Akshaya Tritiya Buyers See the Bright Side: Q-comm coin deliveries see a hit

Akshaya Tritiya Buyers See the Bright Side: Q-comm coin deliveries see a hit

Kolkata-based industry executives are predicting a 20% year-on-year increase in Akshaya Tritiya sales value due to higher gold prices. The demand for lightweight jewellery, including gold and silver coins, was significant during the auspicious day. Gold was trading at ₹72,633 per 10 gm, a 20% increase compared to the previous year. Quick commerce platforms like Blinkit, Zepto, and Swiggy Instamart also played a role in the surge in demand by delivering gold and silver coins within 10 minutes. Market leaders like Tanishq, Joyalukkas, Senco Gold & Diamonds, and Malabar Gold & Diamonds are also expecting an increase in sales. However, the demand was relatively lower in the eastern markets compared to other parts of the country. Despite some challenges like the ongoing elections and high gold prices, industry executives believe that the pent-up demand in the market will drive sales. The article also mentions the preference for lightweight jewellery and the noticeable demand for necklaces and coins. Southern India, which accounts for more than 40% of India’s annual gold consumption, has shown tremendous interest in the 1 gram and half a gram gold beans. Online platforms experienced brisk sales of 1 gm gold and 10 gm silver coins, with platforms like Instamart, Zepto, and Blinkit partnering with different companies to deliver coins. The surge in coin orders on Instamart was six times higher than on Dhanteras last year. Zepto expects to surpass its total sales from last year’s Diwali. Overall, the article highlights the positive outlook for Akshaya Tritiya sales and the role of lightweight jewellery and quick commerce platforms in meeting customer demands.

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TIS Staff

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