Jewellers expect good sales this Dusshera

The festive season has unfolded and India is gearing to celebrate Dusshera today, the 22nd of October. Navratri, a nine-day festival dedicated to goddess Durga, begins the season of celebrations and purchases, Dasshera is the final and 10th day of Navratri. Gold in India is a symbol of prosperity and auspiciousness and is indulged into at this time.

Jewellers are already witnessing an increase in consumer footfall for the festive season. Gold prices have been fluctuating, as there wait and watch situation as to whether US would implement a rate hike. Consumers were holding onto their purchases waiting for prices to further drop, but the US has not increased the rate. Gold prices have been on the upswing, and this has partly prompted consumers to the stores to purchase in anticipation of prices rising further.

The industry expects to see a rise of 5-10 percent in sales at the end of these 10 days of Navratri, even though the economic conditions are not very encouraging.

Jewellers note that consumers are showing a preference for gold jewellery over bras and coins. Lightweight jewellery is a very popular choice this season, and heavy weight jewellery is more indulged by those seeking jewellery for weddings.

Jewellers have begun stocking to meet festive demand and it shot up the gold prices by Rs.80 to reach Rs 27,230 per ten grams, recently. They are luring buyers with discounts and promotions. One such is offering customers gifts in gold coins, silver jewellery. Some have launched contests and lucky draws. The festive spirit has unleashed.