Since mid-April, almost every day had seemed like Akshaya Tritiya for many in the jewellery trade. Even on Saturday, a day ahead of Akshaya Tritiya, thousands of customers thronged T. Nagar, where many jewellery brands have showrooms.
In fact, the surge in sales due to decrease in gold prices has led to shops being unable to source enough jewellery for Tritiya, said L.K.S. Syed Ahamed, chief adviser, Tamil Nadu Jewellers Federation. “We normally stock around 30 – 50 per cent but this year, with the customers buying up almost everything in sight, there is a shortage of supply of jewellery,” Mr. Syed Ahamed added.
N. Ananthapadmanabhan, regional chairman, All-India Gem and Jewellery Trade Federation, said that since the 16 per cent fall in prices, business has been heavy every day. “The trend continues. Earlier, business was brisk only thrice a week,” he said.
Thus, Chennaiites’ custom of buying jewellery for Akshaya Tritiya will only boost prospects. According to G.R. Radhakrishnan, managing director, GRT Jewellers, many customers have selected jewellery so that they can pick it up on Sunday. Akshaya Tritiya thidhi commences at 11 a.m. on Sunday and ends at noon on Monday. Apart from waivers on cost of stones and reducing cost of 22 gram gold, shops are enticing customers with light weight jewellery,” said Mr. Ananthapadmanabhan.
