In Bangladeshi culture, gold jewellery has long symbolised prosperity, tradition, and familial bonds, gracing every socio-cultural and religious festival with its revered presence.
From meticulously crafted bridal sets to treasured heirlooms passed down through generations, gold jewellery has held a cherished place in the hearts and minds of many.
However, this golden era has dimmed as the price of gold has soared to record heights, reaching Tk1.14 lakh per bhori, as announced by the Bangladesh Jewellers Association.
The escalating prices of gold have compelled consumers to turn towards imitation jewellery, which offers stylish alternatives without compromising on elegance.
Imitation jewellery has gradually found its niche in people鈥檚 affections, seamlessly complementing attire for various occasions such as weddings, engagements, birthday parties, traditional outings, or cultural festivals.
Crafted predominantly from brass or copper, these pieces also utilise a range of metals including stainless steel, aluminium, silver, gold, and platinum.
A stroll through Gausia and New Market reveals a plethora of imitation jewellery options, spanning from traditional to contemporary designs. Necklaces, earrings, bracelets, and rings abound in diverse styles and materials.
Keya, a bride-to-be, recently embarked on a jewellery shopping expedition to Dhaka鈥檚 New Market with her mother in tow.
Reflecting on their decision, Keya鈥檚 mother remarked, 鈥楩or generations, gold has been the quintessential jewellery choice for weddings. However, given the current gold prices, it鈥檚 simply not feasible to adorn oneself with so much gold. Hence, our presence here today.鈥�
Another patron, Jannatul, shared her experience of purchasing two gold-plated sets for her brother鈥檚 wedding, totalling Tk 15,000.
One set, priced at Tk 10,000, and the other at Tk 4,000, exemplified the affordability and allure of imitation jewellery in today鈥檚 market.
She expressed, 鈥業 am delighted with the purchase as the sets exude style and elegance while remaining remarkably affordable.鈥�
Prices in these markets were competitive, catering to every budget. Intricately designed higher-end pieces commanded a premium, while simpler designs remained more accessible.
The quality of offerings varied significantly; some pieces showcased fine craftsmanship and meticulous attention to detail, while others seemed mass-produced and of lesser quality.
Most traders and retailers in Gausia, New Market, and other markets sourced their jewellery collections from the wholesale market in Chawkbazar.
Chawkbazar鈥檚 Hazi Selim Tower, boasting over 100 shops, offers a diverse array of finely crafted jewellery pieces.
Md Enayet Hossain, proprietor of 鈥楽imanto Gold Plate,鈥� shared that he was motivated by the burgeoning demand for imitation jewellery amid rising gold prices, prompting him to establish his shop two years ago.
鈥榃hile most stores here focus on wholesale jewellery, we also cater to retail customers, offering our products at retail prices,鈥� he explained.
The stores stocked jewellery ranging from Tk 30 to Tk 5000, which were retailed at double the prices.
Market insiders revealed that gold and silver-plated jewellery were manufactured in factories in Savar, where thousands of craftsmen meticulously crafted imitation jewellery to perfection.
They claimed that retail outlets nationwide frequented the market for wholesale jewellery purchases.
During a visit to Hazi Selim Market, Kishor Kumar Jajodia from Jaipurhat was observed meticulously examining jewellery details.
He disclosed, 鈥業 own Shuvo Antique House in Sonarpatti, Jaipurhat, where I retail various trendy jewellery pieces, most of which are sourced from this market.鈥�
He added that he visited to procure new jewellery designs every six months.
Md Selim Reza, secretary of the Haji Selim Tower Shop Owners Association, said that the market housed approximately 100-150 shops offering a diverse range of jewellery.
鈥楽ome of these pieces are crafted in Kamrangirchar and various locales in Old Dhaka, while gold and silver-plated jewellery originate from Savar鈥檚 Khaguria area,鈥� he stated.
Selim noted that imported jewellery from India and China dominates sales in the market.
Md Ibrahim, proprietor of Ibrahim Jewellers located on the fourth floor of the market, imports a portion of his jewellery collection from India.
He said importing handcrafted Afghani, Kundan, matte gold, and oxidised jewellery from Jaipur, India.
鈥楽ome online retailers purchase these jewellery pieces from me and sell them at higher rates. However, I also retail them at prices that yield me a profit margin of Tk 10 to Tk 12,鈥� Ibrahim disclosed.
In addition to economic considerations, the shift towards imitation jewellery reflects evolving consumer preferences.
Many younger consumers find gold jewellery uninspiring, opting for imitation pieces that offer a wider array of designs, allowing them to showcase their personal style affordably.
One customer expressed, 鈥業 can coordinate these jewellery pieces with my outfits without resorting to the same gold or silver jewellery for every occasion. Moreover, gold isn鈥檛 suitable for casual wear, unlike imitation jewellery.鈥�
As the price of gold fluctuates, consumers increasingly perceive it as susceptible to loss, theft, or damage.
Nurjahan, a working professional, was spotted shopping for the upcoming Eid-ul-Fitr with her daughter.
She remarked that buying gold isn鈥檛 financially feasible for acquiring new pieces for every upcoming event.
Nurjahan remarked, 鈥榃earing gold jewellery during any function or on a daily basis is very risky due to its high prices. Imitation jewellery is clearly the preferred choice nowadays as it鈥檚 affordable and versatile.鈥�
In addition to the myriad options available at various markets in the city, numerous online shops offer a wide array of imitation jewellery with delivery services both within and outside the country.
Lora Khan, originally from Sirajganj, established Six Yards Story, an online store for sarees and jewellery, a decade ago while studying at BRAC University.
Initially intended as solely a saree store, Lora expanded her offerings after receiving positive feedback from customers on the earrings she introduced within a year of opening.
Recognising the growing preference for imitation jewellery, she shifted her focus towards jewellery design.
Reflecting on the evolution of consumer tastes, she noted, 鈥榃hile the high price of gold is a significant factor driving consumers towards imitation jewellery, there鈥檚 also a growing preference for unique designs.鈥�
Etha Chakma, a resident of Rangamati, launched an online store for handcrafted fusion ornaments called Baanguri in 2015.
Drawing from her 13 years of experience in the development sector with organisations such as World Vision, UNDP, and UCEF, Etha shared that 鈥楤aanguri鈥� translates to 鈥榟and jewellery鈥� in Chakma.
Initially an experiment, Baanguri gained momentum as the demand for such jewellery increased gradually.
Their collection encompasses a variety of materials including yarn, wood, metal, stone, wire, and beads, with prices ranging from Tk 150 to Tk 5000.
Etha emphasised their commitment to utilising locally available resources and incorporating unique materials sourced during her travels abroad into their designs.
The surge in gold prices has catalysed a significant shift in consumer preferences, with imitation jewellery emerging as a viable alternative offering affordability, style, and sustainability.
As the demand for imitation jewellery continues to soar, it鈥檚 evident that it has secured its place as an ideal option in the realm of fashion and accessories.鈥