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RJ Market Watch

People have out their faith in gold jewellery



How do you see the market from Navratri onwards?

During Dussera the business was around 70% of what it was last year. Right now the customers are towards more bridal jewellery. Even the retailers are asking for bridal necklaces because the small events like mehendi and sangeet are not happening. But we are very positive because Covid-19 cases are going down and there is a positive environment around. People have also retained their trust in gold and thus investing in gold. People have purchased gold as jewellery as well as for prosperity reasons. I think we will reach 100% levels after Navrati because the majority of the weddings are going to be held in November, December and January which goes on till March. So till March what I am thinking is that there will be amazing customers who will come and buy. Generally, at this time of the year in Ahmedabad and also in other parts of India, we used to get NRI customers but due to the travel bans, the NRI clientele will be very less this year. But this is something which will affect after March. So, before March, I think it is a good time for the jewellers and wholesalers who are stocking up their inventory because they have seen good demand. So, till March 2021, things are going to pick up.

Have you launched any new collections for the festive and wedding season?

We are coming up with more antique gold jewellery for our customers because the sentiments are not great for diamonds. So, we have launched a new collection called Rivaaz where we are showcasing more antique gold jewellery with a combination of jartar and jadau and mozanite stones as well as some fancy colour stones. With the antique gold, customers also want enamel finish to be it firoza enamel, ivory enamel is doing very good. The demand for such items is more from the Delhi and North Indian market.

What is the weight range which is moving fast in the collection?

The weight ranges from 90-120 grams which are really picking up. Proper bridal necklaces from 180-220 grams are also doing good.

Which are the markets where you are focussing?

We are focussing more on Maharashtra, Madhya Pradesh, Rajasthan and Delhi.

How do you see the market till 2021 as compared to last year?

I think it will reach around 80% of the last year. Marriages are a money rotating factor across the country and with other expenses on marriages are limited, people will invest more money in buying gold jewellery.

Courtesy: Retail Jeweller India News Service.

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