Jewel Rush

Despite the rising gold prices, jewellers in Kerala are expecting good sales for Onam and have drawn up tempting offers to attract consumers

Come Onam and whatever be the gold prices, women in Kerala will still shop for gold. The simple reason being the beautiful yellow metal enhances the traditional Onam attire of the cream saree with the golden kasavu border. The harvest festival also marks the beginning of the Malayali New Year, and buying gold is believed to bring in wealth and prosperity for the whole year.

Trends in gold
When it comes to India, we have a strong tradition of jewellery and it is a symbol of status for women and families. Among the jewellery, traditional gold jewellery is hugely in demand during Onam. Karimani mala, mullamottu mala, pathakkam, elakkathali and manga mala find many takers during the festival time. “Among the traditional ones, kasu mala, palakka mala and mullamottu mala are more in demand,” says Sasi, sales executive, Anupama Jewellery, Kochi.

“Evergreen traditional jewellery are always sought after, but we also have rare traditional designs, such as palakka mala in unique shapes, kasavu mala that matches the kasavu on a Kerala saree, mullamottu and kasu malas in carnatic style,” says Antony Alapatt, partner, Alapatt Heritage Gold and Diamonds.

Onam Special
Onam is a very important occasion for Malayalis and Onam collections will feature both traditional and contemporary styles. Accordingly, jewellers have matched consumer sentiments and brought out tempting offers.

Alapatt Heritage Gold and Diamonds offers a discount of Rs. 1200 per sovereign of gold ornaments which is bought from their stores in Kochi, Kothamangalam and Kozhikode, along with surprise gifts, special package rates for wedding purchases and a 100% exchange offer that gives the highest value for old ornaments exchanged in lieu of new. “We have also increased our stock of bridal necklaces in designs ranging from Nizami to traditional Kerala and Bengali work for the upcoming wedding season as well,” adds Alapatt.     

Suhas Rao, managing director, Bhima Jewellery, also has big plans for Onam. “World Gold Council has chosen to tie-up with us to launch ‘Auza’, an exclusive bridal collection, in Kerala, which will be available in our select stores only. This will be launched for Onam. Also, to attract more customers to shop with us on Sunday, we have a ‘lucky Sunday’ scheme for Sunday shoppers,” says Rao. 

Fluctuating price
Festive season, especially Onam is the time when gold sales soar sky-high. However, the fluctuating gold prices will not stop shoppers from buying jewellery during this time. “For Onam, antique and diamond jewellery are more popular, though there is a huge demand for traditional jewellery as well,” confides the store manager of a popular jewellery brand in the city.

Experts expect strong sales this festive season simply because jewellery is an integral element for many people during strong cultural and religious occasions. P D Jose, general manager – gold, Joy Alukkas, is of the opinion that rupee depreciation and increase of gold import duty from 2% to 10% has had an impact on the overall sales. “However, we are expecting the sales to pick up during Onam,” says Jose.

Changing preferences
Just like the varying gold prices, consumers seem to fluctuate when it comes to design preferences too. While the 60-plus generation prefer traditional jewellery, the 40-plus prefer contemporary and traditional jewellery. Teenagers prefer new designs with rhodium plating and different colours and tend to choose diamonds and pearls. There are younger customers who prefer traditional jewellery that reflects their roots, while traditional ladies sometimes choose contemporary jewellery for Onam. Though some consumers now prefer modern designs inspired by antique concepts.

 “During Onam, people usually buy gold to be given away as gifts. Youngsters today prefer unique light weight gold jewellery, hence there is a huge demand for it during the festive season,” adds Jose.

Get ready to usher in the festive mood, make a ‘gold’ statement and stand out in the crowd.

- sherene joseph