The festive season every year begins with Navratri. During the months of October, November and December, leading up to January, there are several festivals and celebrations in different forms in all parts of the country. Diwali is one of the most celebrated festivals, which in recent times, has crossed over religious and territorial barriers and is observed with great pomp and gaiety throughout the country.
Dhanteras is the first day that marks the festival of Diwali in India and the festival of Tihar in Nepal. Dhanteras is celebrated on the thirteenth lunar day of Krishna Paksha in the Vikram Samvat Hindu calendar in the month of Karthik.
In India, wealth is still associated with gold and it is not only considered auspicious to buy gold, say during Akshaya Tritiya, but also for festivals like Diwali, Christmas and during Pongal in the south of India. In recent times, gold prices have been fluctuating so much that there is a hesitancy in buying, or, postponing the buying till the last moment, in the hope that the prices will come down.
According to Abhay S. Mehta, Mehta Jewellery, Chennai, “Fluctuation in gold prices is not a new thing. In fact, it only indicates that something is happening in the economy. Therefore, we take fluctuations in our stride and encourage customers to invest and buy what looks beautiful on them - as early as they can - before the festival. Price is a big factor, and we look at newer ways of promoting gold at any given time. Currently our focus is on traditional jewellery. Customers today expect reliability and quality. Customers enjoy a good sales experience and aspire to buy gold from reliable sources. The current trends in the market favour traditional designs. The younger generation is also taking to traditional designs. India’s traditional taste will only keep evolving.” With a legacy of over 101 years and counting, the jewellery brand has built a glowing reputation and is one of the most preferred destinations for jewellery shopping in Chennai.
According to the World Gold Council, “Gold is a precious metal. It has emotional, cultural and financial value and different people across the globe buy gold for different reasons, often influenced by a range of national socio-cultural factors, local market conditions and wider macro-economic drivers.”
Prince Jewellery which was started by Princeson Jose in 1983 and has established a name in the industry for its contemporary designs in lightweight gold as well as antique jewellery. Every festive season, Prince Jewellery reinvents itself with new strategies, innovative marketing, promotions and fresh designs. According to Joseph Prince who hails from the family that owns this jewellery line, “We strive to give a good shopping experience to our customers. Making our staff aware of the trends in the jewellery industry and orienting them to the latest techniques in selling is given due importance. As the adage goes, take care of your staff and they will take care of the customers. Besides, Prince Jewellery has a robust advertising campaign throughout the year.”
With heavily fluctuating gold prices, how does Prince Jewellery promote sales during the festive season? Prince stated, “It’s the beginning of the biggest festive season in our country, and it also coincides with the wedding season. We will be introducing the bridal wear - the Muhurtham collection. The Muhurtham collection will be available in gold and diamond jewellery. Also on the cards is the launch of a lightweight collection in chains and bangles. The season will see the launch of our new range in Tia which is the gifting range in diamond jewellery. There is also increasing acceptance for Kundan style jewellery worn during sangeet and among bridesmaids. Customers love to experiment and are willing to push boundaries when it comes dressing for special occasions. Pairing Kundan necklace sets with diamond bangles and wearing Indian antique jewellery on the wedding day are few of the emerging trends. Increasing acceptance of work-wear jewellery and for lightweight collections during parties are also emerging as prominent trends.”