Wednesday, September 27, 2023
MediaNews4U
  • Exclusive
  • Advertising
  • Media
    • Radio
    • Cable & DTH
    • Print
    • Digital
  • Television
  • OTT
  • Impassioned
  • Marketing
  • Campaigns
  • Analysis
  • Opinion
    • Opinion
    • Think Through
    • Prescience 2023
  • People
  • Events
    • Leader Speak
    • STRAIGHT TALK
    • Gamechangers
    • Print & TV Summit
No Result
View All Result
MediaNews4U
  • Exclusive
  • Advertising
  • Media
    • Radio
    • Cable & DTH
    • Print
    • Digital
  • Television
  • OTT
  • Impassioned
  • Marketing
  • Campaigns
  • Analysis
  • Opinion
    • Opinion
    • Think Through
    • Prescience 2023
  • People
  • Events
    • Leader Speak
    • STRAIGHT TALK
    • Gamechangers
    • Print & TV Summit
No Result
View All Result
MediaNews4U.com
No Result
View All Result
Home Exclusive

Jewellers look to make the most of pent-up demand this festive season

Gold may take lion's share, but diamond, gemstone and platinum jewellery increasingly finding takers, say players.

by Neethu Mohan
September 12, 2022
in Exclusive, Featured
Reading Time: 4 mins read
A A
Jewellers look to make the most of pent-up demand this festive season
Share Share ShareShare

Consumer sentiments towards gold purchases during the festive period were muted for the last two years due to the pandemic, which had an adverse effect on the entire industry. The impact on discretionary spending was perhaps more pronounced than in other categories.

As the consumer economy shows glimpses of normalcy, jewellery brands in the country are very optimistic about the ongoing festive season.

MP Ahammed
Ahammed MP

“Consumer demand and sales were somehow muted during the festive seasons both in 2020 and 2021 due to the impact of the pandemic waves on consumer sentiment, economic activities and overall buying power. Cautious approach led to subdued festive demand and postponed weddings during 2020. However, consumer sentiment looked up during Dussehra and Diwali in 2021 on the back of relaxation in Covid restrictions, vaccination drive and the gradual revival of the economy,” says MP Ahammed, Chairman, Malabar Gold & Diamonds. 

Therefore, Ahammed expects a robust consumer demand in the upcoming festive season driven by positive consumer sentiment and pent-up demand.

“A softened gold price is likely to act as a potent trigger to drive sales in the upcoming festive season. We are bullish on the upcoming wedding season as well,” he adds. 

Parag Shah, Director, HK Jewels
Parag Shah

Parag Shah, Director, HK Jewels, echoes a similar opinion.

“Consumer sentiments this festive season have picked up in a big way. Compared to the 2020 and 2021 festive seasons, the big public celebrations are back. Consumers’ mood has picked up and they are eager to celebrate. We are already seeing an increase in consumer spending,” he says. 

Shah further adds, “During the pandemic, we saw a shift towards customers using e-commerce and digital platforms to discover and interact with the brand. As we normalise again, we foresee a shift back to the in-store retail experience. However, online channels and e-commerce will continue to be an integral part for consumer awareness and a medium to tap into the younger generation.”

Amit Pratihari, General Manager, De Beers Forevermark
Amit Pratihari

As the festive demand kicks in, Amit Pratihari, General Manager, De Beers Forevermark, is optimistic that this year’s festivity will be strong since all markets are completely operational after two years.

What’s Selling? 

Speaking on the products that tend to see a spike in sales during the festive season, Ahammed says, “The consumer choice spectrum is increasingly becoming more diverse. From the category perspective, although gold jewellery is set to dominate the festive demand dynamics due to its investment value and socio-cultural affinity, diamond, colour gemstones and even platinum will strengthen their market share banking on new-age sensibilities.”

“As far as designs are concerned, Malabar Gold’s both traditional and new-age designs, fusion as well as evolved design innovations will find takers in the upcoming festive season. We have all the elements in our product portfolio to appeal to a broader range of consumers,” he adds.

