At its lowest price for decades, and with the spread between the gold and platinum price, platinum is not only attractive for buyers but also offers margin opportunities for retailers, says the third annual PGI Retail Barometer.

Independent platinum market experts and industry analysts contribute to the report, which reveals retail sales data of platinum jewellery for the past year as well as projections for this year. Jewellery is the second-largest use of platinum after the autocatalyst market.

More than 400 jewellery retail companies were surveyed in the research for the barometer, accounting for about 23,000 retail outlets in the four main international markets, China, India, Japan and the US.

In China, the overall economic slowdown hit the entire jewellery industry, says the report, with the demand for platinum jewellery decreasing by 4 per cent. However, the bridal segment continued to grow moderately.

Hong Kong chains and PGI’s strategic partners significantly outperformed the market.

In India, platinum continued to benefit from overall growth, the demand increasing by 24 per cent. While the economy was also impacted by the global slowdown, consumer spending at a macro level increased slightly. Platinum made its entry to the key wedding category last year.

In Japan, modest increases coupled with shift in share of heavier product forms offset the slight decrease in unit sales of platinum jewellery, leading to overall growth of 2.7 per cent. Record numbers of inbound tourists benefitted metropolitan retailers and service providers, especially department stores and non-bridal.

In the US, the low price incentivised manufacturers and retailers to stock and sell platinum, leading to 10 per cent overall growth.

PGI CEO Huw Daniel says both China and India remain key development markets for platinum jewellery.

Founded in 1975, Platinum Guild International is a marketing organisation supported by major South African platinum producers.