After months of uncertainty and apprehension, the jewellery sector finally has it good. In fact, good fortune is writ large all over the sector. While hugely successful trade events held in the physical form after more than a year had a role to play in the revival of the industry, the festive season has also had a lot to do with rising sales.

Festive season boom

First Navratri, and now Dhanteras and Diwali are acting as force multipliers for commerce in the retail jewellery sector. The industry expects a bonanza in the days leading up to Dhanteras, during which time, buying gold is considered auspicious, and right through the wedding season.

Says Ishu Datwani, Director, Anmol Jewellers, “Ever since Navratri started, there has been a nice and gradual build-up, and as Dhanteras and Diwali are approaching, we can see the swelling of the crowd and people coming with a very strong motive to buy. Sales have been good and have been going up in a very nice and positive manner, and it does look like things will pick on the 2nd of November, which is Dhanteras. We are expecting at least a 15%-20% increment from 2019 and 2020. For us, 2020 was as good as 2019, and even this year, things have been going up steadily.”

This is not an isolated case. Retailers across the nation are talking about good sales and a very positive response from buyers. Adds Satinder Jain of Jain Jewellers, Bathinda, “Dhanteras and Diwali are always special occasions for us. Sales are good, better than we would have thought some months back. Around this time, we make sure we offer something tangible to our customers. This year too, we are offering 30% off on making charges of diamond jewellery and 15% off on gold jewellery from November 1 to November 30. Besides, we have launched Mangal Bhavah, a new collection of wedding jewellery crafted by the finest artisans of India for the coming wedding season.”

Commenting on the festive season, Vaibhav Saraf, Director, Aisshpra Gems and Jewels, says, “We are expecting good footfall on Dhanteras, and an increase of at least 10% as compared to last year, which is good for Covid times. People are excited about the upcoming festival season, and have shown interest in booking their jewellery for Dhanteras. Customers are opting for jewellery, rather than coins and bullion. The enthusiasm is expected to continue even after the festive season, as the wedding season will commence soon.”

With the fear of the pandemic abating, people are now not afraid to step into stores and spend time choosing the jewellery of their choice. Says Aditya Pethe, Director, WHP Jewellers, “We are very optimistic about the upcoming festive season, and have very high expectations from the same. Since Dussehra, we are seeing a good build-up in sales. Slowly, the clouds of the pandemic are fading. People have been cautious about going out and shopping for quite some time since the second wave, but now, the pent-up demand is picking up. The Navratri season has been good, and the current festive season is also pretty good. We still have the wedding season to look forward to. We usually witness slow sales during the period of Shradh. However, this year, the sales have been better comparatively. We are expecting a good uptake in demand and hope to achieve a growth of at least 35%-40% year-on-year.”

Concurs Snehal Choksey, Director, Shobha Shringar Jewellers, “Dhanteras this year will be a special one, as the entire country has come out of the pandemic. This year, we have weddings of three seasons clubbed together. So, expectations are high, not only for Dhanteras, but for this entire season, and we already have a lot of deliveries lined up.”

If the festive season is anything to go by, the slowdown in the industry, well and truly, seems to be a thing of the past.