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<div type="image" title="Save yourself the trouble of buying physical gold this Diwali, and instead, go digital with Gold ETFs!" height="900" width="1200" msid="114507055" hostid="261" sizebytes="439216" caption="&amp;lt;p&amp;gt;Save yourself the trouble of buying physical gold this Diwali, and instead, go digital with Gold ETFs!&amp;lt;/p&amp;gt;"></div> Ah, <keyword id="18712" type="General" weightage="20" keywordseo="Gold" source="Orion">gold</keyword>! The shiny metal that's been making humans lose their minds since time immemorial. And yet, from <keyword id="23657519" type="General" weightage="20" keywordseo="king-midas" source="keywords">King Midas</keyword> to our neighbourhood aunty and even our moms (and secretly dads), everyone seems to have a super soft spot for the <keyword id="6384667" type="General" weightage="20" keywordseo="Bullion" source="Orion">bullion</keyword>. But here's the kicker: right now, gold prices are breaking all records on their upward trajectory! As of today, prices of 24k carat gold have passed the Rs 80,000 mark per 10 grams. And if experts are to be believed, this train isn't stopping anytime soon! So, as shiny as gold might look, adding even a bit of its glitter as we start decking up for the festive season might not be so easy on your pockets. But let's admit it—we love our gold and can't live without it. No wonder India is the second-largest consumer of the yellow metal in the world, only behind China. Such is our fondness for the metal that the <keyword id="20195223" type="General" weightage="20" keywordseo="world-gold-council" source="keywords">World Gold Council</keyword> had to up our 2024 annual demand forecast to 850 tonnes, up from the previously estimated 750 tonnes. However, our love for gold isn't just about looking fabulously embellished and blinding people with its bling. Indians also see gold as a long-term, trusty investment, supporting our other hard-earned assets, especially when high <keyword id="22195" type="General" weightage="20" keywordseo="Inflation" source="Orion">inflation</keyword> rates pull our returns down. After all, while inflationary pressures generally weaken the purchasing power of our regular paper money, gold is built differently. When the world is buckling to inflation, gold gains value during these times. This is also why it is considered a solid hedge against inflation. With <keyword id="188" type="General" weightage="20" keywordseo="Diwali" source="Orion">Diwali</keyword> and <keyword id="4067" type="General" weightage="20" keywordseo="Dhanteras" source="Orion">Dhanteras</keyword> knocking at our doors, the inflation demon continued to bother India like a guest who refused to leave. Just last month, the Consumer Price Index (CPI) stood at 5.49%, much higher than the anticipated levels. Moreover, the diverging policy stances among central bankers worldwide, growing geopolitical tensions, tough job markets, and extreme weather events are only adding to the uncertainty. In such economically uncertain times, what should your gold strategy be this festive season? To buy or not to buy, that is the question. Well, let’s get to it. <h2><keyword id="20050894" type="General" weightage="100" keywordseo="gold-etfs" source="keywords">Gold ETFs</keyword> to the rescue</h2>See, buying physical gold jewellery is certainly a flex, but also a financial fuss. First, you pay a heavy amount to buy gold. Not to mention all those extra, hefty jewellery-making charges. And then you pay even more money to keep it safe in a bank locker, lest it get stolen. But what if we tell you that you can own pure 24k gold, minus all these frills? Welcome, Gold ETFs (Exchange Traded Funds). Simply put, gold ETFs are like the cool cousins of your traditional gold investments. Instead of stashing gold bars under your mattress like those maniac millionaires we see in Bollywood films, you can now invest and trade in gold through the stock market. It's basically buying units of an <keyword id="19930506" type="General" weightage="20" keywordseo="etf" source="keywords">ETF</keyword> on the stock exchange that directly mirror the ongoing domestic prices of gold. Generally, gold ETFs are equivalent to 99.5% pure physical gold bars, and each ETF unit denotes actual, one gram of gold. And let's face it, who would not want that golden glow in their lives? Gold ETFs have witnessed an over seven-fold surge in their AUM (assets under management) in just the last five years. From Rs 5,613.22 crore in September 2019 to Rs 39,823.50 crore in September 2024, gold ETFs seem to be in-thing. Inflows in gold ETFs have shot up by a whopping 2,695% over the last 5 years. In September 2019, gold ETFs had garnered a mere Rs 44.11 crore. Compare that to the inflows worth Rs 1,232.99 crore gold ETFs received last month. Talk about growing, or glowing popularity! In fact, in just 2024, inflows in gold ETFs have surged by nearly 88% since the beginning of this calendar year. From Rs 657.46 crore in January 2024 to Rs 1,232.99 crore in September 2024, good old gold is never out of season. <h2>So, how do these ETFs work? Should I invest in them now?