Page 28 - Bullion World Volume 03 Issue 5 may 2023

Bullion World | Volume 3 | Issue 5 | May 2023

Jewellery Sales and Consumer buying

Behavior: A Study of Akshaya Tritiya

Season in India

Mr Shubham Kumar, Eventell Global Advisory Private Limited

Akshaya Tritiya, a festival celebrated How were the sales during this Akshaya Tritiya season?
annually in India, is considered as an 100 responses
auspicious occasion to buy gold. The
festival, which falls on the third day
of the Hindu month of Vaisakha, is Excellent
believed to bring prosperity and good
fortune to those who buy gold on this Good
day. In recent years, the Akshaya Average
Tritiya festival has become a significant Poor
event for the Indian gold industry, with
jewellers and retailers offering special
discounts and promotions to attract
customers leading to a significant
increase in demand for gold. This year,
despite the surge in gold price, the How do you compare with last year's sales?
demand for gold jewellery remained 100 responses
good.

Bullion World conducted an online 25% more than last year
survey of 100 jewellery retailers pan
India to gather insights on consumer 10% more than last year
buying trends during this year's Similar
Akshaya Tritiya and to analyze the
impact of gold prices and other market 10% less than last year
factors on the industry. Here are our 25% less than last year
findings.

Preference for Lightweight and Lower Caratage Jewellery

Which segments were the most preferred among?
100 responses
According to jewellers, there was
a significant shift in consumer
preference towards lightweight and
lower-caratage jewellery this year.
When asked about the preferred
segment, 70% of jewellers reported
that rings, earrings and chains
were the most popular, followed by
pendants and bangles.

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