Platinum Guild reports PJBR Q2 2020
Recently Platinum Guild International (PGI) reported Platinum Jewellery Business Review (PJBR) for the 2Q 2020. The report says China’s GDP grew in Q2 showing an impressive post COVID-19 recovery. The decline of jewellery sales eased after lockdown measures were lifted in most cities. Platinum fabrication returned to positive growth in Q2, thanks to new product launches, promotions and PGI’s Reboot against a backdrop of positive metal pricing. India’s store traffic and consumer demand dropped significantly as the majority of the jewellery business was closed. Once business resumes, platinum jewellery is likely to benefit from retailers’ focus on high margin categories and a conversion of gold customers to optimise return. COVID-19’s economic impact is severe in Japan, but the government's cash hand-outs and an easing of the State of Emergency in late May supported a consumption recovery in June. Jewellery sales were dismal; however platinum was still performing...