ICB » Retail » As Lockdown continues, Kalyan Jewellers goes online ahead of Akshay Tritya sale

As Lockdown continues, Kalyan Jewellers goes online ahead of Akshay Tritya sale

“Every year Akshay Tritya marks huge sales for the jewellers as buying gold on this auspicious day is considered prosperous.”

Unfortunately, this year the tradition will experience a halt because of the prevailing situation of the coronavirus pandemic. With the jewellery shops shut as per the government orders, the occasion of Akshay Tritya will neither be same for the retailers nor the customers. While many jewellery retailers cannot do anything about it, seems like the opulent jewellery brand “Kalyan Jeweller” has found a solution. The brand announced to go online for keeping the tradition alive.

“This is the first time in decades we are in a state of lockdown during the Akshaya Tritiya period. This time around, owing to the lock-down, our social media channels are flooded with queries on purchase of gold,” Kalyan Jewellers, CMD, T S Kalyanaraman said.

The officials said that customers can purchase gold starting from 2 grams for the special occasion. A gold ownership certificate will be sent to them on the platform provided by the customer. They also mention that this initiative is a result of the demand from customers. The gold ownership certificate would indicate that the person owns the precious metal with a certain amount. This would mark the completion of the ritual for Akshay Tritiya, which will fall on 26th April 2020 this year. The certificate will be at customers’ disposal on the company’s website starting from 21 April 2020.

“This is the first time in decades we are in a state of lockdown during the Akshaya Tritiya period. This time around, owing to the lock-down, our social media channels are flooded with queries on purchase of gold,” Kalyan Jewellers, CMD, T S Kalyanaraman said.

The jewellers are shocked by the impact of the disease on the jewellery business in the country. India which is the second-largest buyer of gold in the world is witnessing almost zero sales in the category. The lockdown has disrupted the wedding season which is a peak season for jewellery retailers. The stakeholders of the industry comment that, Indians buy yellow metal from their disposable income, which is shrinking because of the lockdown. The deadly coronavirus has created a sense of fear ensuing rational spending among customers. This might hamper the jewellery business in the long term.

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