FOCUS 焦点 10 | JNA January/February 2024 Coming from a particularly challenging year, the jewellery and gemstone industry is poised to witness positive multisectoral developments in 2024 amid ongoing uncertainties. Prices are expected to stabilise while a balanced demand and supply situation could be achieved as consumption levels normalise, or strengthen even, based on more upbeat prospects. Technology and sustainability will continue to influence movements in the fine jewellery segment, with companies increasingly innovating their operations and business practices to meet the market’s evolving preferences. The luxury sector could emerge a winner in the trade. According to jewellers and high-end diamond and gemstone dealers, demand for upper-range designer pieces and investment items will likely remain unabated, thanks to affluent buyers with high disposable incomes. Global consultancy firm McKinsey & Co reaffirmed this observation. In its State of Fashion 2024 report, McKinsey said consumers’ discretionary spend will likely be intended for trusted brands and categories. Hard luxury goods, jewellery included, will benefit from this as buyers recognise their potential investment value during challenging times. The market’s growing inclination towards colour and vivacity in their jewellery pieces, meanwhile, is expected to bode well for the coloured gemstone industry. Colours are believed to infuse sparkle and inspiration in people’s lives in the face of geopolitical and macroeconomic instability. Buyers are likely to zero in on gemstones bearing warm and radiant tones of peach, with the Pantone Color Institute naming “Peach Fuzz” as 2024 colour of the year. A warm shade that emanates compassion, kindness and unity, and subdued elegance, Peach Fuzz also imparts a message of | JNA team with reports from Richa Goyal and Julius Zheng 郑嵘 | Industry stakeholders adopt a more positive outlook in 2024, citing sparkling business prospects as demand strengthens and prices stabilise. 行业持份者对 2024年的前景持略为乐观的态度，认为随着需求增长和价格稳定，商业前景将更加光明。 Jewellery trade: Growth and recovery in 2024 珠宝贸易：2024年的增长与复苏
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