Indian jewellers share their dreams, expectations, and sales strategies for the approaching festival
Akshaya Tritiya, also known as Akha Teej, is among the most auspicious festivals in India celebrated by the purchase of gold. This festival is associated with prosperity and women purchase gold and jewellery on this occasion. Multitudes purchase gold on this day as a form of investment because investing in gold on this day heralds the start of a brand new auspicious beginning. It is believed that whatever is purchased on this day stays with us forever. Jewellers from across India express positive sales and auspicious beginnings.
Dr Saurabh Gadgil, Chairman & MD, PNG Jewellers is optimistic when he says, “We will see strong sales in bullion happening from customers who make their annual purchases for Akshay Tritiya. We are already seeing a lot of bookings coming in for pick-ups on the particular day. The reason is clear – the fear of prices correcting sharply after the war between Russia and Ukraine ends, has now receded and gold prices are looking at a steady rise from here. Secondly, nearly 40 lakh weddings are expected to happen in June this year, and this will give a big boost to Akshay Tritiya shopping across the country. In 2019 India was able to consume approximately 18 tonnes of gold on Akshay Tritiya; this year, we are expecting the number to cross 20 tonnes as the market looks very strong at the moment. PNG Jewellers is expecting to do 20% more business than last year.”
From the capital city of Delhi, Rohan Sharma, MD of RK Jewellers SE2 happily asserts, “Gold is always considered more than just jewellery in India, it’s a symbol of new beginnings. Keeping this emotional connect to buying gold jewellery we have offers on gold jewellery. Indian wedding season is around the corner and Mother’s day too is also falling in the same week as Akshaya Tritiya, which will give an additional boost to sales. Hence, we are expecting growth and an increase in overall gold jewellery sales this year as compared to the last two years subsequently planning to provide the lowest gold rate in Delhi and minimum making charges starting from upto 7.5%.” Pawan Gupta from PP Jewellers adds, “The pandemic was tough on each one of us and has impacted various industries one way or the other. However, we believe that the human capacity for survival and renewal is terrific, in such tough times people do come out and evolved beautifully. What we have learnt from the last 2 years is that one needs to stay prepared for any kind of uncertainty. Yet, customers will buy gold jewellery as it is considered auspicious on Akshaya Tritiya and gold is undoubtedly one of the best investment options. The ongoing summer wedding season is another factor that is contributing to the surge in Gold jewellery sales. We are witnessing high demand for gold jewellery designs such as Antique, temple, Rajkot & Turkish. In comparison to the gold jewellery sales in the last two years on Akshaya Tritiya, we are expecting double-digit growth in sales this year.” “ This year, Gudi Padwa witnessed a very good response and sales, so we are hoping that Akshaya Tritiya too will surpass our sales expectations, says Aditya Pethe, Director, WHP Jewellers and adds, “We feel that heavy jewellery in gold and diamonds will be in high demand as there are a lot of weddings planned. We will be promoting the Mangalsutra collection, Vivah Diamond collection for brides, and Contemporary rose gold jewellery for daily wear. For the comfort of our customers, we will be offering an EMI facility and jewellery protection plan on all purchases. Additionally, we have an e-commerce portal on which we will be offering doorstep delivery of jewellery and gold coins across India that allows consumers to shop from home.” Milind Mathur, Creative Director & Partner at Kohinoor Jewellers Agra and Kohgem manufactures and retails jewellery and notes of an increase in retail orders stating that the demand has bounced back and adds, “With wedding season also on, we are also expecting an increase in footfalls at our store too.”
Vaibhav Saraf, Aisshpra, Director, Aisshpra Gems & Jewels has planned a special offer at his store. “A lucky draw contest planned for customers who buy jewellery worth 50k or more would make him/her eligible to win a brand new ‘Baleno’ Sigma car and 6 ‘Hero’ bikes. One lucky draw coupon will be given for every purchase in multiples of 50k.” This contest starts on 20th April and end on 2nd May, and the winners would be announced soon after. “The contest is to encourage customers to pre-book and buy their favourite jewellery on this auspicious occasion.” Suraj Popley from Popley Eternal says, “As Akshay Tritiya marks prosperity in one's life we ought to purchase gold as an investment as well as ritualistic traditional heirloom purchase. This Akshaya Tritiya we have gold jewellery assembled with precious gemstones from the Eternal Karigiri collection and the La Petite collection for minimalistic jewellery.