Big jewellery outlets witness good demand during Diwali festive season

Source: The Hitavada      Date: 23 Oct 2017 09:19:59


Business Bureau,

THIS Diwali season brought smiles on the faces of big jewellery showrooms owners as the demand for gold and silver jewellery witnessed a surge in demand which set the cash registers ringing.

The major jewellery showrooms registered an increase in demand by 10 per cent to 20 per cent compared to the previous year. “There was a glittering rise in demand for jewellery by 10 per cent to 20 per cent compared to the previous year,” said Kishore Seth of Batukbhai Sons Jeweller while talking to The Hitavada on Sunday.

The demand for gold jewellery witnessed good demand at large jewellery showrooms as they are displaying the latest designs and unique designer jewellery collections. People are buying gold and silver jewellery not only for the festive season but also for the upcoming wedding season, he said. Seth said that customers want something new, unique coupled with high quality and Hallmark certification every time they walk into the showroom. Batukbhai is offering high quality stylish bridal collection in traditional and contemporary look. “Customers were appreciating the huge variety of in-house jewellery designs,” he noted.

Also, silver idols and items imported from Italy were attracting customers in large numbers. The silver items are of high quality finish and craftsmanship, he stated. “If you can offer something innovative with high quality people will come, buy and appreciate the products,” he said. The big size dazzling ear rings in colourful designs had become a big craze among the young people, he added.

People with large budgets preferred to buy Jadau jewellery studded with real emerald and ruby, he added.
Pradeep Kothari of Kothari Jewellers said that the overall demand for gold jewellery increased by 20 per cent compared to last year. Due to the new designs and huge stock it had on display attracted customers in large numbers. Elegant designs in south Indian traditional and Temple jewellery were a major attraction among the customers, he pointed out.

Shrikant Bhandarkar of Bhandarkar Jewellers said that both his showrooms were doing roaring business this year. The demand of gold jewellery had shot up by 35 per cent compared to the previous year. A new trend had come up where people were buying gold jewellery for the whole family. Instead of buying one item customers preferred to buy three to four small items within their budgets. Most of the people had budgets ranging from Rs 10,000 to Rs 1 lakh, he added.

Amit Sathe, Partner of Sathe Jewellers, said that his showroom registered a growth in demand of 10 per cent against the previous year. The footfalls suddenly increased after the Government recently announced that it has raised the limit for customers to produce Aadhar card and PAN card from Rs 50,000 to Rs 2 lakh on purchase of jewellery, he said.

The use of debit and credit cards was also on the rise while buying gold and silver ornaments.
Rajesh Khandelwal of Khandelwal Jewellers also said that the demand for jewellery augmented by 15 per cent
compared to last year during the same period.
Kishore Dharashivkar, President of Nagpur Sarafa Association, Itwari said that the demand for gold jewellery had fallen by 30 per cent to 40 per cent at most of the small jewellery shops in the city.