Jewellers are expecting a rise of 30- 35 per cent on the gold buying day of Akshaya Tritya on Monday in view of continued weakness in the yellow metal.
Akshaya Tritya, a day in the Hindu calendar is considered auspicious for buying the precious metal. “We are expecting 30- 35 per cent increase in sales on Akshaya Tritya,” Chairman and Managing Director Mehul Choksi told The Pioneer.
“The firm is giving a 15 per cent discount on most of its brands, including Gili, Sangini and Asmi to provide some relief to consumers,” he informed.
MMTC, India’s largest gold and silver supplier, is aiming to more than double its gold and silver jewellery sales to Rs30 crore during its five-day exhibition organised in the Capital.
“Due to significant fall in gold prices, we expect total sales during Akshaya Tritiya festival to touch Rs30 crore, said “ MMTC General Manager Precious Metal Division Ashwini Kapoor.
The PSU had seen a sale of Rs14 crore during the gold sale festival organised during last year festival, he added.
To cash in on the auspicious day demand, jewellers across the country are offering discounts on branded jewellery and making charges and have tied up with banks to offer EMI facility on credit card payments.
Jewellers in Mumbai say they will open their shops and showrooms even if the strike on a local tax issue continues that day.
The country’s largest jewellery retail chain Tanishq, part of Titan Industries, hopes to lure customers by offering a free gold coin on purchase of Titan Nebula watches in 18- karat gold. The offer is valid in select stores across the country.
Delhi-based Tribhovandas Bhimji Zaveri is offering 50 per cent discount on making charges on all jewellery on May 13. Online Jewellers – are also- hoping for brisk business on the festival day.
Websites like 21Diamonds have special offers - buy a 20 gram gold coin and get a 10 gram lakshmi silver coin, gift box, ladies watch, key chain and a pen free. Or, buy an 8 or 10 gram gold coin and get a five gram lakshmi silver coin, gift box, ladies watch, key chain and a pen free. There are many such promotional offers to lure customers across online platforms.