Thai jewellery trade eyes India with new range
WFH changing consumer preferences seek jewellery and accessories that highlight the upper half of the body visible
Trade promotion executives from Thailand said the COVID-19-induced Work From Home (WFH) culture has heralded a change in consumer behaviour, and are accordingly planning a new range of jewellery designs to cater to the demand.
Thailand, the world’s third-largest exporter of silver jewellery and colour stones, following the U.S. and Hong Kong, has announced to organise the Bangkok Gems & Jewelry Fair (BGJF), to be conducted time virtually during June 22-24, 2021, with a view to targeting to bagging large orders from the Indian market.
Thai officials said consumer appetite for jewellery and accessories, which had been dampened by the COVID-19 pandemic, had begun to increase.
“With WFH, consumer behaviour has changed to embrace jewellery and accessories that highlight the upper half of the body visible on Zoom, MS Teams and Google Meets,” said a spokesperson for Thailand’s Department of International Trade Promotion (DITP).
In Spring 2021, consumers are trying out eye-catching innovative designs in all shapes and sizes in terms of necklaces, chokers, pendants and earrings,” said a spokesperson for Thailand’s Department of International Trade Promotion (DITP).
Since consumers were not able to go out during lockdowns, black is used sparingly while whites are in, the official said.
“So while minimalist diamonds, white gold, platinum and silver are gaining credence in the active age groups (35-45) working from home, millennials and Gen Z are rooting for bling and bright colours such as emerald, pop and neon. Amidst COVID-19, green colour, which symbolises nature and life, is becoming hot favourite,” the spokesperson added.
Thailand’s pre-COVID imports of gem and jewellery from India stood at $300 million while exports were about $600-700 million.
One of Thailand’s main export markets is still India, with an export value of $143.97 million from January-March 2021, DITP data showed.
Apart from silver jewellery and accessories, India is the third-largest buyer of Thai-colored gemstones due to their ‘fine craftsmanship, competitive price and excellent quality’, according to Thai Silver Exporters’ Association.
In the recent years, Thai silver jewellery had gained popularity as it was more affordable compared to other metals such as gold and platinum, they said.
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