Published
Oct 25, 2022
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Tanishq sees Dhanteras sales exceed last year but unable to escape pressure of inflation

Published
Oct 25, 2022

Tata Group’s jewellery brand Tanishq saw jewellery sales rise above pre-Covid levels during the festive season this year but the business, along with numerous other jewellery retailers, are remaining alert as the pressure from inflation builds. 

Festive jewellery by Tanishq - Tanishq - Facebook


“We need to be watchful,” said Tanishq’s vice president of categories, marketing, and retail Arun Narayan, the Times of India reported. “There is certainly an inflationary overhand that we are noticing on the whole.” 
 
Tanishq reported jewellery sales over the weekend of Dhanteras which were higher than during the festival last year and even higher than pre-Covid figures, according to Narayan. However, the business has noticed pressure on the customers’ wallets stemming from inflation beginning to build up. This is expected to cause a dip in sales of larger ticket items in the coming months, TNN reported. 

Despite the fact that gold prices have retreated from the highs they experienced over the summer, prices are still on average 50% higher than during pre-Covid times. This has led most retailers to remain vigilant for the long-term outlook despite a recent festive rush. 
 
The winter wedding season is expected to bring another wave of sales, especially as it will go ahead without any form of Covid-19 restriction this year, which should boost demand. The outlook therefore appears promising for the short term and less clear for the long term. 

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