Dhanteras is believed to be one of the most auspicious days to buy precious things according to Hindu scripture. With Dhanteras around the corner, the jewelry industry is cautiously optimistic about the demand and ongoing trends, many small emerging jewelry businesses are struggling in Raipur given the high Gold Rate. In 2023 the jewelry industry also moved from traditional to Western as many celebrities’ wedding jewellery was not plain gold, but rather Western with a variety of different gemstones.
Larger Jewellers are still launching an array of new and trendy designs and special offers exclusively on the occasion of Dhanteras to counterattack the market slump. Nitin Bardia from Anopchand Tilokchand Jewellers Pvt. Ltd. says “We had to revamp our Loyalty Programs and Gold Schemes to ensure we can add more value in our customers’ gold portfolio. Customers in Raipur are now inching towards stone studded jewelry and we had to upgrade our collections”.
With the launch of Black Rhodium and blue sapphire in their Dhanteras collection most major jewelers have dived into a trendsetting frenzy, while prepping up for Dhanteras 2023.
Nitin adds, “Most of the medium-sized outlets in Raipur are following the trend to stay relevant in the highly competitive space of jewelry purchases happening both online and offline”.
“To keep close eyes on the market needs, we closely monitor the designs of Jewelry E-commerce websites,” says another Jeweller whose retail store has lasted in Jaipur for 6 decades now.
This might be a tough year but jewellers are optimistic that the market will bounce back next year.
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