25 per cent rise in jewellery sales expected this Akshay Tritiya

This year, however, the retailers feel that the continued weak gold prices may push the sales this year. Also, mandatory PAN card details for purchases above Rs. 1 lakh will be effective from 1 June, 2015 and hence, Akshaya Tritiya sales might not be affected by it. Also, there may be rise in sales of gold coins instead of gold jewellery as jewellery becomes expensive due to making and other charges involved, say analysts.

“We definitely expect an uptrend in jewellery sales this Akshay Trithya as there has been a fall in the price of gold in recent months. This season always sees a demand for gold. One should also not ignore the trending up of diamond jewellery with the pre-booking schemes doing well at our stores this year. On the whole we are quite bullish about sales on this day,” said Rajeev Sheth, Chairman Managing Director, Tara Jewels.

Even Anmol Jewellers is expecting surge in the business on the eve of Akshay Tritiya. Ishu Datwani, Director, Anmol Jewellers said, “The sales graph is on an uptrend. Business has definitely improved in the last couple of months and since there are weddings in May, we do expect sales to increase by 20-25 per cent this year on Akshaya Tritiya.”

On the occasion of Akshay Tritiya, Rajiv Popley, Director, Popley Group said, “There is a growth of 20 per cent as compared to the last year. With the market being better than last year we expect the sales to increase because we have got customer bookings which happened in advance, we are seeing optimistic booking happening already for the festival.”

As has been trend, gold is expected to rule the roost. However, there is demand for combination of gold and diamonds said Hardik Kapoor, Founder, Jewelsify.com. As buyers are particular about designs and weight of the jewellery, there is demand for light weight diamond jewellery, said Anand Kulthia, Director, Kulthiaa Jewel.

As far as regions are concerned, Suvankar Sen, Executive Director, Senco Gold and Diamonds Ltd said, “ We expect good sales response from Eastern part of India. Customers from cities like Delhi gave us very good response last year . So definitely for this year too we expect even better sales as we have opened new outlets in Delhi, Lucknow and planning to open more in Southern area. As per the current Gold price we expect 5-7 per cent increase in our sales this year.”

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