Uncertainties in 2023 could dent jewellery demand - McKinsey

Increasingly cautious consumers are likely to cut spending on non-essential items in 2023, jewellery included, as macroeconomic and geopolitical instability persists, a latest study by McKinsey & Co revealed.

According to McKinsey & Co’s State of Fashion 2023, fashion industry stakeholders identified casualwear, followed by sportswear and sneakers, as the highest-ranking categories in terms of growth potential.