Gold price swings spur advance buying; Tanishq enters gemstones to boost demand

Tanishq is sharpening its focus on affordability and product innovation ahead of Akshaya Tritiya, as volatile gold prices continue to shape consumer behaviour, said CEO Arun Narayan.

After an unprecedented surge in gold prices over the past year, the jewellery retailer is continuing to see shifting buying patterns, with customers advancing purchases amid concerns of further price hikes.

“We are seeing consumers with upcoming weddings bringing forward their purchases, aided by a recent cooling in gold prices,” Narayan said, adding that the trend was visible through the March quarter and is expected to continue into the festive season.

In a key product push, Tanishq is entering the natural gemstones category with the launch of a new collection, ‘Hues’, featuring over 200 designs.

The range spans stones such as amethyst, tourmaline, and tanzanite, alongside traditional favourites, with 70 per cent of products priced below ₹2.5 lakh. The move taps into rising consumer interest in coloured gemstones and design-led jewellery.

To counter price sensitivity, Tanishq is doubling down on accessibility. This includes a wider range of lightweight jewellery, increased adoption of 18-carat and 14-carat formats, and schemes such as gold exchange and rate protection programmes.

Notably, gold exchange now accounts for over 50 per cent of transactions, as consumers increasingly recycle idle jewellery to fund new purchases.

Online continues to play a largely discovery-led role, with strong double-digit growth in website traffic, though transactions remain store-driven given the high-involvement nature of jewellery purchases.

Despite macroeconomic uncertainties, Narayan said consumer intent remains strong. Internal surveys indicate robust interest across segments, from lightweight jewellery to coins, with the company expecting a healthy festive season.

Published on April 6, 2026