Jewellery Chain Stores Market Share In India Expected To Surpass 40% In 5 Years, Says WGC

29 Sep 2022 , 02:24 PM

The gold industry is integral to the Indian economy, contributing 1.3% to Indian GDP. But it is still fragmented – dominated by small and medium-sized enterprises. However, the advent of chain stores in the last 10-15 years and their gradual gain of market share at the expense of stand-alone retailers has been notable, according to a report by the World Gold Council. And this market share continues to increase up 5% since 2016 and representing a 35% share of the market by 2021. Looking ahead, national and regional chain stores will continue to gain market share because of their access to credit and the large inventory they are able to carry. Chain stores are therefore shifting their focus to Tier 2 and Tier 3 cities, where there remains aspirational consumer demand ready to be tapped. Metals Focus estimates that over the next five years or so chain stores will continue to expand and their market share will surpass 40%. Powered by Commodity Insights