Akshay Tritiya to grow-up by 20% YoY!

The demand will be driven by the Tritiya, mother’s day & weddings too! 

By estimating the Akshay Tritiya 2022, leading players have expressed their outlook. In the row, Manju Kothari, Creative Director, Entice by KGK-Since 1905 said, "Jewellery demand rises during Akshay Tritiya and we expect double growth this time. 

This Akshay Tritiya, the sale expectations of Diamond Jewellery will be good despite rise in gold. Compared to last year, there is a positive sentiment in the market. Usually, we see buying demand ahead of this auspicious day and on that particular day too. And, we have strategically launched an all-new Harmony collection this season inspired by the blend of purity and strength of Nature.   

This timeless collection is inspired by the magnificent world of nature, fantasy and magic which is beautifully crafted in 18kt Gold.  Woven with purity, class & sophistication, the "harmony Collection by ENTICE by KGK is a miraculous creation to leave an impression in your heart. 

These mesmerizing designs embedded with uniquely cut gem stones bloom in all its glory in this splendid line that embodies Entice’s mastery over exemplary designing and innovation. There is a huge demand for small ticket size of diamond jewelries like pendent sets, rings & ear rings and also for wedding jewelries as the season starts in mid may. 

There is also a huge opportunity to develop and strengthen the bond between the top & HNI customers by revamping them to visit our showrooms or doing home visits. Many digital initiatives too we have taken to serve our customers better as customers are adapting to new digital strategies and developments easily as per their convenient time and place." 

Milind Mathur, Creative Director & Partner, Kohinoor Jewellers Agra & Kohgem said, "Keeping in mind the last two years when Covid was at its peak and we were in a complete lockdown situation, this Akshay Tritiya we are expecting a healthy growth and an overall positive sentiment from our customers as the price of jewellery has also been stable in the last few weeks.  

As a manufacturer, we have already started seeing an increase in the number of orders from the retailers as the auspicious day approaches. We can see that the demand has bounced back as manufacturing activities are back to normal.

With wedding season also on, we are also expecting an increase in footfalls at our store too. Over the years, we have also seen that there has been a shift in people wanting to buy wearable, contemporary jewellery and it remains the same on Akshay Tritiya too. Another important occasion is Mother’s Day, which is in the same week as Akshay Tritiya, adding to the overall sales." 

“Akshay Tritiya is happening after 2 years in physical form! Not only the jewellers but also customers are looking forward to it! This year, there is great momentum leading upto the single largest shopping day for jewellery Pan India which is the auspicious day of Akshay Tritiya. 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. Market looks very strong at the moment. 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. 

We will see strong sales in bullion happening too 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. Last two years, a big chunk of the business was conducted online, however this time around, we believe our digital platforms will be used more for browsing and selection while actual purchases will happen in person. 

People are very excited about stepping out and shopping on Akshay Tritiya! PNG Jewellers is expecting to do 20% more business than last year” said, Dr Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers.