Mumbai: India has become the growth engine of platinum jewellery globally, according to a report published by Platinum Guild International (PGI), a trade organisation supported by major South African platinum producers. A strong preference for platinum among young consumers is one of the strongest driving forces to the growth of platinum jewellery demand in India.
With the onslaught of festive season and Diwali just round the corner, the Indian jewellery, especially platinum retailers are expecting a big leap in sales. G2J asked some select platinum jewellery retailers pan India to assess their expectations of the sales during the festive season.
We asked them the questions below to get their feedback.
1) How do you expect platinum sales during this festive season?
2) Are you planning to introduce any scheme to boost the sales? Plz give details.
3) What growth do you expect this year in compare with last year’s festive season?
4) How the PGI helps you increasing the platinum sales?
Mr. Darpan Anand, Managing Director- Punjab Jewels says, “We are expecting platinum sales to double this festive season. We are looking at walk-ins in most of the showrooms across the cities lead by platinum jewellery specific demand which has increased substantially compared to last year.”
Talking about the scheme, Mr. Darpan says, “from 14th October to 5th November 2018 we will be offering customers’ special gift on every purchase.
PGI has an excellent team which coordinates well with us on all fronts starting from strategizing to making the platinum category stronger through their innovative marketing programs. Their regular training of sales staff ensures that we are equipped with all knowledge and know how on platinum to efficiently serve our customers. Their efforts has helped create a immense awareness and interest in the category.”
Mr. Pratap Kamath, Managing Director Abaran, Bengaluru, says, “We are looking forward to a very exciting season. We hope to have very robust sales this Dussehra – Diwali Season. We are aggressively promoting Platinum Evara this season. This year, since April, has been very good for us. Comparing Year on Year sales this year 2018 has been the best. So far we have seen close to 25% growth and we are sure it will continue to report the same.
PGI campaigns & promotions have always been brilliant. Especially their training programs, such initiatives really boosts the morale of our sales teams. Moreover, the Co-op campaigns ensures effective and efficient collaboration on the brand.”
Mr. Anil Goyal, Director of Saraf the jeweller says, “We are very positive for the upcoming season and I am sure that in Platinum jewellery category we will grow more compared to last year same period. Since last year our
enquiries has increased and so is our focus and product range.
Yes, we are starting our season’s discount scheme from 12th Oct to 11th Nov 2018. We offer flat 15% discount on diamond jewellery and 10% discount on gold jewellery making charges.
We are expecting to grow minimum by 60% (as compared to last year, last quarter)
PGI has always been helpful, we got support in terms of staff being trained, in store branding, display material and also co-op marketing campaigns. To motivate our sale staff further we have also jointly started giving incentives during different campaigns.”
Mr. Nirmal Jain – Partner, BN Jewellers, says, “We are quite optimistic with the forthcoming season. Last month in term of demand was relatively slow, however, now that the shraaddh period is over, we are hopeful that the footfalls in stores will increase.
As a manufacturer, we don’t offer schemes. Our way of extending our support is the customized order (basis customer’s demand) which helps a retailer achieve better sale conversion rate. We expect a minimum growth of 20-25% over the last year.
PGI is a great facilitator between the retailers and the manufacturers. The market learnings they share on a regular basis supports us in developing a product strategy that is relevant and competitive.”
