As lights of Diwali start shining on the G & J business, retailers will be having a busy season ahead and will be able to see their past losses converting into profits.
Diwali is the time for celebration in Indian families living across the world. Apart from being a festival of light, it is also the festival of worshiping wealth. Most business houses and individuals too splurge during this festival – exchanging gifts is a long-standing tradition. How will this Covid-induced Diwali prove to be? Will it adorn the same festive look? Will gold and jewellery buying be as usual? All of these questions are on top of the minds of most business owners.
Blending modernity with tradition, most Indian households buy gold during Diwali. Beginning on Dhanteras, which is considered an auspicious day to buy gold and worshipping wealth during Laxmi Pujan, this festival brings joy and showers prosperity on all Indian families.
Be cautiously optimistic this Diwali
According to Anil Kataria of D P Jewellers, MP, “This Diwali sales will be very good, possibly better than the earlier one.” During the lockdown people haven’t been able to step out of their houses for many months, they haven’t spent a lot of money on casual shopping, vacations and entertainment, so there is a good amount of money that they have been able to save. “Now, as they get an opportunity to buy, they are looking forward to invest it in gold, because they know it will give them good returns,” explains Kataria.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
LEGENDARY PHILANTHROPIST SULTAN SINGH BACKLIWAL PASSES AWAY
Late Sultan Singh Backliwal was a revered figure, renowned scholar, businessman and philanthropist -- the extent of his benevolence continues to inspire many
BRETT LEE INAUGURATES MALABAR GOLD & DIAMONDS SHOWROOM IN SYDNEY
Malabar Gold & Diamonds, ranked as the sixth largest jewellery retailer globally, has opened its latest showroom in Sydney, Australia - with this, the company has marked a presence in 13 countries.
PLATINUM EVARA EMBRACES THE SPIRIT OF THE WOMEN'S PREMIER LEAGUE
The rise of women’s cricket in our country has been nothing short of inspirational and it offers the perfect platform for Platinum Evara, platinum jewellery aimed at the young woman segment.
GARGI BY PNGS EXPANDS ITS REACH WITH SECOND FRANCHISE OUTLET IN NASHIK
Gargi by P N Gadgil & Sons (PNGS), the prominent publicly listed fashion jewellery brand, has launched its second franchise outlet in Nashik.
KISNA DIAMOND AND GOLD JEWELLERY UNVEILS EXCLUSIVE SHOWROOM IN AGARTALA
KISNA Diamond and Gold Jewellery, a leading name in the exquisite jewellery industry, celebrated the grand opening of its first-ever exclusive franchise showroom in Agartala, Tripura recently.
KHIMJI JEWELLERS UNVEILS NEW WEDDING CAMPAIGN "NO COMPROMISE!"
Khimji Jewellers, Odisha’s favourite jewellery brand renowned for its rich legacy of 88 years in crafting exquisite jewellery, has announced the launch of its latest bridal jewellery campaign, “No Compromise!”
GOLD REFINING PRESENTS SIGNIFICANT OPPORTUNITY IN INDIA: IFSCA CHAIRMAN
K Rajaraman, Chairperson of the International Financial Services Centres Authority (IFSCA), has advocated for the establishment of gold refining facilities within India, citing its significant position as a major global purchaser of the precious metal.
UNION BUDGET 2024: GEM AND JEWELLERY INDUSTRY CONCERNS NOT ADDRESSED
In her final outing before the polls, Finance Minister Nirmala Sitharaman presented a budget which held no major surprises.
BROADLY SPEAKING WHY I KEEP LAB-GROWN DIAMONDS AS A SEPARATE CATEGORY IN MY STORE
Lab-grown diamonds, a much sought-after product in the US, are increasingly finding greater acceptance in India as well. Retailers are benefitting from stocking both natural and grown-diamond jewellery, as it enables them to cater to different categories of customers under one roof, and address ethical concerns, finds out Suneeta Kaul in a conversation with AVR Siddhanth of AVR Swarna Mahal
SENCO GOLD & DIAMONDS CRAFTS IMPACTFUL CAMPAIGNS
Senco Gold & Diamond skillfully crafts impactful campaigns that touch the hearts of customers living in different regions of the country, finds out Priyanka Talreja Garegrat in a conversation with Joita Sen, the Design Head of the company