Modern earrings and rings are an instant hit with buyers ahead of Akshaya Tritiya, says survey

Last Updated: Sun, Apr 15, 2018 16:41 hrs
Gold shop (IANS Photo)

That modern styled earring may appear too simplistic in comparison ​to the flashy jhumkas sporting a traditional design. ​But by any chance if you are opting for those ​ suave everyday wear ornaments, you aren't alone. In fact, a ​majority of women prefer ​modern ​ earrings and finger rings according to a survey of Indian women conducted by Caratlane.

Caratlane, a Tanishq brand ​,​ studied women a month prior to Ak​s​haya Tritiya and came up with interesting observations. These observations ​could ​be of of interest to customers and retailers​ at a time when g​old buying is already on the agenda of many people. ​

After all, Akshaya Tritiya has always been believed to be a great time to invest in Gold.​ ​The belief is that ​ valuables ​bought​​ ​ on the auspicious day are said to​ ​bring yearlong prosperity.

​ Caratlane study says 26.5% women are keen on buying earrings​

Among the most noteworthy points ​from the survey ​ is ​about ​ the jewelry women preferred purchasing. 26.5% or a quarter of women surveyed said they would prefer to buy earrings during the upcoming festive season. Rings (24.5%) and ​b​ angles or bracelets (12.5%) were other interesting categories. Women were ​not too keen on ​p​endants (​only ​ 9.5%​ interest​ ) and necklaces (​only ​ 6.1%)​. ​T he ​rest of the women said that they would opt for anything that captured their fancy ​when they were making a purchase .

The Caratlane survey finds:

  • 37.6% said buying ​g​ old was on their radar during Akshaya Tritiya.
  • Diamond ​j​ ewelry is leading the charts with 49.1% looking at diamond studded ornaments.
  • 46.2% were keen on buying ​p​ lain ​g​ old jewelry. Only 4.7% were interested in platinum jewelries.
  • 81.3% respondents said they favoured buying a modern design. Even in the age group 45 ​and above, 61.1% said they were keen on buying modern designs that could be worn every day.
  • Very few people opted for online stores as a point of purchase. 61.70% were in favour of a branded store, while 36.30% were confident of buying from their family jeweler.
  • 47.90% ​w​ omen bought jewelry for everyday wear while 4.40% made the decision for a festival. 32.50% had an occasion that rationalised buying an ornament while 15.20% said they bought it as an investment.

Atul Sinha, VP Marketing, for Caratlane said, " ​I​ t's very clear that we are seeing a significant change in the preferences of women when it comes to jewelry. At CaratLane our efforts are focused on making modern designs for today's lifestyle that are affordable and can be worn every day."

The survey's ​findings find an echo in Caratlane​'s own Madhubani collection. The name is inspired from a 2500 year old art form originating from Mithila in Bihar. Crafted in 18 karat yellow and rose gold with diamonds and gemstones, the collection comprises a whole new range of rings, earrings, necklaces and bracelets. "From everyday wear to statement making designs, this collection is a mix of rich cultural heritage and nature's extravaganza, just like a Madhubani painting," says Sinha.

Here are samples from ​the collection.

Fish Styled Earrings from the Madhubani Collection.

A necklace from the Madhubani Collection.

Another fish styled earring from the Madhubani collection.

Ring from the Madhubani collection.

Gold Price this week

Last fortnight Sify.com recommended buying Gold as prices hovered around a 3 month low. But with the festive season, rise in crude prices, slip in US currency, and a probable resolution around trade wars, Gold has again ​begun to climb .

Gold was quoting price of Rs 32000 in the Delhi spot markets on Wednesday. While writing this story, 24 Karat Gold was retailing in Mumbai, Kolkata and Delhi at over Rs 32400 per ten grams. Price in Delhi has peaked by 1% in the past one day alone. This should probably ​have an effect on buying trend around Akshaya Tritiya eve.

Silver too quoted a higher price, following better uptake from industrial units and coin makers. Silver was priced at Rs 41600 per kilo.

In case you loved the collection, do share us your comments, and forward this story among your circle. Also, don ​'​ t forget to check out these stories, in case you are yet to make a buying decision.

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