Enthralling Akshaya Tritiya for both, buyer and seller!

A much heavier footfall for brides at the festive! 

Update 1: Somasundaram PR, Regional CEO, India at World Gold Council (WGC) said, “Gold buying is an inseparable, nearly mandatory, part of Akshaya Tritiya celebrations for millions of Indians. After two years of covid induced lull, the festive sentiment among trade and consumers appears to be stronger this year, surpassing expectations. Sustained aggressive marketing and trade promotions have played a role in increasing in-store visits and leveraging the occasion. 

Digital gold buying platforms also sound upbeat, with small buyers enthusiastically picking up the convenience of purchasing gold for as little as one rupee on their smartphone, without having to worry about purity and transparency. Even with gold prices at a high, initial market feedback point to a buoyant Akshaya Tritiya, due, in no small measure, to a heightened interest in gold among consumers following risks posed by inflation and global uncertainties.”

Vaibhav Saraf, Director, Aisshpra Gems & Jewels said, “After 2 years of spending Akshaya Tritiya in a lockdown, we are thrilled to witness the amazing response from our patrons across all our stores. 

Since morning, we have been seeing walk-ins and there has been a festive vibe in the stores. 

While people are buying all sorts of jewellery including gold, diamonds, bridal etc, bullion is moving as usual for token buyers too. 

The day exceeded our expectations at least by five times, and we witnessed a crowd of 400 to 500 people in the store at any given hour the whole day. We also concluded our Akshaya Tritiya Lucky Draw contest today and will be announcing the winners for it soon too. One lucky winner will win a car, and another will win a bike. This was our way of just being a part of the festivities.”   

Shrey Mehta, Director, Pooja Diamonds said, “As we specialize in Bridal Jewellery, this year we are witnessing a much heavier footfall for brides who are taking deliveries of their bridal jewels as it's an auspicious day, whereas, of brides who are placing orders and picking up a token jewellery piece.  

When compared to 2019 Akshaya Tritiya, this year we have seen a 100% growth in terms of footfalls as expected. We are happy to see that the pre-pandemic vibe is returning to the market and businesses and consumer behaviours are going back to normalcy. As expected, retail shopping has revived itself at least in the bridal space in spite of the speculations during the pandemic that online may evolve as a dominant shopping channel.” 

Aditya Pethe, Director, WHP Jewellers said, “So far, it has been a very overwhelming response as we have seen a lot of customers since morning, and they are buying across the counters. Customers are buying all kinds of jewellery including Gold, Diamond, Silver and Coins too.  

We feel that this year's sales will be very robust, and we are expecting more footfalls in the evening, so we are anticipating a 25-30% rise vis-a-vis pre-pandemic year for today in particular, as well as expecting the rest of this season to do very well.”   

Reema Pahuja, Director, Tikamdas Motiram Jewellers, “As compared to 2019, this year's footfall of clients on Akshaya Tritiya is 60% better. Everyone is out to buy on this auspicious day as they got this opportunity after 2 years of lockdown. We are seeing bridal shopping dominantly happening this year, where brides are exploring versatile jewellery pieces that they can reuse even after their wedding. This year, however, consumers have regained confidence in the industry as well as in retail shopping”  

Milind Mathur, Creative Director & Partner, Kohinoor Jewellers Agra & Kohgem said, “After the two pandemic hit years, we have seen that the jewellery sales have picked up despite the overall price inflation in the market. We can surely say that Akshay Tritiya has taken off on a positive note this year. With the ongoing wedding season and the festivity, we are happy with the response that we have received from our customers.

As people were not able to purchase jewellery in the last two years, they could not celebrate this day. As a manufacturer, we have also seen that more and more orders keep coming in. Footfalls are also good despite the heat and a working day. 

This time around, customers prefer lightweight jewellery with beautiful designs. Pieces like earrings, ear studs, and rings are preferred by the customers. 

A great number of sales should also be contributed to the ongoing summer wedding season. Overall, this auspicious occasion of Akshay Tritiya has been full of positivity and light as compared to the last two years. And we hope it continues at the same pace.”  

Arun Narayan, Vice President, Category, Marketing and Retail, Tanishq at Titan Company Limited said, “We have witnessed a very good response from customers who were looking forward to celebrating Akshaya Tritiya after two years.  

Our exciting new bangle collection Kalai has been very well received whilst earrings and finger rings were also favoured. Our safety protocols and preparations ensured that we served very large numbers of customers across our 390 stores whilst sustaining our ‘Gold Standards of Safety'. Our newly introduced Gold Coin ATMs also enabled customers to shop quickly and comfortably. We now look forward, enthused by this response, to a good wedding season ahead.”  

Pawan Gupta, PP Jewellers by Pawan Gupta, said, “Our goal has always been our customer's 100% satisfaction since, after two years, people are finally celebrating festivals and weddings like the Pre Covid times, we were overall expecting good sales, which came true too.  

Keeping the possible fourth wave in mind, this year we had both the options available for our customers, virtual and in-store shopping, as per their convenience. We have also observed a mixed crowd of customers purchasing gold jewellery this year, from families looking for wedding jewellery & jewellery options for the occasion of Akshaya Tritiya to young customers looking for some options in gold jewellery as an investment purpose.

Hence, due to the recent reduction in gold prices, the auspicious occasion of Akshaya Tritiya as well as gold being undoubtedly one of the best investment options, we have seen good sales in gold jewellery. 

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 witnessing double-digit growth in sales this year.”  

Rohan Gupta, Managing Director, RK Jewellers said, "This day was welcomed on a positive note. After 2 years, this occasion was celebrated with great vigour by the customers and jewellers alike. The auspicious occasion brought back the footfalls in both store and online mode.  

We saw our customers making a fresh purchase and also took deliveries of the orders that were placed earlier. The ongoing wedding season has also played a very important role in the increase in sales. This year we saw a mixed crowd visiting the stores, especially women and young customers coming to the store to make the purchase."  

The demand for jewellery has improved significantly on account of sales during the festive season and weddings. Moreover, the discount offered at this time of the year has also helped us sail through this and get more and more orders. The demand can be seen picking up across the country.  

We will end up with a steady rise in our sales this time as compared to the last two years. Consumer sentiments have also shown improvement this year. And we hope this trend continues as we wish everyone a very Happy Akshay Tritiya."