<p>Gold jewellery retailers in City are gearing up for the upcoming Sankranthi festival with many special offers. Sankranthi — the festival of harvest — is considered the beginning of an auspicious phase in Indian culture. <br /><br /></p>.<p>Joyalukkas is offering equal weight of silver against gold purchase besides 20 per cent discount on all uncut diamond jewellery. Tanishq is running diamond campaign in January where, customers get a flat 20 per cent off on diamond jewellery worth over Rs 2 lakh.<br /><br />Low making charges<br /><br />Malabar Gold, another large jeweller, is offering chains and bangles with lower making charges starting from 6 per cent in Tamil Nadu, Karnataka and Andhra Pradesh and customers can avail a bonus of Rs 40 per gram on exchange of gold in the State. Jewellers expect that their offers will result in higher sales at a time when high prices of gold is a challenge. Malabar, for example, had targeted a growth of 50 per cent and achieved sales growth of 30-35 per cent compared to last year, said Malabar Group of Companies Chairman M P Ahammed. Joyalukkas is expecting a marginal increase of 6-7 per cent in sales growth.<br /><br />“As prices are high, middle and lower middleclass customers cannot buy gold due to their budgetary restrictions. Retailers should increase their market share to overcome the reduction in sale volume by offering sops,” Ahammed added.<br /><br />Tanishq Marketing Head Bhuwan Gaurav endorses the same: “Gold rate has been fluctuating. For some consumers it does affect the values that they intend to purchase. At times these consumers tend to postpone the purchase. But there are many who don’t look at the gold rate trend while deciding on a purchase. If they like the design or there is a function in the family they buy jewellery.”<br /><br />Bhima Jewellers Chief Manager Srinivas says: “We see a lot of customers wanting to buy gold, but the quantity purchased has come down drastically by 30 per cent. We aim to achieve 10 to 15 per cent growth in sales of annual turnover.”</p>
<p>Gold jewellery retailers in City are gearing up for the upcoming Sankranthi festival with many special offers. Sankranthi — the festival of harvest — is considered the beginning of an auspicious phase in Indian culture. <br /><br /></p>.<p>Joyalukkas is offering equal weight of silver against gold purchase besides 20 per cent discount on all uncut diamond jewellery. Tanishq is running diamond campaign in January where, customers get a flat 20 per cent off on diamond jewellery worth over Rs 2 lakh.<br /><br />Low making charges<br /><br />Malabar Gold, another large jeweller, is offering chains and bangles with lower making charges starting from 6 per cent in Tamil Nadu, Karnataka and Andhra Pradesh and customers can avail a bonus of Rs 40 per gram on exchange of gold in the State. Jewellers expect that their offers will result in higher sales at a time when high prices of gold is a challenge. Malabar, for example, had targeted a growth of 50 per cent and achieved sales growth of 30-35 per cent compared to last year, said Malabar Group of Companies Chairman M P Ahammed. Joyalukkas is expecting a marginal increase of 6-7 per cent in sales growth.<br /><br />“As prices are high, middle and lower middleclass customers cannot buy gold due to their budgetary restrictions. Retailers should increase their market share to overcome the reduction in sale volume by offering sops,” Ahammed added.<br /><br />Tanishq Marketing Head Bhuwan Gaurav endorses the same: “Gold rate has been fluctuating. For some consumers it does affect the values that they intend to purchase. At times these consumers tend to postpone the purchase. But there are many who don’t look at the gold rate trend while deciding on a purchase. If they like the design or there is a function in the family they buy jewellery.”<br /><br />Bhima Jewellers Chief Manager Srinivas says: “We see a lot of customers wanting to buy gold, but the quantity purchased has come down drastically by 30 per cent. We aim to achieve 10 to 15 per cent growth in sales of annual turnover.”</p>
