National News

Retail Gold Sales Drop 25% Amid Rising Prices, Lightweight Jewelry in Demand

Published

1 year ago

March 20, 2025

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.”

Related Topics:2025 GoldSales nationalnews Retail Gold

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National News

Zithara.AI Partners With Tyaani Jewellery To Enable Smarter Customer Engagement

Collaboration to leverage AI native CRM capabilities for personalised customer interactions and stronger customer relationships

Published

1 hour ago

September 12, 2026

JewelBuzz Spread The Buzz

Zithara.AI, an AI native customer engagement platform for offline retailers, has partnered with Tyaani Jewellery by Karan Johar to strengthen customer engagement through technology and data driven insights across the brand’s retail operations.

Through the partnership, Tyaani Jewellery will leverage Zithara.AI’s AI native CRM platform to bring greater structure to customer engagement and relationship management. The platform will enable the brand to organise customer information, understand engagement patterns, and create a more connected view of customer interactions. The platform will help Tyaani Jewellery strengthen its approach to customer engagement by enabling more structured and data driven interactions with its customers.

The collaboration is aimed at helping Tyaani Jewellery build stronger relationships with customers beyond individual transactions while creating greater opportunities to increase sales and repeat purchases. By using customer insights to identify relevant engagement opportunities, the platform will support the brand in following up with potential customers, re engaging existing customers and delivering more personalized communication based on customer preferences and purchase behaviour. This can help improve customer conversions, strengthen retention and enable retail teams to turn customer data into actionable insights that contribute to increased sales, stronger customer lifetime value and long term revenue growth.

Speaking about the partnership Manraj Singh, Chief Marketing Officer, Tyaani Jewellery said:

“Jewellery is a highly personal category, and the relationship between a brand and its customer extends well beyond a single purchase. As customer expectations evolve, it is important for us to understand their preferences and interactions better and use that understanding to create more meaningful experiences. Our association with Zithara.AI will help us bring greater intelligence and personalisation into our customer engagement, while enabling us to build stronger and more lasting relationships with our customers.”

Varun Kashyap, Co-Founder, Zithara.AI, said:

“Tyaani Jewellery has created a distinctive identity in the contemporary jewellery space, and its approach to engaging with modern consumers makes this partnership particularly meaningful for us. We see a strong opportunity to help the brand make better use of customer data and translate those insights into relevant, timely and personalised engagement. Our platform is designed to help retailers strengthen relationships throughout the customer journey rather than limit engagement to the point of purchase.”

Sridevi Reddy, Co-founder, Zithara.AI, added:

“Customer engagement in jewellery retail is increasingly about understanding the individual behind every transaction. With AI native capabilities, retailers can move from broad based communication towards experiences that are more relevant to customer preferences, behaviour and purchase journeys. Through our partnership with Tyaani Jewellery, we aim to support the brand in creating a more connected and intelligent customer engagement framework at scale.”

The partnership reflects the growing role of AI and customer data in shaping the next phase of jewellery retail, where personalised engagement and long term customer relationships are becoming increasingly important. Through the collaboration, Tyaani Jewellery and Zithara.AI aim to create a more connected and data driven approach to customer engagement that supports stronger relationships and the brand’s continued retail growth.