July 05 2020
This Akshay Tritiya, go online to beat the gold rush
24 April 2012

Akshay Tritiya, the auspicious day to buy gold, is here. You can beat the rush at the gold store by logging on to the virtual world and get heavy discounts.

While site owners’ claim discounts can go up to as high as 50%, the big discounts are for less expensive products such as imitation jewellery. The discounts for high-end products generally range from 5% to 20%. Sites such as www.caratlane.com, www.johareez.com and www.jewelsnext.com sell jewellery online.

“The online space for buying jewellery is substantially growing.

People who wish to buy online may get it 15 to 35% cheaper depending on the price points. These days people are comfortable spending Rs2,000 to Rs10,000 through an online space,” says Rajiv Mehta MD of Surat Diamond Jewellery, an online retailer.

Retailers say on special days such as Akshay Tritiya, Valentines Day and Dhanteras, there is a noticeable spurt in demand. And to lure customers, shops give an additional discount ranging from 10% to 20%. The online stores offer huge discounts as marketing and distribution costs are minimal and they don’t have to set up swanky outlets.

But don’t fall for deals if they look too good to be true. Also at the top of your checklist should be the company’s return policy. Most websites offer a 15 to 30-day return policy. Start by making small purchases. You can customise the jewellery as per your needs.

Recurring deposits are believed to be an efficient way to achieve small goals. But unlike recurring deposits, you will not earn interest in the scheme. But if you pay the full tenure (generally 11 or 24 months), then the jeweller pays the instalment for the last month. “The demand for the scheme continues to be high,” says Mehul Choksi, chairman and MD, Gitanjali group.

However, remember that you cannot buy gold coins or bar with this money. So if you are looking at it purely from an investment point of view, then it may not be for you.





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