Across the platform, the most loved gold grammages were 1 gram, 2 gram and 0.5 gram, with Bengaluru, Mumbai, Hyderabad and Delhi driving demand surge
Instamart recorded a 45-times surge in overall demand on 19 April (Akshaya Tritiya), led by a 49-times jump in gold and 24-times growth in silver. Across the platform, the most loved gold grammages were 1 gram, 2 gram and 0.5 gram, highlighting that Akshaya Tritiya is as much about cultural intent as it is about affordability, the company claimed.
Metros led the demand on the quick commerce platform, with Bengaluru, Mumbai, Hyderabad, Delhi, Chennai, Pune, Gurgaon, Kolkata and Noida leading the chart on the occasion. Keeping the gold price volatility in mind, the company had also enabled a price lock feature for select gold coins offered by sellers on the platform that lets shoppers lock in gold at pre-festive prices between 10 to 16 April, then redeem on April 19, at the lower of the locked price or prevailing market price.
Nearly 40 per cent of all demand stemmed from such pre-booking orders, it said. Silver showed up as the go-to for gifting, investing and stocking up, with 10 gram, 5 gram and 20 gram bars leading the way. One Bengaluru shopper added Rs 1.65 lakh worth of silver bars to the cart in a single tap, the company added. However, BW Retail World could not independently verify the data.
“A user from Bengaluru placed the largest single order worth Rs 1,99,917, including Rs 1.65 lakh in silver bars and Rs 31,800 in gold coins, alongside everyday essentials like soft drinks, ice cubes, Alphonso mangoes and even a water dispenser. Plus a smartwatch thrown in for good measure,” the company pointed out.
Earlier, companies also posted healthy figures on the festival and reported strong year-on-year growth. PN Gadgil Jewellers recorded festive revenue of Rs 251 crore on Akshaya Tritiya, reflecting a growth of 80.3 per cent over the previous year’s revenue of Rs 140 crore. This marked the company’s second-highest single-day revenue performance to date.
Marking a healthy improvement in its performance, Thangamayil Jewellery, a public-listed company, has reported revenue of Rs 279.27 crore as Akshaya Tritiya sales for the current year as compared to Rs 158.80 crore in the corresponding period of the previous year. This marked an incremental growth of 75.87 per cent on a year-on-year (YoY) basis.