</h2>All you need is a Demat account. Log into your account, choose the gold ETF scheme you want to invest in, and voila! You’re now a bullion-aire! All your gold ETF units will be stored in this account. Then, you can buy and sell gold ETFs just like you buy shares—in real-time. So, if gold prices inch upwards, which is where gold is currently going, the value of your ETF units will also rise in lockstep. Ashwini Kumar, Senior Vice President and Head of Market Data at ICRA Analytics, says that of late, gold ETFs have been increasingly gaining popularity among investors due to the liquidity, safety and transparency they offer. "With the escalating global geopolitical tensions boosting the ‘safe-haven’ appeal of the bullion, investors are preferring to park their funds in gold ETFs as compared to investing in physical gold, as there is no hassle of storing it. The heightened activity in gold ETFs is also driven by the prospects of an imminent further interest rate cut by the <keyword id="20078761" type="General" weightage="20" keywordseo="u-s-federal-reserve" source="keywords">U.S. Federal Reserve</keyword> in the coming months,” he added. “Investors with a short- to medium-term investment horizon may consider investment through gold ETFs. A buy-on-dips strategy here may help investors capitalise on a temporary correction in prices. Also, given the current market dynamics where equities are showing mixed trends, a modest, 5-10% allocation to gold may serve as a hedge against inflation and market volatility, which may help you balance risks in an optimum manner,” Kumar noted. <h2>Wait, there is no dearth of options</h2>But if ETFs make you go WTF, there’s always digital gold. You can invest in the yellow metal without actually physically holding it for as low as Rs 1. The best part? You can buy or sell this gold 24 X7 seamlessly via multiple apps without having to pay storage costs. On your behalf, your gold is stored in insured vaults by the seller. But remember, digital gold continues to remain unregulated territory in the country, where you venture at your own risk. In 2021, market watchdog SEBI had even asked its members to desist from selling digital gold. Then there are gold mutual funds and the Sarkari SGBs, or sovereign gold bonds. While gold mutual funds invest primarily in gold ETFs, SGBs are issued by the RBI and are also a reliable substitute for holding physical gold. However, with the RBI currently putting brakes on issuing SGBs, investing in them is out of the question. Plus, you should only get your hands on SGBs if you're in for the long haul. Apart from a 2.5% p.a. interest, you don't have any yearly earnings from them. Moreover, no premature redemption is allowed before 5 years, and you'll have to wait a good 8 years to maximise your returns. <h2>Okay, tell me about returns</h2>In contrast, the seventeen gold ETF schemes currently present in the market offer an average one-year return of 29.12%. Stay with it a little longer, and you can end up with returns worth 16.93% and 13.59% over a 3- and 5-year period, respectively. If you look at it, these returns are comparable with the returns delivered by actual, physical gold. Data from Value Research indicates that gold, as a commodity, has delivered returns worth 27.24%, 16.53%, and 14.18% over a 1, 3, and 5-year period, respectively. So, worth investing, right? <h2>What are the risks?</h2>See, markets are as unpredictable as monsoons in Mumbai. One significant market correction can wash away your returns, and one sunny day or an upswing can leave you wallowing in wealth. Since your gold investments are directly linked to these markets, you should steel yourself up for some volatility. Plus, international gold prices are in dollars. So, if our rupee decides to take a nosedive, your returns might look a bit tarnished. Also, know that your ETF might not always perfectly mirror gold prices, which is also known as a tracking error. It's like expecting your Zomato-ordered food to look exactly like the picture on the menu—it's close, but not quite. Then there’s the taxation bit. The budget this year brought down the LTCG (long-term capital gains tax) on gold ETFs from the previous 20% to 12.5% (sans indexation). LTCG is what you pay if you sell your ETF units after 12 months. If you sell your gold ETF units within a year and make handsome returns, the tax you’ll have to pay will be equivalent to your income tax slab rate. <h2>Is gold just for old?</h2>A survey by fintech firm Moneyview thinks otherwise. Per their findings, over 85% of the 3,000 respondents it talked to considered gold to be a valuable asset for wealth preservation, with its intrinsic value and historical performance continuing to drive consumer confidence. Particularly, young investors in the age group of 25–40 years are also investing in gold via both physical and digital ways to build wealth for retirement and other long-term goals. So, young or old, everyone’s going for gold. So, this festive season, with gold prices going north, investing in gold can add that much-needed glitz to your financial attire. But remember, don't go overboard since gold isn't exactly a high-return-yielding asset. But whether you're a seasoned investor looking to diversify or a newbie trying to make their way in the markets, investing in gold offers you a glittering safety cushion. Just remember, while gold can make your portfolio shine, it's your smart investment decisions that truly make you golden. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified, and registered advisors for professional and personalised financial advice.

