Gold stores look to Akshaya Tritiya

With a lull in business following 21-day strike, gold shops seem to be more eager about Akshaya Tritiya than customers.

Published: 19th April 2012 12:22 AM  |   Last Updated: 16th May 2012 07:37 PM   |  A+A-

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HYDERABAD: Akha Teej’ or ‘Akshaya Tritiya’ as it is popularly known, is fast approaching and is sure to be a cause of mayhem at jewellery joints all over the city. Various jewellery stores across Hyderabad are gearing up for this year’s ‘Akshaya Tritiya’ by bringing out many attractive offers for the customers. Though the jewellery business has not yet recovered from the standstill due to the 21-day strike against increased excise duty and TDS (Tax Deducted at Source) levied as per the Union budget, stores are expecting greater numbers than last year’s as this is an auspicious day for the people and that Akshaya Tritiya will set the right pitch for the business revival.

Jewellery stores are launching extensive advertising campaign to lure in a wider audience this year. Many stores have gone a step ahead by offering free maintenance and full cash back for jewels bought on that day, with other offers such as a 50 per cent rate block on pre-bookings, one year insurance on ornaments and assured gifts on purchases. Says Naeem, a gold expert at the Malabar Gold and Diamonds store, “There is an increasing demand for diamonds as it is better preferred by the youngsters. Also, many orders for uncut diamonds and platinum ornaments are being placed this season.”  The gold spree has become a trademark of this year, with the commercial aspect booming as never before. The customers seem enthusiastic as ever. One such customer, Rajeshwari, who has been buying jewellery on Akshaya Tritiya for the past eight years, says, “The value of gold will not decrease, so the gold bought this year will sell for a higher price next year, which also helps me buy the latest designs every year.” Gold, which was priced around Rs 22,500 per 10 gms last year has risen significantly by Rs 5,000 this year. A festival that started out as an important day for alms giving has morphed into an auspicious day to buy jewellery as there is a belief that there will be a manifold increase of one’s fortune if aquired on that day. Eitherways, be it for religious faith or shopping, be you a seller or an alms-giver, this is a day for everybody.

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