Discounts raining this festive season on jewellery sales

Unusual to the common practices, jewellers are offering massive discounts on making charges on precious ornaments this festive season to attract customers and increase sales to cover up the loss they had incurred over the last one year due to government's stringent measures on curbing black money. While organised players like Tribhovandas Bhimji Zaveri (TBZ) is offering upto 50% discount on making charges on gold and diamond ornaments, industry leader Tanishq, the famous jewellery brand from the house of Tata’s, is offering upto 10% discount on diamond studded gold jewellery.  Commodity Trading Tips

Interestingly, such an offer was never heard during wedding and festival season as consumers are considered to buy jewellery under compulsion either to gift to their relatives on the occasion of wedding or any other such needs. Discounts are offered normally during the lean season to lure customers to purchase jewellery to boost sales.“The trend of discount in jewellery during the wedding and festival seasons started in 2016 as jewellers wanted to recover a part of the business they lost during the 42-day strike in protest of excise levy. Earlier, such a discount was never offered during the festival and wedding season. Jewellers, however, are continuing with last year’s trend with an increase in discount percentage to boost sales this wedding season,” said Vijay Jain, Managing Director, Orra, a popular brand in gold and diamond jewellery. Nifty TradinTips