Simply put: Can investing in gold this festive season add the much-touted Midas touch to your investments?

The time for lamps, lights, festive cleaning, and shopping is upon us! Diwali festivities start with <keyword id="23288581" type="General" weightage="20" keywordseo="Dhanteras" source="keywords">Dhanteras</keyword> on Tuesday, October 29. Also referred to as <keyword id="23672565" type="General" weightage="20" keywordseo="Dhantrayodashi" source="keywords">Dhantrayodashi</keyword>, this day is celebrated with great joy and devotion by many Hindus. It involves worshipping <keyword id="23220366" type="General" weightage="20" keywordseo="Lord-Kuber" source="keywords">Lord Kuber</keyword>, the god of wealth, and Lord Dhanvantri, the god of medicine. Additionally, buying gold or silver on this day is seen as particularly auspicious. As <keyword id="23642266" type="General" weightage="20" keywordseo="Dhanteras-2024" source="keywords">Dhanteras 2024</keyword> approaches on October 29, here’s everything you need to know about the festival, including the date, Shubh Mahurat timings, and other key details. <h2>Significance of Dhanteras</h2>Dhanteras hold deep significance in Hindu culture, symbolising both wealth and well-being. Celebrated on the 13th day of the lunar calendar, the festival honours not only financial prosperity but also the birth of Lord Dhanvantri, the divine figure associated with health and medicine, highlighting the importance of both wealth and good health in life. <h2>Dhanteras 2024 Mahurat timings</h2>This year, Dhanteras begins with the Trayodashi Tithi starting at 12:01 AM on October 29 and ending at 2:45 AM on October 30. The best time for the Dhanteras Puja is between 7:27 PM and 9:16 PM on October 29. The Pradosh Kaal will be from 6:37 PM to 9:16 PM. <h2>Rituals</h2>Dhanteras marks the start of the weeklong Diwali celebrations, culminating in Bhai Duj. Families begin the day with cleansing rituals, such as bathing and deep cleaning of their homes, to welcome prosperity. Houses are beautifully decorated with flowers, rangoli designs, and glowing lights to enhance the festive spirit. <div type="Article" hostid="261" msid="79183505" title="Happy Dhanteras 2024 messages and wishes" mstype="2" mssubtype="0"></div> A long-standing tradition during Dhanteras is the purchase of new items—especially gold, silver, and kitchen utensils—as it is believed to bring good luck and prosperity into the household. Many families see this as a way to ensure wealth and success for the coming year. In the evening, they also observe the ritual of <keyword id="23672566" type="General" weightage="20" keywordseo="Yama-Deepam" source="keywords">Yama Deepam</keyword>, where a special four-faced diya with four wicks is lit to honour Lord Yama, the god of death. This act symbolises the removal of fear, negative energy, and obstacles from one’s life, seeking protection and well-being for loved ones. The diya is often placed at the entrance of homes to ward off evil and ensure a bright, positive future. SEE ALSO: <a href="https://www.businessinsider.in/thelife/webstories/dhanteras-2024-auspicious-items-to-buy-and-what-to-avoid/slidelist/114503989.cms" data-type="tilCustomLink" target="_blank">Dhanteras 2024: Auspicious items to buy and what to avoid</a>

