Gem and Jewellery (GJ) industry and trade charted the post Dhanteras, the day where buyer brought gold & jewellery in a single day! In the row Saiyam Mehra, Chairman GJC said, “The Dhanteras was very auspicious for the gems and jewellery industry.
Sales of almost 25 tonnes of Gold was witnessed with an estimated revenue of 25000 crores which includes silver, lab grown, Diamonds, Gem stones. GJC’s initiative India Jeweller Shopping Festival (IJSF) has also helped in generating higher demand with the jeweller this year.
This also shows India’s love for Gold and with such good response, we as an industry are confident to play a bigger role in development of the nation.”
On the other hand, ex-Chairman GJEPC, Colin Shah of Kama Jewelry stared on performance of yellow metal during Dhanteras 2023. He said, “Dhanteras this year has added more sheen to the yellow metal as the sales of gold jewellery witnessed a rise of 15–25% during the day, surpassing two-day from last year.
Traditionally, gold coins and gold jewellery remained a preferred choice among buyers. However, owing to the shift in consumer mindset, diamond and platinum jewellery were majorly preferred by the young buyers, who purchased jewellery for the purpose of consumption.
It was also observed that a considerable chunk of the buyers opted to buy online. Fuelled by the strengthened purchasing power due to the rise in income levels, major volumes of low-ticket-size purchases contributed to the overall festive sales, with strong demand coming in from Tier 2 cities along with metros.
Overall, this festive season has seen the strongest performance, and we foresee this trend to breach new levels in the years to come.”