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Inflation no bar in buy-buy week

Regal Ranchi is shining, sparkling, vrooming and even clanking in the run-up to Dhanteras on Sunday.

A rough survey shows gold, diamonds, cars and utensils are topping shoppers’ list this week, with big discounts and fanciful freebies on offer to enhance prosperity and luck.

Some jewellery joints in the capital are luring customers with free gold coins with every substantial purchase, while others have launched savings scheme that allows one to deposit a nominal amount every month for at least a year to buy ornaments as and when one wants.

Swaroop Kundu, floor manager of Tanishq at GEL Church Complex, said the footfall was as heavy as 100-150 every day. “After all, we are offering flat 20 per cent discount on making charge on purchase of diamond jewellery worth Rs 2 lakh and up to 20 per cent discount on gold jewellery of any amount,” he said.

Similarly, Kasauti — another jewellery store at GEL Church Complex — is wooing customers with its Diamond Maha Utsav. “We are giving away a one gram gold diya on purchase of diamonds worth Rs 10,000. Besides, there are lucky coupons and daily draw. A diamond ring worth Rs 12,000 is up for grabs every day from November 4 to 13,” said chairman-cum-managing director Basant Prasad.

The price of the yellow metal may have touched a record high — Rs 31,790 per 10gm for the 24-carat variety on Friday — but the festive footfall is rising steadily and trade pundits believe the splurge mood will not be soured by inflation. “Business will be done in crores this Dhanteras if you take all sectors (jewellery, cars, electronics and utensils) into consideration,” said businessman Anil Jaiswal, who owns a utensil shop at Church Road.

Kundu couldn’t agree more. He said on a normal day, their sales were around 10 per cent. But, on Dhanteras, it was expected to peak to 80 per cent. “Purchasing gold is considered one of the best forms of investment. Besides, it is a tradition that few want to break. We have heavy bookings for lightweight gold pendants, bracelets and chains,” he added.

If gold is glittering like never before, the car market is also going zip-zap-zoom with attractive discounts and offers.

“In the past fortnight, we have booked 90 cars — mostly Tata Indica Manza and Tata Indica eV2. Small is smart too and Tata Nano has also found 44 takers. People wish to take their brand new cars on a spin on Dhanteras,” said Basudeo Motors sales manager Alka Jha. She added the figures were impressive compared to the slump last year.

Staff at electronics shop Kamalia Sons pointed out that demand for LED and LCD televisions was also soaring. “Last year, people had a fetish for washing machines, this year it is smart TV,” owner Prakash Kamalia said, adding that the middle-income group was lapping up the special zero interest finance facility.

Astrologers too are making hay in the run-up to Diwali and Dhanteras with the faithful wanting to know what may be their lucky buy. “I want prosperity for my family and consulted astrologer Pandit Shiv Prasad. He advised me to buy gold ornaments since my star sign is Gemini,” said Bariatu homemaker Manjula Sinha.

What are you planning to buy this Dhanteras?

Tell ttkhand@abpmail.com