<p>Bengaluru: This year’s Akshaya Tritiya, traditionally seen as an auspicious time for gold purchases, saw a mixed response across jewellery showrooms in the city, with normal but cautious consumer buying patterns observed.</p><p>According to Ramanujam, senior manager at GRT Jewellers, there was an estimated 20 per cent to 30 per cent drop in sales compared to the previous year.</p><p>“High gold prices kept many customers cautious,” he said.</p><p>However, a manager at Joy Alukkas reported a more optimistic picture. “We witnessed a 20 per cent increase in sales this Akshaya Tritiya,” she said.</p><p>Other stores also saw a jump in walk-ins on Wednesday.</p><p>While seemingly adapting to annual price changes, customers have also modified their buying patterns.</p><p>One such customer, Natraj, said, “I bought gold to keep up with the tradition of Akshaya Tritiya, but I had to cut down on the quantity due to the high rates.” Another customer, Radha, said she had been saving money to buy gold coins and reduced the number of coins she bought, hoping they would be a good investment.</p>.India sees brisk gold buying on Akshaya Tritiya despite price surge, industry sees 35% value jump. <p>GV Sreedhar, former chairman of the All India Gems and Jewellery Domestic Council and mentor of the Jewellers Association, Bengaluru, explained that while customers are cautious, they are engaging in smart buying, including exchanging old jewellery for new items and purchasing about 20 per cent to 30 per cent additional gold as an investment.</p><p>C Vinod Hayagriv, MD and Director, C Krishniah Chetty Group of Jewellers, explained that gold rates have increased by 34 per cent this year compared to last year. “I have noticed the sales from 9 am (on Wednesday). Footfall this year is higher than it was last year. There was a good flow this year and our revenue is about 20 per cent higher than last year,” he said. He noted that while market volatility will continue, they plan to monitor product performance and revisit their strategy in three months.</p><p><strong>Survey findings</strong> </p><p>A LocalCircles survey on gold hallmarking showed that 71 per cent of 3,181 respondents said the gold they bought in the past 12 months was hallmarked. Sixty-seven per cent of 2,891 respondents said their trust in the gold-buying process had increased.</p><p>“Everyone understands the importance of hallmarking. The HUID (hallmark unique ID) has also improved transparency. Customers can now easily identify the purity and quality of the gold they are buying,” said Sreedhar.</p>
<p>Bengaluru: This year’s Akshaya Tritiya, traditionally seen as an auspicious time for gold purchases, saw a mixed response across jewellery showrooms in the city, with normal but cautious consumer buying patterns observed.</p><p>According to Ramanujam, senior manager at GRT Jewellers, there was an estimated 20 per cent to 30 per cent drop in sales compared to the previous year.</p><p>“High gold prices kept many customers cautious,” he said.</p><p>However, a manager at Joy Alukkas reported a more optimistic picture. “We witnessed a 20 per cent increase in sales this Akshaya Tritiya,” she said.</p><p>Other stores also saw a jump in walk-ins on Wednesday.</p><p>While seemingly adapting to annual price changes, customers have also modified their buying patterns.</p><p>One such customer, Natraj, said, “I bought gold to keep up with the tradition of Akshaya Tritiya, but I had to cut down on the quantity due to the high rates.” Another customer, Radha, said she had been saving money to buy gold coins and reduced the number of coins she bought, hoping they would be a good investment.</p>.India sees brisk gold buying on Akshaya Tritiya despite price surge, industry sees 35% value jump. <p>GV Sreedhar, former chairman of the All India Gems and Jewellery Domestic Council and mentor of the Jewellers Association, Bengaluru, explained that while customers are cautious, they are engaging in smart buying, including exchanging old jewellery for new items and purchasing about 20 per cent to 30 per cent additional gold as an investment.</p><p>C Vinod Hayagriv, MD and Director, C Krishniah Chetty Group of Jewellers, explained that gold rates have increased by 34 per cent this year compared to last year. “I have noticed the sales from 9 am (on Wednesday). Footfall this year is higher than it was last year. There was a good flow this year and our revenue is about 20 per cent higher than last year,” he said. He noted that while market volatility will continue, they plan to monitor product performance and revisit their strategy in three months.</p><p><strong>Survey findings</strong> </p><p>A LocalCircles survey on gold hallmarking showed that 71 per cent of 3,181 respondents said the gold they bought in the past 12 months was hallmarked. Sixty-seven per cent of 2,891 respondents said their trust in the gold-buying process had increased.</p><p>“Everyone understands the importance of hallmarking. The HUID (hallmark unique ID) has also improved transparency. Customers can now easily identify the purity and quality of the gold they are buying,” said Sreedhar.</p>