Jewellery brands ramp up festive AdEx by 20-40%

The year 2025 has already proved to be a landmark for gold, with prices soaring nearly 50% this year and up a staggering 140% since 2022. Gold’s rally is showing no signs of slowing — prices have crossed $4,190 an ounce, while in India, 24K gold trades at ₹12,889 and 18K at ₹9,697 per 10 grams. This unprecedented surge has prompted jewellery brands to not only rethink their campaigns, media spends, and consumer engagement strategies but also double down on their campaigns this festive season.

With the festive season already at its halfway mark, jewellery brands are recalibrating their narratives to keep consumer sentiment buoyant amid soaring gold prices. So far, we have already seen brand storytelling increasingly shifting towards purchase-driven, consumer-centric, hybrid media strategies and investment-led themes, aimed at reassuring buyers and sustaining momentum.

Brands are finding creative ways to keep consumer interest alive. One prime example is Tanishq’s recent campaign featuring Sachin Tendulkar, which encourages consumers to exchange old gold for new pieces.

Diamond brands, too, are using this moment to their advantage and are positioning themselves as affordable and attractive alternatives to gold. Their campaigns highlight affordability, modern design, and aspirational value, tapping into consumers who may be deferring high-value gold purchases.

Meanwhile, silver and gold retailers have also partnered with quick commerce platforms such as Swiggy Instamart, BigBasket and Zepto to sell coins online, offering discounts and speedy delivery.

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According to TAM Media Research, jewellery advertising momentum has only intensified in 2025, with ad volumes for August–September growing 130% over 2023 levels and 93% over 2024. To put this in perspective, the festive period from August to December 2024 saw a 43% increase in TV ad volumes compared to the previous year. More than 90% of jewellery ad volumes during August–December 2023–24 were dominated by Titan Company and Platinum Guild India, highlighting the category’s concentration among a few heavyweight advertisers.

Television remained the primary advertising channel for jewellery brands. Between August and September 2025, Titan Company alone accounted for 69% of jewellery ad volumes on TV. On radio, Harikrishna Group commanded a 70% share, while in print, Titan led with 34%, followed by Harikrishna Group at 25%. On digital, Bluestone dominated with 42%, ahead of Titan’s 39%.

These figures clearly reflect a strategic shift and ramp-up in advertising, rather than any slowdown, as jewellery brands double down ahead of the festive season.

Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers, said, “From the end of the Shraadh period (Sept 22nd) to the days leading up to Dhanteras, we have witnessed strong buying sentiment across our showrooms. Our festive pre-book offer has seen encouraging participation - notably, about 40% of the buyers this season are first-time customers - indicating renewed enthusiasm among shoppers.”

Experts have pointed out that overall advertising activity this festive season has been robust, with leading jewellery brands boosting festive AdEx by 20–40% compared to last year, despite gold price volatility. Festive periods, especially Dhanteras and Diwali, remain peak periods, accounting for nearly half of brand activity. 

“Looking at category trends versus last year, overall annual spends are slightly lower than in 2024, even as festive bursts have grown in intensity and number. Higher gold prices, calibrated order volumes, and a focus on lower-carat products like 14K or 18K gold have helped brands manage cash flow, maintain margins, and reduce risk in a volatile market. ROI-driven and local campaigns have been preferred over broad-based presence, keeping volumes high while slightly correcting overall outlay in line with a data-driven approach,” Shrikant Shenoy, AVP, Lodestar UM.

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Recasting narratives in a high-gold-price festive season

“We’ve increased our spends to match the buoyancy we’re seeing,” said Joita Sen, Director and Head of Marketing & Design at Senco. The brand has launched its Shagun collection, featuring lightweight 9K gold pieces starting under ₹7,000, designed to make gold jewellery more accessible. This year, Senco’s festive strategy includes a multi-pronged media mix across television, print, digital, and influencer marketing to drive both aspiration and footfalls.

It looks like jewellery marketers are responding to the price surge not with caution, but with strategic pivots. Campaigns this year are focussed on affordability cues, old gold exchange, lightweight jewellery launches, and investment-led storytelling.

“To sustain the festive momentum and bolster sales performance, we have planned a 20% overall increase in our advertising and marketing spends,” said John Alukkas, Managing Director, Jos Alukkas Group. “We are seeing consumers shift towards gold coins, diamonds, and lightweight jewellery, and we’re aligning our marketing accordingly.” The brand continues to rely heavily on TV and print in Tamil Nadu and Kerala, while ramping up digital and OOH campaigns in metro markets like Bengaluru and Hyderabad.

