Tritiya to grow 25% YoY!

Virtually every jeweller has

Scheme, offer & new collection!

Virtually every jeweller has announced various scheme, offer and has showcased a fresh collection to celebrate the Akshay Tritiya 2019. It is true that “people like festivity!” And this the right time for jewellers to catch every festive occasion! Before drawing any conclusion let’s view the expressions of vibrant jewellery fraternity!

According to Aditya Pethe, Director, WHP Jewellers, “We are anticipating a good demand this Akshay Tritiya with an expected increase of 5-10% in sales this year. As the gold prices have increased, we feel it will reinstate the consumer’s faith into the category.  Gold Earrings, Necklaces and Bangles in light weight contemporary settings will continue to be the bestsellers!”

Another player Ishu Datwani, Founder, Anmol says “The sales graph is on an uptrend & the consumer buying sentiment has been good since Gudi Padwa. There has been a good demand for small & big-ticket items especially in diamond Jewellery.

We would be concluding our 33rd Anniversary sale on Akshaya Tritiya & would be offering great deals on diamond & gold Jewellery - which will give an additional boost to Akshaya Tritiya sales. We are expecting 25-30% increase in sales this year on Akshaya Tritiya as compared to last year.”

Tanya Rastogi, Director, Lala Jugal Kishore Jewellers is focusing on the key factors that would push up the demand on Akshaya Tritiya to grow YoY. “We are expecting a good Akshaya Tritiya especially from the rural sector which account for a sizeable percentage of sales.

The welfare schemes targeted by government for the farmers ahead of elections boost the rural income which they tend to convert to gold. We also have a good wedding season this summer so we are expecting a strong Akshaya Tritiya!

Vaibhav Saraf, Director, Aisshpra Gems and Jewels said: “This year we are expecting a nominal growth in sales during Akshay Tritiya as the movement of goods and sales are both being hampered by the model code of conduct. We are expecting major conversions from gold to diamond jewellery.”

Vaishali Shah, Director, Rivana Gold and Diamonds expects a safe moment for this festive! “This year during Akshay Tritiya market is expected to be better. Gold prices should linger around 32,400. Sales are expected to be as good as last year or may be better by 5-10%!”

Shreyansh Kapoor, Vice President, Kashi Jewellers says, “The summer wedding season has begun and this year we have a lot of weddings happening, which is a great thing for jewellery sales. In North India, elections are happening on 29th April.

So, unfortunately, not many people are walking in to make the purchases due to the political environment. However, the following weeks seem promising from a sales point of views. We are expecting heavy sales as Akshay Tritiya and Mother’s day are in the same week.”

Concluding view says, over all fundamental is good & there is good environment for celebration! Moderate view says not the exact Akshay Tritiya day but the related time slot is favourable to push up jewellery sales! One may derive the factors that push up jewellery sales chart! It is likely to witness a growth about 20 to 25% YoY! (Exclusively edited by Nayan Jani, veteran media for gem-n-jewellery-Mumbai)