Indore: Gold loses its glitter

It will be a happy Dhanteras for businesses dealing in consumer goods as customers are spending more on them this year. While Sarafa market is expecting business like last year due to increased competition and improper parking facilities, automobile and electronic market are sure about double sales.

The trend seems in sync with fact that people are buying electronic and other goods as their basic needs takes precedence over love for shiny jewels. This is despite the fact that jewellery stores are throwing in major discounts and luring customers to make traditional purchase on auspicious day of Dhanteras.

Talking about sale of jewellery, president of MP Sarafa Association Hukam Soni said, “Sales are average with similar footfalls and we are hoping to maintain last year’s business figures.” Sarafa did business of Rs 15 crore last year.  “We would hope for an increase in business but it is less likely because customers are unable to make their way in crowd and cannot park their cars here,” Soni said.

Discussing trending jewellery, Soni said, “The most trending style in traditional jewellery is ‘Jadau’ from Jaipur and modern designs followed in Mumbai.” He added that Italian jewellery is trending among youngsters due to its unique designs.

TVs, refrigerators, laptops see 15% sale increase
Electronics market is experiencing better sales this year as people have already booked their appliances for delivery on Dhanteras. “Being a day off before Dhanteras, many people walked in our stores and booked their new laptops and appliances on Sunday,” electronic store owner Gaurav Pahwa said.

The sales jumped because of major cash back offers. “Overall, the market is likely to see 15 percent increase in sale on Dhanteras,” Pahwa said. LED television (smart TVs), refrigerators and laptops are the highest selling items in malls and electronics stores.

Rs 2 crore trade at Bartan Bazaar
As large number of customers reached market on Sunday as Bartan Bazaar made half their expected sale. “On an average, the market did business of Rs 50 lakh to Rs 1 crore on Sunday, which is more likely to repeat on Dhanteras on Monday,” Surendra Mehta, president of Indore Bartan Nirmata Vikreta Sangh said. “Market is good this year and our decoration helped us in attracting customers,” Mehta said.

Two-wheeler sale to drop by 10%
While car sales may double, two-wheeler sales are dropping. Two-wheeler showrooms expect 10 percent less business than last year. Talking about market condition, owner of a dealership Gaurav Airen said, “Market is down due to doubled insurance price and Dhanteras sales won’t even match last year’s figures.”

Car sales to double
When it comes to automobiles, cars are up for sale and customers are willing to buy. Cars in every range have pre-bookings for Dhanteras. Every dealer is hoping to break his previous record and enhance sale with their luring offers.  Sharing the market scenario, chief executive officer Tanveer Khan at a dealership firm said, “At our establishment, we sold 100 cars last year. We will definitely cross 200 on Dhanteras this year.”

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