Gold retailers have expanded a number of offers and discounts to alleviate the increased gold rate. | Photo Credit: File Photos
Sudha Eeshwar, a school teacher, will not buy gold for akshaya tritiya, which will drop 30 April this year. “I will probably buy it later when prices fall.”
Given that the price of gold was hit by a new maximum, many as Mrs. Eeshwar decide to skip the purchase of yellow metal this time of year, when it is considered to be favorable to buy gold. On the other hand, the jewelers leave no stone to attract customers despite the sharp steep gold price.
Gold retailers have expanded a number of offers and discounts to alleviate the increased gold rate. “Akshaya tritiya is a reasonable day. People buy gold to welcome the goddess Lakshmi to their house and for prosperity. So retail stores make a great preparation in anticipation of high gold prices,” said Chetan Kumar Mehta, President Ibja and President Jewinelers’ Association of Bengalur).
Discounts and gifts
Abaran, jewelry house, offered a 500 GBP discount on each gram of gold. “It is a small contribution on our occasion for customers. 500 GBP is a big amount- if you add it for 200 GM gold, it will be a big difference,” said Sudhindra, manager of MG Road branch.
“Gold has increased even more due to trade wars in the US and China. Nowadays, gold is the best investment. More than the automotive industry or stock market, gold is more profitable. Therefore, everyone wants to invest,” Sharavana, President of Karnataka Jewelers Association Association of Karnataka and MD Shree Sai Place. “For Akshaya Tritiya, we try to offer customers to customers due to a high rate of gold. If a 50,000 GBP gold is purchased, customers will receive idol for free. The idol was blessed in the RAM in Ayodya,” he added.
Despite these incentives, customers are still worried about. “You saw rates? They’re so tall! It’s worth 1 lakh for 10 GMS. I’m not buying this year,” Kamakshi Bansal revealed in the home.
Preferences for light jewelry
The retailers also expressed awareness of the shift in the purchase samples. “Sales or sales turnover have increased, but the volume of sales remained the same. It is because customers’ budgets remained the same. Their budgets did not increase according to gold rate,” said Pratap Kamath, ABARAN CEO.
Similarly, Antony Chirayath, CEO of Josco Jewelers, watched and noted that despite the consistency of several customers, the amount of gold sold has decreased. “It’s because people prefer to buy light jewelry.”
Several sellers throughout the city have increased the production and marketing of light jewelry, as its demand increased for price increases. Mr. Chirayath said: “We watched the preference of the purchase of light jewelry over the last two years. 18 have increased 18 sales of gold jewelry.”
Impact on small businesses
Mr. Sharavana stressed that while the main gold retailers had a permanent customer base, the increase in prices strongly influenced smaller businesses in the gold industry. “If there is no emergency situation, buyers are still looking for big names when it comes to buying gold, which puts further pressure on small sellers that flow the neighborhood,” he said.
Vijay Davanam, CEO of Davanam Jewelers, Kamaj Road, said they could not use any marketing strategies to attract customers. “Our customers have completely abandoned,” he said, mentioning that in the days leading to the festival they plan to issue limited offers for light jewelry.
Published – April 26, 2025 21:25
