Jewellers defy record gold prices, clock strong Q3 sales with 40-50% revenue growth

• Jewellery sales surged 40-50% in Q3 despite gold prices hitting a record Rs 1,40,000 per 10 grams.
• Wedding and festive demand, coupled with attractive discounts and exchange schemes, fueled the strong sales.
• Retailers like Titan, Kalyan Jewellers, and Senco Gold reported growth across gold coins, studded, and plain gold segments.
• Companies offered incentives such as zero-deduction policies for old gold exchange and 15-50% discounts on making charges.
• While volumes declined over 30%, revenue growth was driven by higher average selling prices, with gold coin sales nearly doubling.

Why It Matters: Strong festive and wedding demand, coupled with strategic discounts, propelled Q3 jewellery sales despite record gold prices.