Indian Gold Book:Indian Gold Book - Gold Bars Worldwide

GOLD JEWELLERY CONSUMERS
Among large urban retailers, personal purchases range from 10 - 40% of sales, typically between 10 - 15%. Most report
an increase over the past 5 years, typically by 5%.
Older married women, 30 - 50 years, are reported to account for the bulk. Small items can be self-purchased by working
or unmarried young women, but generally their capacity to spend is regarded as limited. For larger items, most rely on the
support of their parents.
In rural areas, most personal purchases appear to be for “savings” purposes. Many outlets refer spontaneously to only two
categories of transaction: “weddings” and “savings”.
SEASONALITY
Seasonality by State, and within States, can vary greatly, but there are periods when sales are generally
reported as higher: October - January (4 months) and April - May (2 months).
Indicative monthly seasonality, as recorded by leading retailers in 9 States and New Delhi, suggests that in 11 of the
12 months at least one area is enjoying “high” sales.
Apart from factors such as the economy, the prevailing gold price and the marriage seasons, local demand can be influenced
in other ways.
Festivals
Hundreds of festivals around the country provide an incentive to give or buy jewellery.
The most widely celebrated festival is Diwali. It commemorates the Hindu New Year, occurring in October or November.
Jewellery demand is also stimulated by Government departments and companies tending to pay bonuses at this time.
Harvest festivals are also important. For example, Pongal (Tamil Nadu) and Onam (Kerala) in January.
Some retailers include within this category “family festivals” such as the naming ceremony, as well as particularly auspicious
days.
Many retailers promote heavily at the time of festivals. Festival-related purchases range between 10 - 30% of the annual
sales of large showrooms.
Auspicious days
Many consumers are stimulated to buy more jewellery, or to coincide their planned purchases with auspicious days.
The number and dates can vary by State and community, and whether the Hindu lunar or solar calendar is used. Customers
also have their own personal auspicious days.
In Coimbatore, a solar calendar records 13 particularly auspicious days, apart from auspicious wedding days. In Mumbai, a
lunar calendar records 15. There is at least one each month. None of the days coincide.
Some days are regarded as especially important, notably Dhanteras (2 days before Diwali) and usually Akshayatritiya (in May).
Including auspicious wedding days, retailers observe that in total there are around 100 auspicious days each year. There
are also a large number of inauspicious days.
A World Gold Council promotion encouraging the purchase of gold jewellery on the auspicious day of
Akshayatritiya.
AN INTRODUCTION TO THE INDIAN GOLD MARKET 119