The Rs 235-per-gram drop for 22-carat gold attracted first-time buyers in non-metro markets, prompting double-digit revenue growth for major jewellers. Shoppers frequently opted for lightweight pieces, 9-carat varieties, and coins purchased through offline stores and quick-commerce channels. Vehicle manufacturers also saw heavy delivery volumes, with Maruti Suzuki, Tata Motors, and Hyundai moving tens of thousands of units as electronics sales remained brisk.
Key points
Festive consumer demand extended beyond retail jewellery to drive robust delivery volumes…: Festive consumer demand extended beyond retail jewellery to drive robust delivery volumes across India's automotive and electronics sectors.
Quick-commerce channels and e-commerce platforms captured a significant portion of precio…: Quick-commerce channels and e-commerce platforms captured a significant portion of precious coin purchases during the festival.
High automotive demand pushed manufacturers to full capacity and reduced dealership inven…: High automotive demand pushed manufacturers to full capacity and reduced dealership inventory levels to near zero for popular SUVs.
Sources checked by our analysis pipeline: 1
NEW DELHI: A dip in gold prices drew shoppers to jewellery stores on Dhanteras on Friday. Carmakers lined up thousands of festive deliveries, while televisions led demand at an electronics retailer.
Senco Gold & Diamonds reported sales growth of more than 25% by value, with footfall up 10-12% from last year, CEO Suvankar Sen said.
Kalyan Jewellers said its price for 22-carat gold fell Rs 235 a gram from Thursday to Rs 13,150 on Friday. Executive director Ramesh Kalyanaraman said footfall picked up, with shoppers favouring lighter pendants, bangles and chains, as well as smaller gold and silver coins. The chain saw more first-time buyers in cities such as Jaipur, Dehradun and Raipur.
"The dip in gold prices helped to boost demand, as many buyers who were waiting for a correction stepped in," said Paul Alukkas, managing director of Jos Alukkas.
In Delhi's Madangir jewellery market, Ramavtar Soni, director of Prabhu Dayal & Sons Jewellers, said demand for gold and silver coins has risen, with shoppers buying them as symbols of prosperity on Dhanteras. Rama Krishna Jewellers added that the…
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