Dhanteras 2024: Everything you need to know about rituals, auspicious timings and significance

Gold prices ended the last month 0.7 per cent lower, supported by a depreciating rupee and festive demand for Diwali and <keyword id="4067" type="General" weightage="20" keywordseo="dhanteras" source="Orion">Dhanteras</keyword>, said <keyword id="1036842" type="General" weightage="50" keywordseo="quantum-asset-management-company" source="Orion">Quantum Asset Management Company</keyword> (AMC). On the other hand, the yellow metal prices in the international markets were down by two per cent and ended October 2022 close to $1,638 per ounce. The fall in gold prices was a result of higher-than-expected September readings of US Consumer Price Inflation (CPI) and <keyword id="15433519" type="General" weightage="50" keywordseo="us-core-personal-consumption-expenditure" source="Orion">US Core Personal Consumption Expenditure</keyword> (Core PCE) at 8.2 per cent and 5.1 per cent, respectively, which increased investor anticipation of aggressive policy moves by the US central bank, <keyword id="594214" type="General" weightage="100" keywordseo="quantum-amc" source="Orion">Quantum AMC</keyword> said. Gold is entering November expecting the <keyword id="6356435" type="General" weightage="50" keywordseo="us-federal-reserve" source="Orion">US Federal Reserve</keyword>'s fourth consecutive 75 basis point hike, as the latest data from the US economy shows that consumer spending, job openings, wage growth, and inflation expectations haven't cooled off. Given that gold registered a seventh consecutive monthly decline in October, current prices can be a good entry point for gold investors to capitalise on the upside in prices from the recession, risk aversion, and end-to-rate hikes that are to eventually follow, Quantum AMC said. According to Quantum AMC, indicative of the prevailing global uncertainty and need for diversification, global central banks bought a record 399 tons of gold ($20bn) last quarter taking full-year purchases to 673 tons, the highest since 1967. Investors too should acknowledge the risks in the current economic environment and diversify their portfolios with a gold allocation, it added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/edtech-major-byjus-sacks-thousands-and-then-hires-lionel-messi/articleshow/95301630.cms">Edtech major BYJU's sacks thousands, and then hires Lionel Messi</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/samsung-logs-its-best-ever-diwali-sales-to-tune-of-14400-crore-in-sep-oct/articleshow/95302814.cms">Samsung logs its best ever Diwali sales to tune of ₹14,400 crore in Sep-Oct</a>

