The shift in buying behaviour stems from better resale value of old ornaments and improved transparency in transactions following the implementation of the goods and services tax (GST) in July 2017.
Organised retail chains' voluntarily adoption of mandatory hallmarking of gold ornaments has helped them gain consumers' trust -- a major driver for jewellery purchase -- over the past one year.
Assured resale value and continuous offer of discounts on making charges have also seen customers shift to branded retail stores from their perennial local jewellers.
Read more at http://www.rediff.com/business/report/why-your-family-jeweller-is-losing-the-battle-to-big-brands/20180707.htm
My notes: TITAN is the biggest beneficiary of this move.
Organised retail chains' voluntarily adoption of mandatory hallmarking of gold ornaments has helped them gain consumers' trust -- a major driver for jewellery purchase -- over the past one year.
Assured resale value and continuous offer of discounts on making charges have also seen customers shift to branded retail stores from their perennial local jewellers.
Read more at http://www.rediff.com/business/report/why-your-family-jeweller-is-losing-the-battle-to-big-brands/20180707.htm
My notes: TITAN is the biggest beneficiary of this move.
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