National News
Retail Gold Sales Drop 25% Amid Rising Prices, Lightweight Jewelry in Demand
A 4% rise in gold prices in March has led to a significant 25% decline in retail gold sales at jewelers and a 60% drop in Zaveri Bazaar. Indian families with upcoming weddings are feeling the pinch of higher gold prices, turning to lighter, lower-carat jewelry to meet bridal jewelry demands. Despite this, demand is expected to pick up during Akshay Tritiya in April, though lightweight jewelry remains the preferred choice.
Gold prices saw a near-4% increase in the first half of March, bringing down retail sales by 25% compared to the same period last year. Zaveri Bazaar, a hub where retail jewellers buy bullion and jewelry in bulk, saw a 60% drop in sales.
Senco Gold & Diamonds, Joy Alukkas, PNG Jewellers, Mamraj Musaddilal Jewellers, and senior executives from the India Bullion & Jewellers Association mentioned that Indian families, especially those with weddings planned for the upcoming season, are stressed by the escalating prices. As a result, they are opting for lightweight jewelry, as high prices make it difficult to stick to the traditional gold jewelry budgets.

Suvankar Sen, the chief of Senco Gold, shared that sales of small-ticket gold jewelry in the ₹30,000 – ₹40,000 price range have dried up. “The high prices are keeping customers away from spending on gold,” he said. On March 18, gold was priced at ₹88,256 per 10 gm in the physical market, with a 3% Goods and Services Tax (GST), pushing the cost to ₹90,903 per 10 gm.
“Those who have weddings in the family are buying lightweight jewellery as they cannot stretch the budget. Demand has dropped by 15% beginning from March and if this rally continues, the recovery in demand may not happen. The next big sales can only happen during Akshay Tritiya, which falls on April 30,” said the MD of Senco Gold & Diamond.
Despite the rise in prices, the demand has remained sluggish in South India too. “Compared to last March, demand is down by up to 25%. While the high price is a big factor in this demand drop, other things like board exams have slowed down demand as well,” said Baby George, CEO of Joy Alukkas.
Saurabh Gadgil, chairman of PNG Jewellers, also highlighted the shift in preferences. “People are buying lightweight jewellery, and many are exchanging old gold jewellery with new ones. The volumes are getting impacted but value-wise the jewellers are not facing any issue.”


Avinash Gupta, partner at Hyderabad-based Mamraj Musaddilal Jewellers, noted that while demand has softened, it hasn’t reached alarming levels. “Demand will bounce back in April due to weddings and Akshaya Tritiya, but definitely the preference will shift to lightweight and lower caratage jewellery.”
National News
Zithara.AI Partners With Palmonas To Strengthen AI Led Revenue Growth and Customer Engagement In Jewellery Retail
Collaboration To Enable Personalised Customer Engagement, Improve Retention, and Support Scalable Revenue Growth Through AI Native CRM
Zithara.AI, an AI-native customer engagement platform for offline retailers, announced a strategic partnership with Palmonas to enhance customer engagement through data-driven solutions across the brand’s retail operations.
As part of the partnership, Palmonas will implement Zithara.AI’s AI-native CRM platform to unify customer data across multiple touchpoints, enabling a single, consolidated view of customer interactions. The platform will support intelligent customer segmentation, automated engagement workflows, and personalised communication designed to improve customer retention and increase repeat purchases. The deployment is aimed at creating a more structured and consistent approach to customer engagement as the brand continues to scale.
The integration will allow Palmonas to capture and analyse customer data across online and offline touchpoints, enabling targeted campaigns, timely follow-ups, and more relevant communication across the customer lifecycle. By helping bridge the gap between digital customer enquiries and physical store visits, the platform will support improved customer conversions, strengthen retention, and enable more effective customer journeys that contribute to revenue growth.
Speaking about the partnership, Hitesh Magoo, CMO, Demifine Fashion Pvt. Ltd., said,

“At Palmonas, our focus has always been on creating meaningful customer experiences while expanding our retail presence. As more customers discover brands through digital channels, one of the biggest opportunities for offline retailers is converting that interest into store walk-ins and lasting customer relationships. We were looking for a platform that could intelligently manage customer engagement across multiple stores while helping us improve walk-in conversions and long-term customer retention. Zithara.AI’s AI-native platform aligns with these objectives by enabling more personalised customer interactions that support stronger conversions, increased store walk-ins, and sustainable revenue growth. We look forward to leveraging its capabilities to build deeper customer relationships as we continue to scale our retail footprint.”
Varun Kashyap, Co-Founder, Zithara.AI, said,
“We are pleased to partner with Palmonas as they continue to expand their retail presence. Our platform is built to help brands organise and leverage their customer data to drive structured, consistent, and personalised engagement. This partnership reflects the growing focus among offline retailers on using technology to strengthen customer relationships and improve retention.”

Sridevi Reddy, Co-Founder, Zithara.AI, added,

“Our focus is on enabling offline retailers to become more data-driven and customer-centric. Through this partnership, we aim to help Palmonas build stronger customer connections and deliver more personalised experiences at scale.”
The partnership marks a continued focus by Zithara.AI and Palmonas on leveraging AI-native capabilities to strengthen customer engagement and support revenue growth in offline retail environments. By integrating Zithara.AI’s platform, Palmonas aims to build a more connected, efficient and scalable customer engagement framework aligned with its growth plans.
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