Consumer buying trends witnessed during the on-going wedding season
Author(s): City Air NewsMr.TS Kalyanaraman, Chairman & Managing Director, Kalyan Jewellers. Here is the quote from Kalyan Jewellers on Consumer Buying Trends witnessed during the on-going Wedding Season: “We started on a good note this...
Here is the quote from Kalyan Jewellers on Consumer Buying Trends witnessed during the on-going Wedding Season:
“We started on a good note this financial year, with Akshaya Tritiya helping propel momentum, however during the months of June, July & early August, sharp spike in gold prices caused a sort of slowdown in buying trends. With gold prices almost stabling in the later part of August, we started to see a revival in sales numbers, and during the Dhanteras/Diwali season, we have exceeded expectations by registering double digit growth numbers. Our reading is that the consumer has started accepting these higher prices as the new normal and have resumed wedding or festival purchases.
We are also witnessing a clear shift in consumer demand from unorganized to organized jewellery retail sector. As a brand, Kalyan Jewellers has consistently invested in educational campaigns highlighting our commitment to customers and the benefits of buying from organized jewellers.
While gold is looked at as a great investment, jewellery buying is a tradition that is inevitable to every celebration/occasion and we are expecting the positive trend to continue throughout the wedding season. This wedding season consumer preferences are inclined towards Precious & Gemstone jewellery, Polki, Uncut & diamonds. Another positive trend we are witnessing is in the sale of platinum jewellery – especially the two tone rings, bracelets, cuff links and chains that are part of the menswear line.”
- Mr. T S Kalyanaraman, Chairman & Managing Director, Kalyan Jewellers