Tanishq has also leaned into price sensitivity through clever storytelling. Its recent campaign featuring Sachin Tendulkar, built around the theme of exchanging old gold for new, has struck a chord with consumers looking to upgrade without bearing the full brunt of current prices. 

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Senco has also launched a gold exchange campaign, allowing customers to receive 100% value for their old gold at current rates with zero deduction, making it easier to upgrade to new jewellery amid rising gold prices.

To cater to the high gold prices this Dhanteras, CaratLane too has launched a festive offer on its Instamart platform under the theme “The more you shop, the more free gold you take home,” giving shoppers a 0.2g gold coin on purchases between ₹20,000 and ₹35,000 and more such offers. 

Changing buying patterns

According to several jewellery brands, this festive season, consumer behaviour is reflecting both caution and aspiration. Rising gold prices are nudging buyers toward lightweight, investment-focussed jewellery, as well as alternative options like lab-grown diamonds. “We are seeing a strong surge in consumer interest, with buyers increasingly seeking pieces that balance style, value, and sustainability,” said Pooja Sheth Madhavan, MD & Founder, Limelight Diamonds. The brand has also increased its marketing investments by nearly 40% compared to last year. With gold prices at record highs, the brand is witnessing increased demand for larger diamond jewellery pieces at gold-equivalent budgets, as well as a growing number of first-time diamond buyers choosing lab-grown diamonds, particularly for festive gifting.

Brands like Limelight Diamonds and Raj Diamonds are leveraging the festive period to push lab-grown diamonds and diamond jewellery as attractive alternatives to gold, highlighting affordability and modern design. “With gold prices at record highs, demand for natural diamond-studded jewellery crafted with minimal gold has surged, and we see diamonds becoming a mainstream choice not just for bridal but for everyday wear,” noted Eshwar Surana, MD, Raj Diamonds. 

Adding to this, Kalyanaraman said, within the jewellery category, diamond sets are seeing renewed interest, reflecting a broadening aspiration among consumers. “Bangles and chains, especially those with interesting designs in the plain gold category, continue to be in demand. Apart from that, customers are choosing design-led jewellery sets from within the studded category, underscoring a willingness to spend on differentiated products and reflecting both festive as well as wedding buying trends.”

According to Senco’s Sen, while there have been some shifts in purchase patterns, the festive sentiment has remained strong. “Value-conscious consumers are exploring lightweight designs, mixing gold with diamond and gemstone pieces, and opting for hallmark-certified jewellery with transparent pricing. Many are also rediscovering the investment aspect of gold. What’s reassuring is that gold continues to hold emotional significance — so while the size of the purchase may vary, the intent to buy remains just as strong.”

Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd. and President of India Bullion and Jewellers Association Ltd., and Chairman at Jain International Trade Organisation, shared that this festive season, the brand plans to increase marketing spends by around 15–20%, focussing on Diwali and Dhanteras campaigns. “The emphasis is on creating high-impact visibility through integrated digital and offline promotions to drive festive sentiment and connect emotionally with consumers amid record-high gold prices. Compared to last year, the marketing budget has grown moderately despite rising gold prices.”

Campaign innovations, festive offers, and media strategies

To capitalise on the festive season amid rising gold prices, jewellery brands are deploying a mix of attractive offers, storytelling-led campaigns, and multi-channel media strategies to engage consumers across segments. Limelight Diamonds, for instance, is offering 30% off on diamond value and 100% off on making charges during its Annual Bash, making premium lab-grown diamonds accessible to aspirational buyers. VBJ Since 1900, is offering 20% off making charges and value additions across gold, diamond, platinum, and silver jewellery, alongside additional discounts on select collections, catering to multi-generational buyers.

Senco Gold & Diamonds is targeting first-time buyers and budget-conscious festive shoppers through its 9K gold Shagun collection, priced under ₹7,000, while CaratLane’s Peepal collection offers free gold coins on purchases starting at ₹15,000. 

For new-age brands like Akoirah, the festive season has prompted innovative offers to counter rising gold prices. According to Namita Kothari, Founder of Akoirah by Augmont, the brand has introduced a 21% discount on gold rates for all lab-grown diamond-studded jewellery, valid until October 21.

These deals reflect a broader shift towards affordability, wearable designs, and value-led propositions, tailored to evolving consumer preferences amid high gold prices.

Marketing spends are also evolving in line with changing media consumption patterns. As highlighted by Shradha Agarwal, Co-founder and Global CEO, incremental budgets are flowing primarily to digital, OTT (15% growth), and OOH (5–10%), while TV largely remains flat. This hybrid approach balances mass reach via TV with the targeted engagement of digital, OTT, and performance-led campaigns, particularly for younger and lower-ticket jewellery buyers.

