Dhanteras Jewellery sales up above 7% YoY

Many jewellers & segments fetch over 15% sales YoY

This Dhanteras remain a classic case of demand & supply. Initially no jewellers had expected any growth at the festive. Later all of the sudden market sentiments get changed and many leading had expected the Dhanteras to grow over 20% by adding wedding season advantage! Yet over all the Dhanteras grew over 7% only pan India YoY. 

Mr Nitin Khandelwal, Chairman, All India Gem and Jewellery Domestic Council (GJC): “This Dhanteras has been better than our expectation. The sales have seen a positive figure as compared to last year and we have experience over 7-10 percent higher jewellery sales compared to last year Dhanteras.

This festive season followed by a long wedding season is going to contribute substantially in sales. The consumers are witnessing new promotions and attractive schemes across India by Jewellers, thus giving a win-win situation for both.”

Mr Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers and National Director, Indian Bullion and Jewellery Association (IBJA): “Dhanteras is one of the most auspicious days for gold and jewellery buying in India, this year is no different, the market has shown a rise of about 7-10% from last year.

Buyers are not just looking for discounts this festive season, but are also evaluating the total value composition keeping in mind the making charges, certification, product quality, designs, brand legacy, goodwill, after sales service and overall buying experience.

Customers have shown a keen interest in diamond jewellery this year, there has been a steady incremental demand in this segment compared to last year. Customers are looking to buy diamond jewellery from reputed brands that have a legacy of fair trade and a robust buy back guarantee. It is advisable that customers ensure that they get proper bills and certificates for their purchase.

This is the right time to investment in gold due to the current market situation; we may see an appreciation in the gold price in coming months in the bracket of 38,000 to 40,000 per 10 grams. Costumers are opting for both types of gold investments; physical as well as e-gold.

It is of great significance to Indian investors to have tangible gold in their hands and at their homes to feel secure. It will take time for the customers to accept sovereign gold bonds or e-gold but both the options are open to the customers.

 

Customers who had pre-ordered jewellery and scheduled them got their pickups for today on Dhanteras. Our privileged customers have always preferred our designer jewellery. People are not just buying gold jewellery but also silver articles, diamond and antique jewellery.

Those who want to buy any bigger ticket product; they generally avoid Dhanteras and purchase jewellery a day after or on Diwali. We have received a decent response till now and hope this Diwali gets stronger in terms of sales than the last year.”

For Dhanteras and Diwali Caratlane had created a survey regarding Dhanteras and Diwali in the form of info-graphic. According Mr Atul Sinha, SVP - Marketing, CaratLane A Tanishq partnership, “We are witnessing a shift in trend among jewellery buyers.

The impact of higher gold prices is not so much on jewellery that can be worn on a daily basis. There is a double-digit growth in demand for jewellery that women can actually wear every day rather than heavy jewellery or gold coins which typically end up in the locker. We are expecting an increase in footfalls and a further surge in online purchases in the next two days.”

Mr Shreyansh Kapoor, Vice President, Kashi Jewellers, “Dhanteras is the busiest day of the year for a retail jeweller; it is one the most auspicious days to buy gold and jewellery. We are seeing a good turnout of customers. Walk-ins started from early morning and the crowd will keep coming until mid-night.

Mr Aditya Pethe, Director, WHP Jewellers, “We were expecting a 15% to 20% growth in footfall and since the day has started, it seems like we have met our expectations. People are opting for light weight jewellery in gold and diamond.

Traditional Maharashtrian designs like Naths, Mohan Maal etc are preferred by traditional customers. We have also seen younger generation visiting the store. One more thing we noticed this year is that customers are not restricting themselves to Dhanteras for gold shopping. When we look at the year on year sales, we are meeting the expected sales targets.”

Mr Ishu Datwani, Founder, Anmol said: “The sales & footfalls have been good this Dhanteras since morning itself. We are expecting more customers as the day goes by & expecting a 15% to 20% spike in Dhanteras & Diwali sales as expected.

Diamonds continue to be the preferred choice along with antique gold jewellery.” Know Giorgia Andriani-an Italian model and dancer from Milan, Italy also spotted at Anmol.

Quote by Ms Vaishali Shah, Director, Rivana Gold and Diamonds said, “Footfall is almost the same as last year and more Jewellery is purchased compared to coins. 

Wedding purchases have been recorded too with Solitaire stud earrings, diamond necklace; Temple Jewellery in gold is doing well. 70% of the total sales were in Diamonds in the range of Rs2 lac to Rs5 lac. With regards to gold, our temple collections saw a good response.”

Quote by Ms. Tanya Rastogi, Director, Lala Jugal Kishore Jewellers said, “The rally since Oct 11th had a correction with the onset of November which has been favorable for Dhanteras. Due to late wedding season the customer could afford to wait and watch till now. But their pending demands are now converting during the Dhanteras weekend making it a successful one.”

Quote by Mr Pradeep Kothari, Director, Karan Kothari Jewellers expresses that, “The excitement in people has been good and the footfall recorded so far has been 10% more than last year. Keeping the slow season in mind, we are seeing a very good reaction from the customers today which reinstates the fact that Indian consumers have faith in the category and the metal stays to be the preferred choice on auspicious days.”

Quote by Mr Vaibhav Saraf, Director, Aisshpra Gems and Jewels said, “We are witnessing a good footfall today with an increase of at least 5% compared to last year and looking at the billing pattern since morning; we hope to cross previous year’s Dhanteras sales. People are opting for Jewellery more compared to bullion!”