Jewellers pin hopes on Akshaya Tritiya to revive sales
Akshaya Tritiya is one of the most important days in the year for jewellery sales and consumers look up to the jewellers for new designs and special offers. This year too, buyers are waiting for this auspicious day to take the plunge into the jewellery market as several jewellers offer schemes and discounts during this period. Retail jewellers in different parts of the country are expecting an upward movement in sales on the occasion of Akshaya Tritiya, which is falling on April 18, 2018.
Ishu Datwani, founder, Anmol expects sales to increase by 25-30 per cent this Akshaya Tritiya. “Akshaya Tritiya is considered the second most auspicious day after Dhanteras for buying gold or jewellery. We are expecting at least 25-30 per cent increase in sales this Akshaya Tritiya as compared to last year.”
He informed that this year, Akshaya Tritiya falls during Anmol’s annual Anniversary Sale period in April. And as part of their 32nd Anniversary promotion, the jeweller would be offering up to 100 per cent discount on making charges on diamond and gold jewellery and fabulous gifts with every purchase – which will give an additional boost to Akshaya Tritiya sales. “We are expecting good sales especially for classic diamond jewellery and gold temple jewellery,” he added.
Samir Sagar, director, Manubhai Jewellers too hopes that Akshaya Tritiya 2018 will bring a positive, festive spirit to the industry and the business as a whole. “Now more than ever, it is time to look at the future with a progressive viewpoint. We are excited about Akshaya Tritiya and are putting our best foot forward with some fantastic jewellery designs in gold and diamonds. This is the season for gold jewellery to flourish, but we are also hopeful towards the performance of diamond jewellery this Akshaya Tritiya,” he shared.
Jewellers also believe that the recent increase in the gold prices will reinstate consumers’ confidence in gold jewellery. According to Aditya Pethe, director, WHP Jewellers, the rise in gold prices will attract buyers this Akshaya Tritiya. “We are anticipating a good demand this Akshaya Tritiya with an expected increase of 15-20 per cent in sales this year. As the gold prices have increased in this week, we feel it will reinstate the consumer’s faith into the category. This is the season where consumers mostly buy gold jewellery and keeping this in mind we have launched a Gold Nath collection which will boost our sales this Akshaya Tritiya,” he informed.
Vaibhav Saraf, director, Aisshpra Gems and Jewels, Gorakhpur said, “During Akshaya Tritiya, we are expecting positive sales as compared to last year, the reason being the upcoming wedding season in summers. “ He goes on to add that “The wedding season will bring in bookings for bridal and wedding jewellery. Even as the overall market sentiment is positive, the gold prices are likely to put marginal effect on consumer demand for heavy jewellery.”
Tanya Rastogi, director, Lala Jugal Kishore Jewellers, Lucknow believes that that the recent PNB scam has changed the consumers’ perception towards jewellery buying. According to her, the consumers are more interested in buying gold jewellery over diamond that too from trusted jewellers. “Well, month of March has been slow over all. Due to the Nirav Modi Incident, we have seen a shift in trend where consumers have started opting for gold over diamonds as they are skeptical. One more shift that we have noticed is, that they want to only shop with family jewellers who have been in the market since generations and avoid going to the newly emerged brands. Being a family jeweller, this shift has improved our sales,” she disclosed.
Commenting on the jewellery categories that will be in demand this Akshaya Tritiya she said, “We are expecting a good demand of gold jewellery especially amongst those who are buying as a shagun or investment. However, consumers who are buying or booking wedding jewellery are still expected to buy jadau and uncut jewellery as it is more design oriented and adds the drama quotient. Temple jewellery, being gold based and design oriented has become popular amongst the brides as it is a win- win. We are hoping this Akshaya Tritiya to bring back the shine to the sector.”
Abhishek Chanda, director, Kalasha Jewels- A Unit of Caps Gold said that Akshaya Tritiya 2018 will help in overcoming the dull sentiments created in the previous year. “Last year there were ups and downs in the gems and jewellery industry, we are expecting the sales to be revived this year. Akshaya Tritiya has always been an auspicious occasion to purchase gold. But now with increased awareness, Akshaya Tritiya has turned into a vital occasion especially for south Indian citizens and has imbibed in its culture. Moreover, Akshaya Tritiya brings a positive spirit to the gems and Jewellery industry as a whole. We are promoting statement gold and diamond jewellery for the season as they have been popular amongst our clients,” he concluded.