Akshaya Tritiya brings 30% increase in footsteps for jewelers

CHENNAI: Touted As The Promising Day To Buy Gold, Akshaya Tritiya This Year Brought 30% More Visitors. Jewelers Added That Low Prices And Improved Sentiment Among People Drive Sales In Comparison With A Lukewarm Response Last Year.

Gold Price Has Been Declined From Rs 3,100 This January To Rs 2,992 (per Gm)." There Have Been Pre-bookings Too. So, Customers Are Making Their Purchase Without Any Hassles," Said Jayantilal Challani, MD, Challani Jewelers.

The Auspicious Day Last Year Saw A Tepid Response From Customers At The Back Of Corruption And Shutting Down Jewelery Chains. This Year, However, Consumers Have Regained Confidence In The Industry.

" 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," Said Subashini S. Jewelery Chains Expect To Witness Footfalls Until Midnight On Tuesday.

Large Chains Also Saw Double Digit Growth And A 15% Increase In Ticket Sizes. She Added That This Trend Is Promising, Despite The Ongoing Lok Sabha Elections . Sandeep Kulhalli, Senior VP - Retail & Marketing, Tanishq , Said" On This Akshaya Tritiya, We Are Seeing A Healthy Double-digit Growth As Compared To Last Year."

" In Subways, We See An Increase In The Number Of Young Starters Making Token Purchases," Adds TS Kalyanaraman, CMD. Kalyan Jewelers .

Even When Shops Saw More Pedestrians, Digital Gold - which entails purchasing gold from smartphone and other online platforms - was also seeing a jump. Augmont, a precious metal management company, saw a 5x rise compared to regular buying pattern. Industry analysts added even at a nascent stage, purchase of Digital Gold has seen a jump .