultancies. Having been an industry veteran with decades of experience Anuj shares some deep insights on malls and retail real estate in the country.

Phygital’s cover is graced by Krishnan Venkateswaran, Chief Digital & Information Officer (CDIO), Titan Company Ltd. He speaks about how the Bengaluru-based diversified consumer goods subsidiary of the Tata Group is using cutting-edge technology not just for customers but also for improving internal eficiencies.

The issue, as always, is packed with retail intelligence and insights to help you in your business—a build-up to the upcoming Phygital Retail Convention to be held at Jio World Convention Centre on 8-9 May 2024—that will be the mega confluence of all that matters in retail. Happy Reading!