Worldwide marketing organisation Platinum Guild International’s (PGI’s) Insight August 2020 report indicates that, during the Covid-19 pandemic, affluent buyers have been less reluctant to decrease jewellery buying and that regions most impacted by Covid-19 have despondent views on buying jewellery.
The PGI states that while the long-term effects of the ongoing Covid-19 crisis on the precious metal jewellery industry will depend on a number of factors, it is possible to envisage three overall scenarios – a fast and conclusive V-shaped recovery, a slower but conclusive U-shaped recovery and a slow, unsteady L-shaped recovery.