Dhanteras sales boom or price illusion? Why Indians spent more on gold and appliances without buying much more
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Dhanteras gold sales reached Rs 60,000 crore on November 6, rising 15-20% from last year.
- ✓While revenue grew, actual volumes stayed flat as buyers chose lighter jewellery.
- ✓Appliance makers also saw higher values, with Haier president NS Satish noting, "festive sales grew 10-12% in volume but 25-30% in value."
Story at a Glance
- Category
- Indian Markets
- Reported By
- MoneyControl
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
India's Dhanteras shopping numbers tell two different stories. Jewellers estimated gold sales of around Rs 60,000 crore, up 15-20% from last year, even as the quantity sold remained largely unchanged. Appliance manufacturers also reported higher sales, but in several cases, revenue grew considerably faster than volumes. Preliminary estimates from the All India Gem and Jewellery Domestic Council (GJC), along with sales figures shared by appliance makers with PTI, indicate that higher prices and a shift in purchasing preferences shaped consumer spending during the festive season. Gold sales rise, but volumes tell another story GJC chairman Rajesh Rokde told PTI that gold sales on November 6 were expected to reach approximately Rs 60,000 crore.
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