Investors can buy gold to diversify risk: Quantum AMC

Gold and gold ornaments are something integral to Indian tradition. Gold is considered as a symbol of luck, prosperity, abundance and auspiciousness. In fact people see gold as embodying Goddess Lakshmi, the goddess of wealth in it. <cmsannotation type="cmsannotation" annotationid="Indians love gold" comment="subhead" text="Indians love gold">Indians love gold</cmsannotation> Indian households take a sentimental interest in buying gold. India has recently overtaken China in becoming the largest importer of gold on the earth. People consider it auspicious to <keyword id="2329317" type="PERSON" weightage="20" keywordseo="buy-gold" source="Orion">buy gold</keyword> on festivals like Makar Sankranti, Dussehra, Navratri, Gudi Parva, <keyword id="188" type="ENTERTAINMENT" weightage="20" keywordseo="Diwali" source="Orion">Diwali</keyword>, Akshaya Tritiya and <keyword id="4067" type="COMPANY" weightage="20" keywordseo="Dhanteras" source="Orion">Dhanteras</keyword>. It is considered highly auspicious to <keyword id="8248136" type="General" weightage="20" keywordseo="buy-gold-on-dhanteras" source="Orion">buy gold on Dhanteras</keyword>. Some of the beliefs attesting this tradition are discussed here. <cmsannotation type="cmsannotation" annotationid="Shopping for gold on Dhanteras" comment="subhead" text="Shopping for gold on Dhanteras">Shopping for <keyword id="6994209" type="General" weightage="20" keywordseo="gold-on-dhanteras" source="Orion">gold on Dhanteras</keyword></cmsannotation> On the day of Dhanteras, the sale of gold reaches one of its annual peaks in India. The term Dhanteras translates as dhan (wealth) teras (thirteenth day). People buy gold bars, gold ornaments, gold coins silver coins or silver ware on this day. <cmsannotation type="cmsannotation" annotationid="The legend behind Dhanteras" comment="subhead" text="The legend behind Dhanteras">The legend behind Dhanteras</cmsannotation> Once upon a time, there was a king named Hima. He had a son of sixteen years. The king got him married to a girl. Astrologers predicted that the prince would die of snake bite on the fourth day of his marriage. This information made the king and the bride misery stricken. The bride was a clever and highly devoted girl. She hatched a plan to save the life of her husband. <cmsannotation type="cmsannotation" annotationid="Dhanteras is celebrated for the first time" comment="subhead" text="Dhanteras is celebrated for the first time">Dhanteras is celebrated for the first time</cmsannotation> On the day when the astrologers had predicted the death of the boy, the girl collected all the ornaments and gold in the palace and placed them in a heap in front of the main door. She advised the prince not to sleep and sat with him narrating some interesting stories and singing some melodious songs. The couple sat awake throughout the night. <cmsannotation type="cmsannotation" annotationid="Lord Yama arrives" comment="subhead" text="Lord Yama arrives">Lord Yama arrives</cmsannotation> During the scheduled time of taking the prince’s life, Lord Yama arrived near the palace. He took the form of a serpent which was supposed to bite the prince to death. As the serpent neared the main door of the palace, the heap of ornaments and valuables blocked its way, the dazzling brilliance of the items nearly blinded the vision of the snake. The snake could not enter the palace. Meanwhile, the snake was charmed by the melodious songs sung by the girl. Hence the snake laid there all night long listening to the songs. <cmsannotation type="cmsannotation" annotationid="The time of death lapses" comment="subhead" text="The time of death lapses">The time of death lapses</cmsannotation> The time that the planets had scheduled for the prince’s death elapsed and the serpent lost its mood to bite the prince. Lord Yama in the disguise of the snake left the house without taking the life of the prince. Thus, with her clever strategies and devotion to God, the girl could successfully save the life of the prince. <cmsannotation type="cmsannotation" annotationid="Dhanteras tradition begins" comment="subhead" text="Dhanteras tradition begins">Dhanteras tradition begins</cmsannotation> The legend of how the prince was saved from death inspired the tradition of buying gold on the day of Dhanteras. Gold is kept in puja on the day and a lamp known as Yama Deep is lit in front of the main door seeking the blessings of Lord Yama and goddess Lakshmi.

Why Indian people purchase gold on Dhanteras festival

With the <keyword id="4067" type="UNKNOWN" weightage="20" keywordseo="Dhanteras">Dhanteras</keyword> and <keyword id="188" type="ENTERTAINMENT" weightage="20" keywordseo="Diwali">Diwali</keyword> in full bloom, Indians are buying <keyword id="18712" type="ENTERTAINMENT" weightage="100" keywordseo="Gold">gold</keyword> like anything. With the price of 22 carat gold selling at Rs 29,100 today, <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword> has simplified the deal. Not only can you buy gold online, you can now buy gold of MMTC(<keyword id="1574659" type="UNKNOWN" weightage="20" keywordseo="Metals-and-Minerals-Trading-Corporation-of-India">Metals and Minerals Trading Corporation of India</keyword>) of Govt of India and PAMP of <keyword id="103" type="COUNTRY" weightage="20" keywordseo="Switzerland">Switzerland</keyword> through Paytm. 
 Accumulate Gold in your MMTC-PAMP Gold account and get it delivered at your convenience. Just make your first Gold purchase and the Gold balance would start reflecting on the screen of Paytm app. On a <keyword id="6354576" type="CITY" weightage="20" keywordseo="Facebook">Facebook</keyword> post by Paytm CEO <keyword id="2994985" type="UNKNOWN" weightage="20" keywordseo="Vijay-Sekhar-Sharma">Vijay Sekhar Sharma</keyword>, he explained, buy digitally from comfort of your home and You even get to pick 24 caret gold coin of this purchase. We sold more than milllion ₹ in just 10 hours. Do your Dhanteras buy now in digital form. “

