The jewelers in the state are leaving no stones unturned to lure customers to buy gold on the occasion of Akshaya Tritiya, one of the most auspicious days, by offering incentives.
City based jeweler KD and Sons Pvt limited, that runs the Khimji chain of gold retail outlets across the state, is offering discount upto Rs 1,750 on making charges of gold purchased, upto 20 per cent on purchase of diamonds and 30 per cent on watches.
“Besides offering discounts, we are opening our outlets for extended hours. We are opening our showrooms by 10 o’clock in the morning and closing late during these five days (April22-26),” said Mitesh Khimji, Director of the company.
“The buying sentiment is insipid due to burgeoning hike in the gold prices. The prices have increased by 26 per cent compared to last year. We are expecting this Akshaya Tritiya, falling on April 24, to turn the table,” he added.
Gold price, at present, is hovering around Rs 27,900 per 10 grams compared to Rs 22,000 during the same time last year. The overall sales volume, value remaining the same, is likely to drop by 10-12 per cent compared 2011, Khimji added.
Similarly, city based Lalchand Jewelers is also offering cash discount up to Rs 2,000 on purchase of 10 gram gold, up to 20 per cent and 30 per cent discount on buying diamonds and watches, respectively.
“The consumers are bit conservative in buying gold ornaments. So they are compromising on volume to keep the expenses within the budget,” said Ajit Hans, Director, Lalchand Jewellers.
In fact, the jewelers in the state have been hit by a double whammy as there are no marriage dates in the Oriya calendar (panjika) now. Generally, jewelers look forward to marriage season for brisk business.
It may be noted that Akshaya Tritiya, the third day of the new moon of Vaishakha month (April-May), is considered to be one of the four most auspicious days of the Vedic calendar.