Swiggy Instamart Sees 49x Surge in Gold Sales During Akshaya Tritiya
Swiggy Instamart logs 49x gold surge on Akshaya Tritiya with small-ticket gold driving quick-commerce boom
The Economic TimesImage: The Economic Times
On April 19, 2023, Swiggy's quick-commerce platform Instamart experienced a 49-fold increase in gold purchases during Akshaya Tritiya, driven by consumer preference for small-ticket items. Major urban centers like Mumbai and Delhi led demand, reflecting a shift towards digital shopping for traditional purchases amid rising gold prices.
- 01Swiggy Instamart recorded a 45-fold increase in overall demand on Akshaya Tritiya.
- 02Gold purchases surged 49 times, while silver purchases rose 24 times.
- 03Small gold coins (0.5g to 2g) became the most popular items among consumers.
- 04Nearly 40% of gold orders were pre-booked to lock in prices.
- 05Contrasting trends were observed in the broader jewelry market, with a 30% decline in gold demand by volume.
Advertisement
In-Article Ad
On April 19, 2023, Swiggy's Instamart experienced a remarkable 49-fold surge in gold purchases during the auspicious festival of Akshaya Tritiya. This spike in demand was largely attributed to the popularity of small-ticket gold items, such as coins weighing 0.5g to 2g, as consumers opted for affordability amid soaring gold prices, which are currently around ₹1.51 lakh per 10 grams. Interestingly, nearly 40% of gold orders were made through a pre-booking feature, allowing users to secure prices in advance. Major urban centers, including Mumbai, Delhi, and Bengaluru, drove this demand, showcasing a trend where consumers are increasingly embracing quick-commerce for traditional purchases. In contrast, the broader jewelry market saw a 30% drop in gold demand by volume, indicating that while buyers are cautious, they are recalibrating their purchases rather than retreating. Retailers noted a shift towards lighter jewelry and diamond-studded designs, especially among younger consumers. Additionally, silver purchases on Instamart showed a different trend, with high-value orders, including one worth ₹1.65 lakh for silver bars, reflecting its growing status as both an investment and gifting option. This shift highlights how quick-commerce platforms are transforming traditional shopping experiences into impulse-friendly, digital-first interactions.
Advertisement
In-Article Ad
The shift towards purchasing smaller gold items and using quick-commerce platforms could lead to more affordable options for consumers, making gold purchases more accessible during festive seasons.
Advertisement
In-Article Ad
Reader Poll
Do you prefer buying gold online or from traditional stores?
Connecting to poll...
Read the original article
Visit the source for the complete story.

