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Akshaya Tritiya begins on sombre note; jewellers expect 10-15% sales

Akshaya Tritiya, a highly auspicious day to purchase gold, has started on a sombre note and jewellers are expecting only 10-15 per cent sales as the onset of the COVID-19 second wave, local restrictions and partial lockdowns have affected consumer sentiment.
As most of the states are under lockdown to curb the infections there is almost no business activity. The day of Akshaya Tritiya has begun on a slow note and whatever booking or enquiries are happening it is only through tele or digital medium, All-India Gems & Jewellery Domestic Council (GJC) chairman Ashish Pethe told PTI.
He said, jewellers are expecting only 10-15 per cent sales this Akshaya Tritiya in places where the lockdown is not imposed or there are partial shutdowns. ....

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Akshaya Tritiya lacks lustre; jewellers expect 10-15% sales due to COVID-19 second wave

Akshaya Tritiya lacks lustre; jewellers expect 10-15% sales due to COVID-19 second wave
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Jewellers see just 10% of pre-Covid sales as lockdown hits sentiment

For the second straight year, the gems and jewellery industry is set for almost a washout of business on Akshaya Tritiya as only about 10 per cent of pre-COVID sales of 2019 are expected on Friday amid the raging pandemic sapping footfalls and purchasing power of people.
In a normal year, the industry does business of 25-30 tonnes on Akshaya Tritiya, but this year, it expects a maximum of 3-4 tonnes of sales as offline sales have been badly impacted. Some organised players like Kalyan Jewellers did online bookings of gold which will be physically delivered later.
The second wave of the pandemic is turning out to be much worse than last year with huge loss of life across the country. This has created an overall negative consumer sentiment, All-India Gems & Jewellery Domestic Council (GJC) chairman Ashish Pethe told PTI. ....

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