Gold’s 20% correction revives jewellery footfall, but organised volumes may still fall 13–15%
Wedding and festive buying is lifting store traffic after Adhik Maas, with Swastik Jewels reporting footfall at 75–80% of normal. But elevated gold prices are pushing shoppers toward lighter purchases and old-gold exchanges, which now account for up to 70% of jewellery sales.
India’s jewellery retailers report a post-Adhik Maas footfall recovery, supported by wedding and festive buying, but high gold prices and import duties continue to constrain affordability. Crisil expects organised-sector sales volumes to decline 13-15% this fiscal despite stronger old-gold exchange activity.
Why this matters
The traffic recovery follows signals of old-gold swaps rising up to 60% YoY and a prior fortnight when gold demand fell 70% after a duty hike. For Joyalukkas, more visits may not translate into volume growth as buyers choose lighter pieces and exchanges.
Footfall is steady, with 562 signals in 90 days; no QoQ percentage was provided.