MUMBAI : The gems and jewellery industry is staring at a sales washout on Akshaya Tritiya for the second consecutive year as most of the states are under lockdowns due to the raging second wave of the COVID-19 pandemic which has led to negative consumer sentiment, say industry leaders. Akshaya Tritiya, considered as an auspicious day for buying gold and jewellery, falls on May 14 this year. So, we are expecting a near washout of this Akshaya Tritiya as well," All-India Gems & Jewellery Domestic Council (GJC) chairman Ashish Pethe told PTI. "This will severely impact offline sales during this Akshaya Tritiya. However, digital and omni-channel retail strategies developed over the last year by many players may be a silver lining, preventing Akshaya Tritiya from being a complete washout.

Source: Mint May 11, 2021 14:03 UTC