Last updated: 06 Jan, 2021 | 03:13 pm
Titan’s latest business update indicates that the company’s business has recovered significantly in the Oct-Dec period, on the back of a strong festive season. Here are a few highlights:
Titan’s robust update about its Jewellery business is encouraging. While ticket size continues to be higher due to higher gold rates and higher share of wedding-related products, 100% recovery in buyers (number of invoices) is yet to be seen.
While the customer sentiment has improved over the quarters, there was greater willingness to spend on plain gold jewellery and gold coins rather than discretionary items, explaining the reason why Watches and Eyewear are taking longer to achieve full recovery. The business has been impacted due to a sharp drop in discretionary spending as well as the lockdown imposed to contain the pandemic. While the recovery in sales in various segments is encouraging, all segments reaching growth phases could take a few months.