Titan expects record festive sales as gold prices fell to a seven-to-eight-month low. CEO Arun Narayan said, "We are hopeful of this run-up towards Dhanteras to be an all-time high." Many customers now use the gold exchange channel, which accounts for over 50% of transactions at its jewellery stores.

Titan is projecting record sales in the run-up to Dhanteras, driven by softer gold prices and a growing shift in consumer behaviour towards exchanging old gold. More than 50% of transactions at its stores are now routed through the gold exchange channel, according to Arun Narayan, CEO of the Jewellery Division at Titan Company.

The festive season began on an encouraging note, but volatility in gold prices initially prompted some buyers to defer purchases. Prices softened towards the end of last week, falling to a seven-to-eight-month low and bringing a significant number of customers back to stores.

"We expect the next seven days to be similar. So, we are hopeful of this run-up towards Dhanteras to be an all-time high," Narayan said.

Titan expects demand to remain strong through the first 11 days of November, up to Bhai Dooj. To tap festive demand, the jeweller introduced a new collection, Adhyantara, along with a wider range of 18-carat gold and diamond-studded jewellery. The 18-carat offerings are aimed at making purchases more accessible ahead of the upcoming wedding season.

Gold exchange gains ground

A key driver of sales this season has been the growing willingness among consumers to exchange existing household gold for new jewellery.

Titan began actively promoting this option last October in a campaign featuring Sachin Tendulkar, encouraging customers to trade in unused jewellery, coins and bars for new designs. The approach benefits consumers looking to refresh their jewellery while also reducing the need for fresh gold imports.

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Consumers are also moving away from the traditional mindset of holding on to gold rather than exchanging it.

"There used to be a time when consumers would say that we only accumulate gold, we don't really exchange, but that's in the past," Narayan said.

He added that gold exchange has now become a comfortable and preferred way for consumers to buy new jewellery during the festive season.

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