Slump in sales of jewellery in the occasion of akshya thrutiya:

The Akshaya Tritiya is the aspiration of the average Indian to buy even the most brushed gold, even jewellery traders have high hopes for sales on this festive year every year. But this year too, the Corona price tag has dampened traders' hopes. This is the second year in a row that Akshaya Tertiary sales have been disappointing. Industry sources said that many local lockdowns announced due to the second boom this year are going to be a major hindrance to sales while last year also saw a severe impact on the corona epidemic. They are angry that the actual shops will not be able to open next Friday on the occasion of Akshaya Tertiary Day due to a shortage of cash in their shops. Ashish Peethe, chairman of the All India Diamond Jewellery Trade Council, said that lockdowns were already in place in 90 per cent of the states and jewellery retail stores would have to be locked or exempted.

He said there would have been, but not allowing any other deliveries this year except for one essential would have further crippled themselves. He said the postponement of weddings and the fact that wedding purchases were to take place before some lockdown was a matter of some concern. Saurabh Gaddil, Managing Director, PN Jewelers, and Ramesh Kalyanman, Executive Director, Kalyan Jewelers, were among those who said the Akshaya Tertiary business would be disappointing this year. Kalyana Mann said that of the 150 showrooms across the country, only 10 and 15 are likely to open. He expressed hope that the situation would improve in 3 or 4 weeks. Ketan Kothari, director of Augment, a precious jewellery trading platform, said that in the current climate, families are giving high priority to the health and well-being of their blood relatives and are not currently considering buying gold. 10 grams of gold fell by 20 per cent to Rs 48,000 from a record high of Rs 58,000 in August last year. Businesses fell by half to 70 percent in the last year, according to Soma Sundaram, Managing Director, World Gold Council. All in all this year Akshaya is going to shed tears for the tertiary traders.

Along with this, the corona epidemic has also had an impact on e-commerce deliveries. Customers have to wait for about 7 days for deliveries. The industry executive says it has become very difficult to balance both heavy order processing and staff safety. Already several companies have prominently posted on their websites the note that deliveries may be delayed due to corona strict restrictions. The Big Basket app in particular makes this clear at the time of ordering. Amazon Fresh service, which says it can deliver orders in 2 hours, is also taking a day to deliver goods in Delhi.