COVID-19: JEWELLERS START OPENING STORES, WITNESS BETTER THAN EXPECTED RESPONSE POST LOCKDOWN

Finally, jewellers have opened shops in few states after relaxation in lockdown. Good turnout of customers was witnessed on the first opening day. Hard hit by the Coronavirus, jewellers feared that it will take long time for the customers to come to shop and buy jewellery.

- Bina Thakur

On the contrary, as soon as the government relaxed the lockdown on May 4 and the jewellery stores reopened, it was nothing less than a surprise to see a few of them actually turning up and making the purchases. Even though no big-ticket purchases were made, it was indeed a glimmer of hope. AOJ’s Bina Thakur reports.

Jewellers have opened shops in few states after taking permission from local authorities. These retailers are doing 20-25 per cent business as people are coming to buy wedding related jewellery as gold prices are going up and also those who had bought gold online during Akshaya Tritiya are also coming to redeem their purchases. From Navarathri onwards business will peak if there is no 2nd wave. Let’s hope for the best.

Anantha Padmanabhan

Managing Director, NAC Jewellers

“Gold jewellery sales are going to see a dynamic change once the lockdown ends. Sales are going to come back, with gold being the preferred choice of asset handed over at a wedding. But, it will take several years to bring back jewellery sales to pre-Covid levels.”

Somasundaram P R

Managing director, World Gold Council (India)

“No one can put an exact timeframe; however, I believe we will be back on track by Q4 October, at the commencement of the festive season. Currently we are in the impact stage which we are working towards sustenance. By the second half of the year, we will be in a stage of revival and slowly move towards recovering business.

Sachin Jain