Festive boost: Gold sales jump more than 50%
"Gold prices have moderated compared to last year. We are observing good traction in terms of buyers & volume growth," said Ajoy Chawla, CEO, Tanishq.
All big jewellery houses registered a surge in demand due to low gold prices. In fact it has turned out to be the best-selling season in three-four years. Big houses have witnessed a jump between 40 percent and 50 percent in terms of sale of gold jewellery. Some also witnessed more than 55 percent rise. Eastern India’s big houses such as P C Chandra and Senco Gold’s sales rose nothing less than 40 percent compared to the past couple of years.
“This year we have seen a very good jump in sales in the past 6-7 days. You can say the figures were at least 40%-45% more what we sold in 2020 or even 2019. The market is really good,” said Subhra Chandra of PC Chandra Jewellers.
Optimistic
Tanishq, Kalyan Jewellers and others also confirmed that the market was good during the festival of Dhanteras and Diwali. They also hope for a good year ahead.
“Gold prices have moderated as compared to last year. We are observing good traction in terms of buyers and volume growth. We have witnessed an all-round growth this festive season,” said Ajoy Chawla, CEO, Tanishq.
“On Dhanteras, we registered higher footfalls both from existing as well as new customers, resulting in robust revenue growth. While the sales momentum in the plain gold segment continued, we also witnessed a significant increase in the studded jewellery category,” said Ramesh Kalyanaraman, ED, Kalyan Jewellers.
Small cities and light ornaments
Chawla also confirmed small cities are also coming up rapidly. “Tier 3/4 cities have done well and there has been good demand for diamond jewellery also. There were many more customers buying on this Dhanteras as compared to last year. There is a good demand for lightweight, wearable jewellery apart from wedding jewellery,” Chawla added.