Gross sales up 10% this Akshaya Tritiya

PATNA: The in the state capital had brisk business on Akshaya Tritiya on Wednesday and the city bullion market is expected to have 10% growth in sales compared to last year on the occasion.
“Last year, the market had been slightly affected due to demonetisation. The data that we received through media reports had stated that the overall sales last year had been Rs70 to 80 crore in Patna district. Customers are still buying jewellery and the shops are likely to remain till late evening. We would have the complete estimate of the market only by Thursday,” said Pataliputra Sarafa Sangh’s secretary Binod Kumar.

Pataliputra Sarafa Sangh’s general secretary Shashi Kumar said some customers did experience problems due to the cash crunch and opted to buy something of a lower budget. “But the cash crunch only affected the market slightly. Many had to either arrange cash or opted for card transactions,” Kumar said. He observed a high demand for lightweight jewellery (22 carats) this year. “People are also opting to buy diamond jewellery of light range,” he added.

A branded jewellery store near Fraser Road experienced nearly 25% rise in sales as compared to last year with nearly 800-900 footfalls. Store manager affirmed that people were opting for lightweight jewellery while light range diamonds also fared well on Wednesday.

Shekhar Keshri, jewellery store owner, said he experienced more footfalls as compared to the last two-three months. “People are opting for lightweight jewellery this season,” he said.

“We received 30% more footfalls than last year. Gold is trading at an all-time high. Recent price hikes did not impact sales. Diamond jewellery are also in demand,” Saket Kesari, another jeweller said. However, most customers opted to buy jewellery above Rs2 lakh range as compared to lightweight jewellery.

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