According to Shah, heavier festive jewellery will always be in demand. 

“There has been a spike in diamond jewellery because it complements traditional, western, and indo-western festive wear. We have seen consumers shifting to wearable diamond jewellery pieces across categories of rings, pendants, necklaces, and earrings that can be worn every day and for smaller occasions and festivals,” he adds. 

“No doubt, the jewellery industry is witnessing a tremendous demand and in recent times, we have noticed a shift in consumer buying patterns too as they are now more inclined to purchase items that hold meaning and value,” says Pratihari. 

According to Pratihari, owing to their inherent preciousness, diamonds are more sought after and have seen a rise in demand. 

“While the year 2020 was a setback due to the pandemic, the industry made an enormous comeback last year. There is still a pent-up demand for jewellery and hence we foresee that this festive season will be extremely strong, accelerating the momentum of diamond jewellery sales. We are already seeing a huge demand for all our designs, especially everyday classic jewellery like the Forevermark Avaanti Collection for which we are also launching an extension line this season which will be the focus of our festive campaigns,” he adds. 

Harvesting the Festive Spirit

Speaking on the marketing spends during the festive season, Ahammed says, “It’s obvious that jewellers earmark the major share of their annual advertising and marketing budget for the festive season to create the maximum buzz. Given the steady revival of the consumer sentiment, jewellers will surely scale up their festive marketing budget to capture the attention of their target consumer segments.”

“For us, planning an advertising budget is a strategic decision based on the consumer outreach strategy of a particular campaign. The budget is decided on the basis of demographic spread, media mix, media consumption habits of the target consumer segments, etc.” he further adds. 

“As consumer spend is picking up and the big celebrations are back, we are expecting to see a definite increase in marketing spend,” says Shah. 

“With the festivities in full swing, we are expecting a double-digit growth this festive season. With this growth outlook and strong demand, we continue to strengthen our brand through our authorised partners, our e-commerce platform, and our exclusive boutiques across the country,” concludes Pratihari.           

Tags: Amit PratihariDe Beers ForevermarkFestive SaleMalabar Gold & DiamondsMP AhammedParag Shah

RECENT POSTS

Indian startups write to TRAI in support of Net Neutrality
Featured

Indian startups write to TRAI in support of Net Neutrality

September 26, 2023
0

Around 128 startup founders, including Zerodha’s Nithin Kamath, Paytm's Vijay Shekhar Sharma, PhonePe's Sameer Nigam, and Razorpay's Harshil Mathur have...

Read more
MRUCI elects Shailesh Gupta as Chairman, Shashank Srivastava as Vice Chairman
Featured

MRUCI elects Shailesh Gupta as Chairman, Shashank Srivastava as Vice Chairman

September 26, 2023
0

The Media Research Users Council India (MRUCI) held its 29th Annual General Meeting September 26. Shailesh Gupta, Wholetime Director, Jagran Prakashan Ltd...

Read more
Haldiram celebrates India’s love for food with ‘Dhina Dhin Dha’
Campaigns

Haldiram celebrates India’s love for food with ‘Dhina Dhin Dha’

September 26, 2023
0

Haldiram's launched its restaurant television commercial with the tagline "Dhina Dhin Dha". The film marks the brand's evolution from packaged...

Read more
Stayfree ropes in Kiara Advani, PV Sindhu to amplify ‘Talk to sons about periods’ message
Campaigns

Stayfree ropes in Kiara Advani, PV Sindhu to amplify ‘Talk to sons about periods’ message

September 26, 2023
0

Continuing with its award-winning ‘Talk to your sons about periods’ initiative, Stayfree has roped in actor Kiara Advani and shuttler...

Read more
ETML wins digital mandate for Lenskart in Middle East
Featured

ETML wins digital mandate for Lenskart in Middle East

September 26, 2023
0

Growth advertising and analytics company ETML bagged the digital mandate for optical brand Lenskart in the MENA region. ETML will...

