Retail Chronicle Issue 6 (1 - 15 November)

05
Traders were really happy with almost 20%
more trade happened in a long time line. You
pick big brands like Tanishq, TBZ, Kalyan or
local family jewelers; everybody had a strategic
plan ahead of them to lure in the customers to
make this sale a big hit for them. The global
economy is going through a peculiar phase of
anemic growth and much of the developed
world is sinking into the negative interest rate
territory. As such, gold would certainly be one
of the preferred asset classes for investors.
Most of the companies have made special
arrangements at showrooms including food
counters, sales staff in ethnic wear and pandits
to perform on-the-spot puja. Demand is likely
to remain strong even post Diwali with
marriage season setting in, top officials from
companies such as Maruti Suzuki, Hyundai, LG
and gold retailer Gold Souk. Softening of
prices has led to higher purchase of gold,
retailers said. Gold’s price was at around Rs
32,000 per 10gm about two months back,
which is now down to Rs 30,000. We have seen
a near 15% growth in buying this Dhanteras.
Brisk buying was taking place in case of gold
and silver coins, Lakshmi-Ganesh idols and
sovereign gold bonds.
Traders are becoming more giving as well
like Surat diamond tycoon Savji Dholakia, is
once again giving away hundreds of cars and
flats to his employees as a bonus for
meeting company targets. Dholakia, who
runs a diamond export firm in Surat,
announced his company will give 1,260 cars,
400 flats and pieces of jewellery to his
employees on diwali. These kinds of
strategies do lure in brand equity for
merchants.
This season lit up fairly well for all, and may
diwali showers upon more every year, as it is
a win -win for all.
So happy shopping and happy DIWALI