E-retailers expect a boost in gold sales on Akshaya Tritiya

The Dollar Business Bureau

E-retailers are betting big time on Akshaya Tritiya, the auspicious day for buying precious metals. Retailers like Bluestone and Amazon are expecting a boost in their gold and diamond jewellery on this special day.

Amazon Fashion Category leader Mayank Shivam said that they are seeing a six- time growth in the sales on their offerings on Akshaya Tritiya compared to last year. Talking about the website traffic he said that they have grown 100 times compared to the previous year.

He also added that the demand is more for the 22 carat gold, especially for necklaces and plain gold chains.

This demand is apart from the bullion sale of gold which is under the top-selling category at this time.

Arvind Singhai, COO, Blue stone.com also had similar views. He said that the business is seeing a positive growth for the last two years and a six-time growth is expected during this time of the year, compared to the previous year. He added that during this year they expect high demand for gold coins, earrings and diamond pendants. 

He also added that the volatility of the gold prices has not slowed down the demand for precious metals. However, he pointed out the high prices will affect the volume of the metals, but ensured that the value for the same would grow.

Vipin Nair, Vice President of Caratlane.com said that they are expecting good sales for the current year. He added that they are expecting good demand for both gold and diamond jewellery.