In this jewellery manufacturing hub, Akshaya Tritiya has become an annual occasion that sees the launch of new jewellery designs, and gold products. Jewellers gear up for the day, study the customer responses and stock jewellery accordingly.
Customers consider it as the auspicious day of the year to buy gold and hence, sales go up manifold. Earlier, it used to be just purchase of a gold coin or small jewellery. However, now, several customers make huge investments in jewellery on Akshaya Tritiya, which falls on May 6 this year.
Many jewellery shops here have started taking advance booking of jewellery for delivery on the Akshaya Tritiya Day. Shops are kept open for longer hours, special counters are formed for sale of specific jewellery, and some even send out mails to their customers about the new designs for the year.
Kishore G. Paramasivan, Chief Operating Officer of Kirtilal Kalidas, says antique designs and light weight jewellery are some of the most preferred purchases. Buyers like light weight jewellery as they can purchase more. Among gold coins, the preference is for four and eight gram coins. According to D. Badrinath of Kota Jewellers, several jewellery outlets launch new products. May and June are the best months for purchase of jewellery every year. Jewellery purchase on Akshaya Tritiya has now caught on even in foreign countries, especially in West Asia, as several Indians live in these countries.
D.R. Raghunath of DAR Paradise says gold prices have shot up this year. Last year it was about Rs. 1,500 a gram and now it is Rs. 2,100 per gram. Though sale of jewellery overtook that of coins during the last two years, high prices can lead to sale of more gold coins this year.
In Coimbatore, customers prefer to buy gold chains. Antique designs are in good demand. Customer awareness has gone up and jewellers are expecting good business, he adds.