With the post-budget drama in the jewellery industry behind them, jewellers are looking forward to step up sales during Akshya Tritya.

While the agitations in the industry against tax hikes upset the market and brought down sales, jewellers see Akshya Tritya as an opportunity to make up for the loss in sales. Akshya Tritya, which falls on April 24, is believed to be an auspicious day among Indians to buy gold.

“People had stopped going to the market during the strike, and consumers were holding back funds,” Mr Sandeep Kulhalli, VP, Retail and Marketing, Tanishq told Business Line . “Jewellery is not like other sectors where people will divert finds, so we expect good growth in sales now,” he added.

Mr Vinod Hayagriv, Managing Director, C. Krishniah Chetty & Sons (CKC), also said that since sales were slow and shops were shut, consumers now have more to choose from.

Adding to this, gold and diamond prices have been reasonably stable this year compared with previous years. “We are seeing stability we never had, so this time it would be good,” Mr Hayagriv said. Usually, prices shoot up ahead of the festival season, but this time prices have been stable, he said.

Companies are also coming up with offers to further attract consumers. CKC for instance, has brought in its jewellery designers to the stores to help consumers redesign heirloom and heritage pieces. “The festival happens to be in April, the month of the Diamond, so there are simultaneous offers for gold and diamonds,” Mr Hayagriv said.

“April 24 also happens to be World Secretary's Day, so the store has a range of small products that bosses can gift to their secretaries,” he added.

Tanishq also has come out with offers such as free 0.25-gm 22 carat gold coin on a purchase of certain pieces of gold and diamond jewellery. “The response to our offers has also been good and we are seeing good growth,” Mr Kulhalli said.

>sushma.un@thehindu.co.in

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