Jewellery business eyes lost sheen with festive sales in Lucknow | The Lucknow First
LUCKNOW: After suffering huge losses due to Covid-19, city jewellers are hopeful of revival of business on Dhanteras and Diwali with projected earnings of over Rs 15 crore.
Markets are abuzz as customers are thronging jewellery stores for festival purchase. Despite high rates, gold is likely be in demand as buying it is considered auspicious on Dhanteras. Besides usual gold bars and coins, the wedding season has also added sheen to jewellery business.
President of Lucknow Sarrafa Association Adesh Jain said the market is expected to clock over Rs 15 crore business this Diwali. “In terms of volume, there might be a 20% decrease as compared to last year but we are expecting good response. Business of around Rs 10 crore has been done so far,” he added.
Last year, business during festival season was around Rs 24 crore.
“There has been a considerable rise in footfall and sales since Navratri. As most of the weddings scheduled in March and April were postponed and resumed in October, heavy gold jewellery is being purchased,” said Tanya Rastogi, owner of a jewellery store. “We have also received bookings for lightweight jewellery which will pick up on Dhanteras,” said Shashi Singh of a jewellery store in Alambagh.