GJ Town India

Anantha Padmanabhan says  a double digit growth at Akshaya Tritiya Just ahead of the Akshaya Tritiya, the single great occasion to buy assets including gem & jewellery Mr Anantha Padmanabhan, Chairman, All India Gem and Jewellery Domestic Council (GJC) paints a rainbow, by forecasting a double digit growth at forthcoming Akshaya Tritiya. He said, “Gold prices have steadied near four-month low post the comments from US Federal Reserve. Global gold reserves rose 145.5 tons in the first quarter. Gold demand is expected to be robust in India considering the upcoming traditional gold and gold jewellery buying occasion Akshaya Tritiya.” By adding he said: “We have observed that the demand from retail buyers has increased due to falling gold price. This will remain on the positive side not just due to Akshaya Tritiya but also due to the long wedding season. In comparison to the jewellery sales last year on Akshaya Tritiya, we anticipate a double digi...

Spending on jewelry to grow by 31% Expected to total a record $25 billion! Mother’s Day spending is expected to total a record $25 billion this year, up from $23.1 billion in 2018, according to the annual survey released by the National Retail Federation. A total 84 percent of U.S. adults are expected to celebrate in honor of their mothers and other women in their lives. “Mother’s Day spending has been growing consistently over the past several years, and this year’s spending is expected to be the highest in the 16-year history of our survey,” NRF President and CEO Matthew Shay said. “Consumers are excited to celebrate all the moms in their lives, and retailers are ready to inspire consumers with unique gift options.” While the number of people celebrating Mother’s Day is in line with last year’s 86 percent, those celebrating are expected to spend more at an average $196 compared with $180 in 2018. Consumers ages 35-44 are likely to spend the most at an average $24...