Expectation From Akshaya Tritiya 2023 – Suvankar Sen

Apr 21, 2023

Suvankar Sen, MD CEO, Senco Gold & Diamonds

“Akshaya Tritiya is considered an auspicious day when people buy gold, valuable metals to bring prosperity and happiness to their homes. This is among one of the biggest jewellery buying festivals in India, during which jewellers generally record higher sales.

Eid, Akshay Tritiya and upcoming summer wedding season are the reasons behind being hopeful for good sales during this period for the jewellers. While high gold price and recent heatwave in west Bengal and other states have impacted the sales during the day time. Throughout the last week we have seen the trend of buying gold and diamond bridal jewellery for upcoming marriages and for a change this year we have witnessed good traffic at our e-commerce and digital gold platform and our digital silver platform.

We found, EMI facility on diamond jewellery and the affordable price of light-weight diamond jewellery are the big reasons behind the demand for it.

Gold prices went up by approximately 20% compared to last year, so far we have witnessed customers preferring ‘wedding jewellery packages’ and using their budgets for everyday wear jewellery. Many people have booked jewellery using our monthly gold scheme and scheduled their delivery on the auspicious day. Demand for coins and bars will remain the same like every year.

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