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Gold consumers preferring deferred,monthly payment schemes

Consumers might be buying less gold amid record-high prices, but top retail chains are seeing a surge in jewellery purchased through deferred or monthly payment schemes. Some of the big jewellery retailers saw over a 50% rise in purchases through monthly schemes.

Tanishq received Rs 3890 FY 23 through its deposit scheme , up 44%.Reliance Retail received Rs 282 cr. rising from Rs 184 cr last year.

Even regional chains have latched on to monthly deposit schemes. Pune-based PNG Jewellers, which operates 42 stores in Maharashtra and Goa, got ₹700 crore in FY23, up 27% from FY22. Kolkata-based Senco Gold received ₹192 crore in deposits last fiscal year, an 89% increase from a year earlier.

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