Jewellery brands have a field day this Diwali
A change in policy last week has brought consumers back to retail showrooms, giving branded players a leg-up
Brands are said to be stocking up for Dhanteras, which falls on Tuesday (October 17) in anticipation of record sales this year.
Trends this year, say experts, also point to the preference for affordable gold and diamond-studded jewellery as consumers across the board aspire to look good. This comes as brands make their presence felt across media from print to television, digital and outdoor.
“Diamond is considered an alternative to gold for investment. Affordable diamond-studded gold jewellery is high in demand this festive season,”says Mehul Choksi, managing director, Gitanjali Gems, producer and retailer of brands such as Nakshatra, Sangini and Asmi.
Jewellers such as TBZ and Om, on the other hand, are offering discounts on making charges of up to 100 per cent for diamond jewellery and up to 55 per cent for gold jewellery to lure consumers.
India’s largest branded jewellery maker Tanishq, meanwhile, sees consumers opting for bangles, necklace and earring sets this Diwali, prompting heavy discounts and offers in these product segments, experts said.
“Demand for gold jewellery has been steady so far this season, which is a good sign. While gold jewellery remains the favourite of customers, diamond jewellery is also seeing good traction. In my view, it is a healthy mix of demand for gold and diamond jewellery,” Sandeep Kulhalli, vice president (retail & marketing), Tanishq, says.
Online jewellers too are leaving no stone unturned in their endeavour to make good the period, offering everything from innovative designs and unique craftsmanship to free-home deliveries on assured purchases. Players such as Bluestone and Caratlane, a subsidiary of Titan, are already seeing three times more traffic on their websites this festive season, sector experts said.
Apart from this, online players are also focusing hard on the gifting market this year, positioning themselves as ideal platforms for the same. The idea, they say, is to strike while the iron is hot and take advantage of the boom.