For brands like Limelight, the marketing mix stands at around 30% allocated to digital and social media, 40% to OOH and retail branding, and 10% each to experiential and in-store activations, radio, and PR and collaborations.

According to Shenoy, who handles clients like BHIMA jewellers, “Festive periods remain peak activity windows, with advertising bursts increasing in both intensity and number. Brands are focusing on value, accessibility (9K/14K/18K), and design innovation, with ROI-driven, local campaigns preferred over broad-based approaches.”

Regional strengths: South India’s jewellery market

South India remains the cornerstone of India’s jewellery retail landscape, with brands like Bhima, Jos Alukkas, Malabar Gold & Diamonds, and Kalyan Jewellers enjoying deep-rooted consumer loyalty and repeat purchases. These brands have established a strong presence across states such as Kerala, Tamil Nadu, Karnataka, and Andhra Pradesh, capitalising on regional preferences and cultural significance of gold.

According to Shenoy, South markets dominate in value, brand loyalty, and consumer engagement, with local leaders and top organised chains driving festive advertising momentum. Media strategies are highly region-specific: TV and print remain vital for older and luxury buyers, while hyperlocal OOH, digital, and Instagram campaigns target younger, aspirational audiences.

Adding to this, Devika, director of Mathrubhumi told e4m, “The festive jewellery advertising market this year has remained strong, driven by the continued emotional connect of jewellery with key occasions like Diwali and weddings. Despite the high gold prices, most leading brands have sustained or slightly increased their advertising investments, focussing more on communication that builds aspiration, trust, and long-term brand value.”

The new festive sales channel

Beyond traditional retail, quick commerce platforms are emerging as a significant festive channel for jewellery sales. Retailers are partnering with players like Swiggy Instamart, BigBasket, and Zepto to sell gold and silver coins online, offering fast delivery and attractive discounts to capture demand from urban, time-sensitive shoppers. Brands are experimenting with flash sales, limited-time offers, and app-led campaigns, blending speed, affordability, and aspirational storytelling to engage the digital-savvy festive buyer.

A notable development in this space is Instamart's collaboration with leading jewellery brands to offer gold and silver coins online. Users can now purchase 24K and 22K (999) gold, as well as 999 pure silver coins, from trusted brands like Kalyan Jewellers, Malabar Gold & Diamonds, Muthoot Exim, MMTC-PAMP, Mia by Tanishq, Gullak, and Voylla, all available for delivery within minutes.

MMTC-PAMP has partnered with quick comm platform Blinkit to enable 10-minute delivery of its purest minted gold and silver products this Diwali and Dhanteras.

Future outlook

As 2025 draws to a close, the Indian jewellery market is navigating a dynamic environment, shaped by soaring gold prices, evolving consumer preferences, and shifting media strategies. Experts expect advertising spends to increasingly focus on measurable ROI and narrowcasted targeting. Digital platforms, particularly influencer marketing, performance media, social commerce, and OTT/connected TV, are emerging as key growth drivers, contributing around 15% to incremental ad spends. Out-of-home campaigns are also seeing moderate growth, around 5–10%, complementing hyperlocal and store-driven activations. Print and television remain crucial for mass festive communication, valued for credibility, wide reach, and trust, particularly among older and premium buyers.

According to brands, the immediate focus remains on Dhanteras and the festive quarter. “We’ve planned several initiatives to strengthen consumer engagement, drive store footfalls, and enhance regional connect. Beyond the festive season, we remain optimistic about FY26, backed by steady demand for both traditional and lightweight jewellery and continued expansion into new markets,” Sen had said.

The integration of traditional retail with digital platforms is expected to further enhance customer engagement and sales. 

In summary, as per experts, the jewellery market remains robust, with established brands maintaining strong consumer loyalty and repeat purchases. 

According to the World Gold Council data, domestic gold prices have surged 66% year-to-date, with the international rally reaching 58%, the largest increase in 45 years. Gold imports hit a ten-month high in September at an estimated 100–104 tonnes, reflecting strong seasonal and investment demand. Listed jewellery retailers reported robust revenue growth in Q2, ranging from 6.5% to 63%, supported by targeted marketing, curated launches, and old-gold exchange schemes.

Investor interest in gold is also intensifying, as September saw record inflows into Indian gold ETFs at ₹83.6 billion, a 282% month-on-month jump, bringing cumulative holdings to 77.4 tonnes. Retailers also continue to expand, adding 5–34 new stores each, while digital and e-commerce channels are witnessing doubled year-on-year revenue growth for some players.

In summary, the jewellery market remains robust, underpinned by strong brand loyalty, strategic marketing, and consumer optimism, and the question now is which brands will turn this festive momentum into long-term growth.