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IIJS virtual is a huge opportunity, so grab all the latest collections you can get your hands on at, Especially any product that cannot be made within a week. We expect very a big shortage of handmade jewellery mid-November onwards.

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Gaurav Anand of Anand Jewels, Indore feels the time is right to invest in handmade jewellery because these will fly off the shelves like hot cakes in the upcoming buying season.

What are your thoughts on the virtual IIJS?

We had been missing it since August. We are so happy to hear that they were back virtually. They have made it very easy and convenient after registration. When we spoke to suppliers after setting up appointments, what we got was undivided attention. We met new parties who we would have never known otherwise. It’s so convenient for us now that everything is under one umbrella.

You have launched a new store, so you must be doing well. What is your advice for retailers at the IIJS?

After the pandemic hit, around August, we started getting a lot of wedding buyers. So, my advice to others is to do a thorough research and survey about what is selling for you. Our sales crossed last years’ figures in September. So, I can tell you that the market is opening. Although everyone is saying that lightweight is the new trend, I find medium-weight wedding jewellery the better selling option.

What should people look for at IIJS, now that there is a shortage of karigars?

In two words: Handmade jewellery. We are expecting a huge demand in our stores in the next few months. I have instructed my purchase team to go to IIJS and first look at handmade jewellery suppliers and lock them in. We will need stocks in November. I will personally be looking at wedding jewellery, polki, diamonds, antique jewellery. Handmade jewellery will not be available in November because of the labour deficit; these pieces take more than a week to be made. There will be so much demand, it will be difficult to procure them in November. As a smart buyer, that is the segment you should hit now. Buy everything handmade immediately, and order machine-made things.

What is your outlook on the sales figures for the next six months? Do you think you will be able to meet last years’ numbers?

I feel organised players will do 25-30% better, and the industry will do 15-20% better as a whole. We should break up all our numbers to judge things. Everything is open now. People want to buy jewellery instead of going for fixed deposits, now that gold prices are up. So, it will only be good for us.

You are one jeweller who is also in the auto business. You think these two industries will come out with flying colours?

The same thing is happening in the automobiles industry. Supply is challenged and the festive season has not hit yet. I foresee a huge pent-up demand. We must be intelligent. For jewellery, hand-made and weddings are the key. IIJS is the opportunity, so grab all you can.

 

Courtesy: Retail Jeweller India News Service.

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