CHENNAI: Touted because the auspicious day to buy gold, Akshaya Tritiya this 12 months introduced 30% upper footfall. Jewellers added that low prices and improved sentiment amongst people are propelling sales in comparison to a tepid response final 12 months.
Gold price has declined from Rs three,100 this January to Rs 2,992 (according to gm). "There have been pre-bookings too. So, customers are making their purchase without any hassles," mentioned Jayantilal Challani, MD, Challani Jewellers.
The auspicious day final 12 months noticed a tepid response from consumers in the back of corruption and shutting down of bijou chains. This 12 months, then again, customers have regained self assurance in the business.
"Last year, I had just made a token purchase on a coin and earrings, fearing which shop would fold next. Today, I have purchased double last year's quantity," mentioned Subashini S. Jewellery chains expect to witness footfalls till nighttime on Tuesday.
Large chains also noticed a double-digit enlargement and a 15% build up in ticket sizes. They added that this development is promising regardless of the continued Lok Sabha elections. Sandeep Kulhalli, senior VP - retail & advertising, Tanishq, mentioned "On this Akshaya Tritiya, we are seeing a healthy double-digit growth as compared to last year."
"In metros, we are seeing an increase in the number of young first-time buyers making token purchases," added TS Kalyanaraman, CMD, Kalyan Jewellers.
Even as retail outlets witnessed larger footfall, virtual gold - which involves buying gold from smartphone and other on-line platforms - was also seeing a jump. Augmont, a precious steel control corporate, noticed a 5x rise in comparison to common buying development. Industry analysts added even at a nascent degree, acquire of virtual gold has noticed a jump.
Gold price has declined from Rs three,100 this January to Rs 2,992 (according to gm). "There have been pre-bookings too. So, customers are making their purchase without any hassles," mentioned Jayantilal Challani, MD, Challani Jewellers.
The auspicious day final 12 months noticed a tepid response from consumers in the back of corruption and shutting down of bijou chains. This 12 months, then again, customers have regained self assurance in the business.
"Last year, I had just made a token purchase on a coin and earrings, fearing which shop would fold next. Today, I have purchased double last year's quantity," mentioned Subashini S. Jewellery chains expect to witness footfalls till nighttime on Tuesday.
Large chains also noticed a double-digit enlargement and a 15% build up in ticket sizes. They added that this development is promising regardless of the continued Lok Sabha elections. Sandeep Kulhalli, senior VP - retail & advertising, Tanishq, mentioned "On this Akshaya Tritiya, we are seeing a healthy double-digit growth as compared to last year."
"In metros, we are seeing an increase in the number of young first-time buyers making token purchases," added TS Kalyanaraman, CMD, Kalyan Jewellers.
Even as retail outlets witnessed larger footfall, virtual gold - which involves buying gold from smartphone and other on-line platforms - was also seeing a jump. Augmont, a precious steel control corporate, noticed a 5x rise in comparison to common buying development. Industry analysts added even at a nascent degree, acquire of virtual gold has noticed a jump.
Akshaya Tritiya: 30% rise in footfalls for jewellers
![Akshaya Tritiya: 30% rise in footfalls for jewellers]()
Reviewed by Kailash
on
May 09, 2019
Rating:
