This Diwali, diamonds seem to have taken the sheen away from the overwhelming longing for gold. Soaring gold prices are seeing consumers prefer a variety of diamond-studded jewellery which seems to be hotter than gold. Among ‘white goods’, LCD and plasma televisions have turned out to be the top sellers, while contemporary wear seems to be a hit in the apparel category.

According to Sohil Kothari, managing director, Nirvana, diamond jewellery appears to be more attractive to customers this season. “Since the gold component is low in diamond jewellery and the cost is on diamond and labour, people are getting their value for money. Also, diamond prices have not been affected by the rising gold price. So the off-take is good this Diwali,” says Kothari.

Diamond rings, earrings and pendants — in that order — are high in demand. According to Mehul Choksi, chairman and MD of Gitanjali Group, the runaway increase in gold prices has affected gold ornament sales. “Compared to last year, the demand for diamond jewellery has increased,” Choksi said. Durable manufacturers are buoyant since their major brands seem to be flying off the shelves, with a catalytic push by their promos. LCDs, slim TVs, frost-free refrigerators and microwave ovens are the most vibrant segments among most products. “There is a very high conversion rate from colour to LCD TVs in the metros. Slim televisions are doing very well as we call it the 'poor man's LCD. Microwaves are selling high since people and corporates generally opt for microwave ovens as gifts during the festive season.

While we expect to sell 1.3 lakh LCDs, colour TV would do good with an expected sale of 11 lakh units. We are planning to sell close to 1.2 lakh units of frost free refrigerators," said Amitabh Tiwari, business head, consumer electronics division, LG Electronics India. Sabiha Kidwai, general manager, brand management and corporate strategy, Panasonic, says LCD TVs, digital cameras and home theatres are seeing good sales this season.

It is not just a season when people want to decorate their homes and buy a whole a lot of established brands. It is also a time when they want to look good themselves. Buying new clothes is on the agenda of most Diwali shoppers across the cities.

For the women’s wear brand called ‘W’, both contemporary and traditional wear is clicking. “One of the things we sell — tunic tops -- which can be teamed with western or Indian trousers, has a wide appeal. Overall, our daywear is selling as much as evening wear. We are expecting an increase of 20 per cent in sales over the last festive season,” said Vijay Kumar Misra, chief executive officer, W.

It’s revival time for home décor segment as well, as consumers are looking to spruce up their homes. Expectations of salary hike-s/bonus and an improving job market have helped ho-me sales revive, resulting in a spurt in sales of furniture and home accessories. “Th-ere is an overall upbeat mo-od compared to last year. This is a time when people are shifting to their new ho-mes. So we are witnessing good conversion in furniture and home accessories,” said Manish Parekh, director, @home.

With inputs from

Jayasree Maji and Ruchika Chitravanshi in

New Delhi, Sangeeta G in Chennai