You can buy MMTC gold on Paytm this Dhanteras

<ul><li>The usual fervor of the Big Fat Indian Summer weddings have given way to downsized miniature ceremonies this season. </li><li>However, consumers are investing the money they save from these small weddings in gold to secure their future. </li><li>On the back of these trends, <keyword id="1483203" type="PERSON" weightage="20" keywordseo="Ramesh-Kalyanaraman">Ramesh Kalyanaraman</keyword>, Executive Director, <keyword id="413856" type="COMPANY" weightage="20" keywordseo="Kalyan-Jewellers">Kalyan Jewellers</keyword> is optimistic that the brand will be able to expand its customer basket size by 30%. </li><li>We caught up with Kalyanaraman to understand how intimate weddings emerging as a trend has affected the <keyword id="556004" type="PERSON" weightage="20" keywordseo="jewellery-industry">jewellery industry</keyword>, various safety precautions it has taken across operational showrooms, and a lot more. </li></ul>The global pandemic hasn’t affected Indians' love for weddings and gold. They are coming up with out-of-the-box solutions, whether it is to organize weddings virtually and/or buy diamond studded or gold plated masks. Over the past three quarters, the value of gold has continued to accelerate. As a result, Kalyan Jewellers is now looking to increase its customer basket size by at least 30%. The brand also managed to close 10% of its annual <keyword id="126295" type="ORGANIZATION" weightage="20" keywordseo="Akshaya-Tritiya">Akshaya Tritiya</keyword> business with a unique initiative that was tailor-made for quarantine. It launched a Gold Ownership Certificate which allowed customers to purchase and own gold on Akshaya Tritiya. The certificate could be redeemed against physical gold, in the form of jewellery or coins, on or before October 31, 2020. The brand is still witnessing ‘a steady stream of footfalls’ across its operational showrooms from consumers who bought the certificate. Looking at these trends, Kalyan Jewellers’ Executive Director, Ramesh Kalyanaraman, voiced his optimism for the recovery of the sector. He shared with us how intimate weddings emerging as a trend has affected the jewellery industry, various safety precautions it has taken across operational showrooms and why the brand decided to align its marketing monnies on digital to adjust to the volatile market. Excerpts: Q. Tell us a bit about your campaign #MuharatAtHome. What is the idea behind it? What are the challenges you are facing in conducting ad shoots considering the restrictions? Weddings have always brought people together. This year, with lockdown restrictions in place during peak wedding season, it was presumed that everyone would postpone their wedding plans, but we were pleasantly surprised to see that this wasn’t the case at all. We saw families trade grand ceremonies for intimate functions, ruled by minimalism, simplicity and personalization. It is this trend of intimate weddings that our #MuhuratAtHome campaign captures. For the ad campaign we opted for an ‘at-home’ shoot with limited cast and crew, following state specified shoot protocols. As this is going to be a Pan-India campaign with multiple iterations, it was shot in three cities, with three separate teams. In each of these locations, the advertising agencies involved, followed the guidelines issued by local authorities and recreated a home-like intimate wedding set up. Q. How difficult was the lockdown period for Kalyan Jewellers? Initially it felt strange, because this was the first time in all these years that all our showrooms were shut at the same time. After a week, we realised that we will need to make good of this time, and so we started using it more productively to strategize, realign priorities and plan our next steps. For the staff, we conducted online training sessions. We also did customer outreach more as a gesture than anything else. We were actively involved in many CSR initiatives, be it collaborating with our brand ambassador Amitabh Bachchan and Sony Pictures Network. During Akshaya Tritiya, at the request of regular customers, we launched the Gold Ownership Certificate which allowed customers to purchase and own gold on Akshaya Tritiya. The certificate could be redeemed for against physical gold, in the form of jewellery or coins, on or before October 31, 2020. To our surprise, this was very well received, and we managed to do close to 10% of our annual Akshaya Tritiya business with this initiative. Q. How are your preparations for unlocking going? What are the various safety precautions you have taken across operational showrooms? We have heightened the safety and hygiene measures across our operational showrooms to safeguard the health and safety of our patrons and the community at large. All customers are given temperate checks with handheld scanners at the entrance. Customers are required to use single-use glove in the showrooms, and this is made available to them upon entry. Masks are provided to anyone who is not wearing it already. Deep cleaning of showrooms is undertaken at regular intervals through the day, and all high touch point zones like counter tops, door knobs etc. are frequently sanitized. We feel that going forward, even when the lockdown is completely lifted, these