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Expect 10-30% increase in sales during Akshay Tritiya: Jewellers

Jewellers said that the sales graph is on an uptrend and the consumer buying sentiment has been good since Gudi Padwa.

, ET Bureau|
Apr 18, 2019, 01.10 PM IST
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Jewellery
However, some like Vaibhav Saraf, director, Aisshpra Gems & Jewels expects a nominal growth in sales during Akshay Tritiya as the movement of goods and sales are both being hampered by the model code of conduct.
Jewellers are expecting an increase of 10% -30% in sales this Akshay Tritiya, which falls on May 7, in comparison to last year. They said that the sales graph is on an uptrend and the consumer buying sentiment has been good since Gudi Padwa. There has been a good demand for small and big-ticket items especially in diamond jewellery.

"We are anticipating a good demand this Akshay Tritiya with an expected increase of 5-10% in sales this year. As the gold prices have increased, we feel it will reinstate the consumer’s faith into the category. Gold Earrings, Necklaces and Bangles in light weight contemporary settings will continue to be the bestsellers," said Aditya Pethe, director, WHP Jewellers which has showrooms in Maharashtra, Goa and Indore.

Added Ishu Datwani, founder, ANMOL "We would be concluding our 33rd Anniversary sale on Akshaya Tritiya & would be offering great deals on diamond and gold jewellery which will give an additional boost to Akshaya Tritiya sales. We are expecting 25-30% increase in sales this year on Akshaya Tritiya as compared to last year."

Jewellers are expecting good demand from rural India this Akshay Tritiya. Tanya Rastogi, director, Lala Jugal Kishore Jewellers said "We are

expecting a good Akshaya Tritiya especially from the rural sector which account for a sizeable percentage of sales. The welfare schemes targeted by government for the farmers ahead of elections boosts the rural income which they tend to convert to gold. We also have a good wedding season this summer so we are expecting a strong Akshaya Tritiya"

However, some like Vaibhav Saraf, director, Aisshpra Gems & Jewels expects a nominal growth in sales during Akshay Tritiya as the movement of goods and sales are both being hampered by the model code of conduct. "We are expecting major conversions from gold to diamond jewellery," he added.
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