Dhanteras, a silver lining | Calcutta News



Kolkata: Life is not perfect, but jewelry can be. It has the power to make you feel unique and there is always room for a little more. No wonder the city’s jewelers large and small are banking on Dhanteras – Krishna Paksha’s thirteenth lunar day when buying gold and silver is considered auspicious – to reverse the lull in business. induced by the pandemic. Lucrative offers, along with special festive collections, have been lined up to boost in-store footfall as well as online shopping as November 2 approaches.
If industry insiders are to be believed, the rush to buy jewelry on Dhanteras began in Calcutta only a decade ago. “Back then, most people were buying silver. Over the next two years, demand slowly shifted towards gold. And now many also buy diamonds. The rush starts a week in advance. Customers book early, fearing an increase in the price of silver, gold or diamonds on Dhanteras Day. Some even buy wedding ornaments because of the discounts offered, ”said Samar Kumar De, partner of Guinea Emporium, which has been a retailer, wholesaler and exporter of 22k gold jewelry since 1982.
Ajoy Chawla, CEO of Titan Company’s jewelry division, Tanishq, said they are seeing “a positive boost” in consumer mood this holiday season. “People are looking to celebrate even small milestones. The pent-up demand, the general festive spirit, and wedding shopping all converge to create an increase in the categories of gold and diamonds. We believe this will continue beyond Dhanteras and Diwali, ”he said.
Tanishq’s Diwali Deal includes up to 20% off the cost of making gold and diamond jewelry. “Our festive collection ‘Utsaah’ presents silhouettes reinvented with a modern style and traditional patterns in geometric shapes. Inspired by patterns of Indian craftsmanship, this collection is aimed at women who seek modernity and versatility and who have a keen sense of design, ”added Chawla.
De, who is also the current chairman of the Swarna Shilpa Bachao committee and the COA of All India Gem & Jewelery Domestic Council, said the jewelry industry was picking up steam for the first time since the lockdown crisis last year. . “Business is up 25% from 2020. Buyers are mainly focused on gold jewelry; there is also some demand for the diamond. This holiday season, we look forward to regaining lost market share, ”he said.
A legacy of more than eight decades, Senco Gold & Diamonds says its online sales are heading north. “Mydigigold.com – the platform for the phygital gold trade where the yellow metal is stored on behalf of buyers and is redeemable for any purchase in the future – is generating interest. Customers benefit from low prices as the platform allows them to convert their virtual purchase into physical gold at our outlets across the country. In addition, they can also sell gold using the portal, ”CEO Suvankar Sen said.
PC Chandra Jewelers is optimistic that the mass vaccination campaign and increased public awareness of Covid-19 will help the jewelry industry do this Dhanteras better than last year. “Many people now want to invest in gold. In 2020, the industry had seen low sales due to uncertainty over vaccine rollout, in addition to the cancellation of weddings, sporadic blockages, low client attendance, declining production, delayed deliveries, reduced manpower and limited operating hours for offline stores. “said Suvro Chandra, deputy general manager of the leading jewelry house founded in 1939.
Despite the downturn, PC Chandra’s online business has grown. “The pandemic has dramatically changed consumer behavior; a lot of people shop online. These purchases, however, include products in the price range of Rs 6,000 to Rs 25,000. The value of jewelry purchased by people offline is much higher, ”added Chandra.
Partha Roy of JK Roy Jewelers believes their festive sales will remain “more or less the same” compared to last year. “Most purchases continue to be in the light gold jewelry category. We look forward to Dhanteras and hope there will be a pleasant surprise in terms of sales. Our turnover had decreased by 50% after the Covid epidemic. We hope to make a slow and steady recovery, ”he said.

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