hygiene practices will become the new normal. Q. How have you observed consumer behavior changing lately? And what are some of the consumer buying trends witnessed in regions where showrooms have reopened? Over the past three quarters, we have witnessed a surge in gold prices and the value of gold, as an asset, has continued to accelerate. It is the only asset that has proved to be a promising and safe investment option for consumers across the country. In line with this, we are looking at an increase in the customer basket size by at least 30%. Furthermore, with DIY or intimate weddings emerging as a trend, the wedding-related expenses on venue booking, catering, etc. have reduced and customers have more disposable income at their end, which is now being allocated to investing in gold jewellery. Additionally, shoppers who have postponed their weddings are making purchases as planned by availing our bridal lounge facility, for a personalized shopping experience. Currently, we are witnessing a steady stream of footfalls across our operational showrooms. A segment of those footfalls are customers who are reaping the benefits of pre-booking their gold jewellery or those who purchased the Gold Ownership Certificate this Akshaya Tritiya. Some are there to exchange their older gold for newer pieces. Looking at the current trend, we are fairly optimistic about the recovery of the sector. Q. What has your marketing strategy been during the lockdown? Did you modify your media mix, with marketing investments getting shifted from one medium to another? One of the biggest trends that has emerged out of the nationwide lockdown is the huge surge in screen time spent by Indians across digital platforms. In line with this, brands have begun to align their marketing budgets towards digital, social media &amp; OTT, especially when it comes to placing new content. In line with this, we introduced temporary changes to our media mix with a more digital-centric approach. For campaigns such as #MaaTuneSonaKaDilPaya (Mother’s Day), we leveraged crowdsourced photographs from our social media community wherein some of the best moments were handpicked to feature in a campaign video. Amitabh Bachchan was the voice of the campaign, and it was well received. The #MuhuratAtHome campaign is also a result of a similar online-only strategy. Q. We are sure the future of retail and jewellery industry will never be the same. How are you making sure you opt to digital media, online selling policies and physical distancing need to help your consumer? The unique aspect to the jewellery business is the concept of privacy while shopping which has always existed. Families come together and prefer to sit together, a little away from other families that are shopping. Kalyan Jewellers’ showrooms are therefore standalone showrooms, which are either mid-size, large format or flagship showrooms, designed to allow this unique shopping practice. Our counters are also demarcated as wedding, gemstone, diamond or daily wear jewellery – which is an added advantage during these times of social distancing. (Auspicious days like Akshaya Tritiya or Dhanteras are the only times when this rule doesn’t apply.) Additionally, as mentioned earlier we have launched appointment facilities for our bridal lounge services which can be availed by wedding shoppers for a personalized shopping experience. Q. Do you think this experience will change the way you market your brand in the future? The USP of the brand will remain the same, but the channels of marketing might change. Naturally, when you change the channel, the way you communicate the same brand USP will get amended. In the coming years, we intend to focus on targeted marketing campaigns. Q. The pandemic and the lockdown has brought with it a lot of learning. What are your major learnings from this experience so far? During the lockdown, we re-evaluated many aspects of our business, and realised that with careful planning, we can cut costs under various heads, without affecting the overall performance of the business. We intend to implement this learning even going forward. With showrooms spread across the country, our senior and mid-level management used to travel extensively. Now with the lockdown rules, travel has reduced significantly, and we are managing our operations remotely. This saves both money and time. Going forward, we plan to carefully rationalise travel needs. Our marketing campaigns have also evolved post the lockdown, and we are looking at targeting online campaigns instead of larger campaigns, and this is also working well for us. Another lesson for the future.

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Simply put: Can investing in gold this festive season add the much-touted Midas touch to your investments?

Ira Alok Puranik

Dhanteras 2024: Everything you need to know about rituals, auspicious timings and significance

BI India Bureau

Investors can buy gold to diversify risk: Quantum AMC

IANS

Why Indian people purchase gold on Dhanteras festival

BI India Bureau

You can buy MMTC gold on Paytm this Dhanteras

BI India Bureau

Indians are buying more gold from the money they would otherwise have spent on big fat weddings

Karuna Sharma

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