As India gears up for Akshaya Tritiya, jewellery demand is witnessing a strong uptick across e-commerce and offline retail, even as elevated gold prices push consumers toward more value-conscious purchases.
Online platforms are seeing a sharp surge in traction, led by gold, silver and coin categories. Siddharth Bhagat, director for fashion and beauty at Amazon India, said demand has accelerated significantly in the run-up to the festival. “Ahead of Akshaya Tritiya, we are seeing strong momentum, with gold jewellery growing around 2X, silver 2.5X and coins around 2X year-on-year. Jewellery is increasingly being seen as both a trusted investment and everyday self-expression,” he said, adding that AI-led discovery tools are helping customers find products across price points.
Bhagat noted that consumers are increasingly blending investment buying with lifestyle-led purchases, with fine jewellery and precious jewellery segments growing two-fold and 3.7 times, respectively. Platforms are also leveraging AI-powered assistants to simplify discovery, enabling shoppers to search for specific needs such as office wear or budget-driven purchases.
Offline retailers, however, expect steady but more measured demand, driven by affordability concerns and price volatility. Parag Shah, CEO and Director of KISNA Diamond & Gold Jewellery, said consumers continue to participate in festive buying, albeit with a sharper focus on value. “We are seeing steady demand despite high gold prices, with purchases largely concentrated in the ₹60,000–₹80,000 range, reflecting a clear shift toward value-led buying,” he said.
Shah added that Akshaya Tritiya typically contributes 15–18 per cent of the company’s annual revenue, making it a critical sales period. To drive conversions, brands are rolling out aggressive promotional strategies, including gold price protection plans, discounts on making charges and exchange offers. At KISNA, old gold exchange is expected to account for up to a quarter of total transactions, underlining its role in improving affordability.
Category trends also reflect evolving consumer preferences. Lightweight, design-led and diamond-studded jewellery are seeing higher traction, particularly among younger and first-time buyers, while demand for heavy gold pieces remains muted. Coins continue to be purchased alongside wearable jewellery, maintaining their relevance as a traditional investment option.
Industry executives said the trend highlights a clear channel split, with online platforms driving growth in lightweight jewellery and coins, while offline stores continue to see strong footfalls for high-value purchases.