GJ Town India

                                          Consumer sentiment remains muted                                                                                          Offline sales severely impacted   Jewellery Market Bureau: The scenario 2021 was well described by the Somasundaram PR, Managing Director-India, World Gold Council on Akshaya Tritiya and said, “Akshaya Tritiya is celebrated under the shadow of covid pandemic for a second year in a row. Buying and gifting gold is considered auspicious on this day and it has huge cultural significance.” He said, amid lockdowns in several parts of the country and an uneasy air of fear that hangs, consumer sentiment...

Though many jewellers reported growth in 2020!   Following Dusshera 2020, jewellers were eyeing  upon another largest occasion for jewellery buying. De facto fraternity worked hard to ensure Dhanteras sales. Buyers celebrated the festival and carried on jewellery buying amid all those safety norms for Covid-19. They pushed up jewellery sales yet over all the sales could not reached to the overall sales of 2019, It is estimated a short by 10% YoY (Year over Year.)   Although many reported and claimed a growth of 10% to 30% in this Dusshera over the previous year yet the overall ground reality could not draw a conclusion of such growth! Let’s learn through direct expression of key jewellers’ pan India. Aditya Pethe, Director, WHP Jewellers said, “Looking at the day so far, we can say that it has been very good. This Dhanteras is looking very promising in terms of what we had initially expected. As far as the sales are concerned we’re confident that we’d do as well as la...

  Big-ticket purchases of everything including jewellery during the festive season   Ahead of Dhanteras, jewellery fraternity get expressed upon their view vibrantly! Let’s learn the trend today at the juncture of Dhanteras 2020 is on November 13! Let’s embark upon those views!   Somasundaram PR, Managing Director, India, World Gold Council: “Gold has always been integral to festivals and celebrations in India, particularly so during Dhanteras, Diwali, and the ensuing wedding season. Millions of Indians believe that purchasing gold during the auspicious occasion of Dhanteras will usher in good fortune and wealth.   Reflecting this sentiment, this year, Dhanteras is likely to mark the onset of a modest buying period, providing some respite after a prolonged phase of suppressed demand and subdued activity due to current pandemic. A part of this latent demand is expected to resurface, although lifetime-high prices and the shadow of Covid will continue to impact ov...

  Now all eye on jewellery buying at Diwali days!   Over all Covid-19 pulled down Dusshera 2020 jewellery sales! Looking at the report from pan India where some of the zones have registered just 37% of jewellery sales compare to the previous year, Dusshera while western part of India attained around 65% of jewellery sales compared with the Dusshera 2019. Over all pan India Dusshera jewellery sales estimated of about 50% to the previous year Dusshera 2019! In the row, Aditya Pethe, Director, WHP Jewellers said, “The Dusshera has started well. So far it is very encouraging. Consumers are betting more on gold Jewellery as compared to light weight Jewellery. Surprisingly the sales have been very good and we expect till the end of the day we may do sales just like last year.” On the other hand, Ishu Datwani, Founder, Anmol expressed that, “There have been few sales and clients since morning.  Today being a Sunday we expect clients to come post 3 to 4 pm. The trend of the las...

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 & bi...

Good endeavour to halt CAD & To support the Make In India Craftsmen & Artisan would benefit! Recently by a notification government hiked up import tariffs on 19 items where about six items are related to GJ (Gem-n-Jewellery) industry & trade. It is to be noted that, the items are, 1: Non industrial diamond (other than rough diamonds), i.e., cut and polished diamond, 2: Diamonds-semi processed, half cut or broken, 3: Lab grown diamonds, 4: Cut and polished Colored gemstone, 5: Articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal & 6: Articles of Goldsmith or silversmith wares and parts thereof of precious metal or of metal clad with precious metal. Now, industry leaders & players have reacted & casted their feedback on the tariff hike! Here are the choicest expressions! Aditya Pethe, Director, WHP Jewellers said, “This is a welcome move as it will discourage Indian retailers from importing...