KARNATAKA

Jewellers capitalise on public sentiment

Special Correspondent



As a concept, Akshaya Tritiya caught the imagination of the people only in recent years



MYSORE: Braving the scorching sun, women made a dash to the nearest jewellery shop in the city with their men reluctantly trotting behind with an eye on their wallets.

Reason — it was Akshaya Tritiya, reckoned to be not only auspicious, but carries with it a deep-rooted belief that gold purchased on this day assures hefty returns and prosperity.

Belief

A belief that has been driven home by suave promoters — be the banks selling gold coins or even petty jewellers who stock their shops with small coins ranging from one gm to 10 gm for the occasional customer carried away by the belief.

As a concept, Akshaya Tritiya caught the imagination of the people only in recent years and the marketing overdrive about the imminent benefits and assured returns on the purchase of the noble metal have worked well.

In a city that has about 900 shops, it was a boom time, never mind the escalating cost of gold in the bullion market. But the jewellers were not complaining and had a field day registering good turnover.

A majority of the customers had booked their items and Thursday was the delivery day.

To meet the rush, the shops are working overtime and many of them closed late on Wednesday night.

The branded showrooms remained open from the early hours of the day till Thursday night.

Among the banks, the ICICI Bank capitalised on the public sentiment to invest in bullion and marketed gold coins, while nationalised banks too followed suit in recent times.

Debate

A few may debate whether purchases on Akshaya Tritiya herald prosperity for the customers.

But it is true for goldsmiths and jewellers.

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