BHUBANESWAR: Easing of pandemic restrictions and low gold prices made consumers return to jewelery shops on Dhanteras on Tuesday. After nearly two years of sluggish market trends, jewelers were expecting a revival of sales similar to the pre-Covid period.
“Customers are excited this time around. We see the market getting better and it is almost back to pre-pandemic levels with an 80%-90% recovery in sales. We compared this to around 11% to 12 % growth in the last year,” said Mitesh Khimji, Director, Khimji Jewellers.
Jewelery shops in the city have been witnessing rush for the past few days with customers opting for advance booking.
“To avoid the last-minute rush, we booked some designs before Dhanteras and collected the goods on the auspicious day. Prices have also come down compared to last year. Wedding season is near, so it is better to take advantage of it Discounts offered by jewelery shops,” said Priyambada Swain, a customer.
On Tuesday, the price of 10 grams of 24 carat and 22 carat gold in Bhubaneswar was Rs 49,500 and Rs 44,800 respectively. Last year the price of 10 grams of gold was close to Rs 50,000.
“Sales have certainly gone up substantially. Thanks to the government’s timely move to allow businesses to run full-time. Consumer confidence, which crashed after the coronavirus outbreak, over the past few months Has increased in months. Most subscriber vaccinations are done, daily cases and deaths have come down significantly, and the future looks bright again,” said Sunjoy Hans, Founder Chairman, Lalchand Group.
Hans said that even though the rise in the prices of fuel and essential commodities has been a major concern of late, gold prices have also declined by around Rs 3,000 as compared to last year. “Few things like gold as an investment are stable, and customers are making the best use of the current conditions,” Hans said. The market trends in the real-estate and auto-mobile sectors are also looking encouraging.
FacebookTwitterLinkedinE-mail
.