Auspicious Timing Fuels Diamond Jewellery Sales as Akshaya Tritiya Approaches

People traditionally view Akshaya Tritiya purchases of gold and diamonds as investments blessed with prosperity, making it a prime sales season for jewellers

By TBT Web Desk On May 8, 2024

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SURAT, GUJARAT : Akshaya Tritiya, a Hindu festival considered an auspicious day for new beginnings, is just around the corner. As always, this time period coincides with a surge in demand for gold and diamond jewellery across India. People traditionally view Akshaya Tritiya purchases as investments blessed with prosperity, making it a prime sales season for jewellers.

This year, the anticipation is particularly high. The upcoming festival falls conveniently within the summer wedding season, further boosting consumer interest. “With Akshaya Tritiya coinciding with the summer wedding season, we anticipate good demand for jewellery,” says Amit Pratihari, vice-president of De Beers Forevermark. “Diamonds are most sought after due to their inherent preciousness.”

Pratihari highlights a shift in consumer behaviour beyond just auspicious timing. “This demand is also influenced by a shift in consumer buying pattern, as individuals are increasingly drawn to purchase items that hold significance and value.”

This translates into a growing trend for everyday jewellery. “An interesting trend this season is the rising demand for everyday jewellery characterized by its minimalist, lightweight, and ethically sourced nature,” Pratihari observes. This reflects a desire for jewellery that seamlessly integrates into daily life, offering a touch of luxury without ostentation.

Diamonds themselves are experiencing a specific preference. “There is also a growing demand among consumers for high quality solitaire diamonds,” Pratihari adds. Solitaires, featuring a single, meticulously cut diamond, offer timeless elegance and enduring value.

Looking ahead, industry experts are optimistic. “We anticipate a positive sales outcome this Akshaya Tritiya,” said Vipul Shah, chairman of Gems and Jewellery Export Promotion Council (GJEPC). The confluence of auspicious timing, the wedding season, and evolving consumer preferences points towards a vibrant sales period for the jewellery industry.