Read more
Japanese brand Uniqlo ropes in Katrina Kaif as first Indian Brand Ambassador
Featured

Japanese brand Uniqlo ropes in Katrina Kaif as first Indian Brand Ambassador

September 26, 2023
0

Japanese fashion giant Uniqlo has tied up with actor Katrina Kaif as its first Indian brand ambassador. Uniqlo’s brand ambassador,...

Read more

LATEST NEWS

MRUCI elects Shailesh Gupta as Chairman, Shashank Srivastava as Vice Chairman

MRUCI elects Shailesh Gupta as Chairman, Shashank Srivastava as Vice Chairman

September 26, 2023
Haldiram celebrates India’s love for food with ‘Dhina Dhin Dha’

Haldiram celebrates India’s love for food with ‘Dhina Dhin Dha’

September 26, 2023

ANALYSIS

Chrome News Track 25th September: India Canada Diplomatic Row, Share Market-News
Analysis

Chrome News Track 25th September: India Canada Diplomatic Row, Share Market-News

September 26, 2023
0

Chrome Digital Track data on the most watched news stories online (Chrome News Track), is brought to you by Medianews4u.com....

PEOPLE

MRUCI elects Shailesh Gupta as Chairman, Shashank Srivastava as Vice Chairman
Featured

MRUCI elects Shailesh Gupta as Chairman, Shashank Srivastava as Vice Chairman

September 26, 2023
0

The Media Research Users Council India (MRUCI) held its 29th Annual General Meeting September 26. Shailesh Gupta, Wholetime Director, Jagran Prakashan Ltd...

Hari Nair joins Tips Industries as Chief Executive Officer

Hari Nair joins Tips Industries as Chief Executive Officer

September 25, 2023

MARKETING

Japanese brand Uniqlo ropes in Katrina Kaif as first Indian Brand Ambassador
Featured

Japanese brand Uniqlo ropes in Katrina Kaif as first Indian Brand Ambassador

September 26, 2023
0

Japanese fashion giant Uniqlo has tied up with actor Katrina Kaif as its first Indian brand ambassador. Uniqlo’s brand ambassador,...

Subscribe to Newsletters

ADVERTISING

Cross-border Influence: Insights from Ujaya Shakya in Nepali Advertising
Advertising

Cross-border Influence: Insights from Ujaya Shakya in Nepali Advertising

September 26, 2023
0

Ujaya Shakya, Founder of Outreach and author of BrandSutra, spoke at the InsightView Series organized by the Advertising Club Madras....

End of a legendary inning, start of another: Piyush Pandey moves to Chief Advisor role at Ogilvy

End of a legendary inning, start of another: Piyush Pandey moves to Chief Advisor role at Ogilvy

September 26, 2023
Hamdard appoints mSix&Partners as integrated media agency for medicine portfolio

Hamdard appoints mSix&Partners as integrated media agency for medicine portfolio

September 25, 2023

PRINT

Rajasthan CM Ashok Gehlot launched Jaipur edition of 3 newspapers
Featured

Rajasthan CM Ashok Gehlot launched Jaipur edition of 3 newspapers

September 9, 2023
0

Jaipur witnessed a significant milestone in its media landscape as Hon’ble Chief Minister Shri Ashok Gehlot inaugurated the Jaipur editions...

‘Made of Chennai’ to be annual IP of The Hindu Group

‘Made of Chennai’ to be annual IP of The Hindu Group

August 10, 2023
After Bharat Express channel, Upendrra Rai to launch Hindi print daily

After Bharat Express channel, Upendrra Rai to launch Hindi print daily

August 3, 2023

THINK THROUGH

Opinion: After paying back 40K crore why would Mr Chandra default on 200 Cr to Yes Bank
Opinion

Opinion: After paying back 40K crore why would Mr Chandra default on 200 Cr to Yes Bank

June 18, 2023
0

One of the much-awaited merger deal in Indian Media and Entertainment ecosystem that is expected to create a largest Broadcast...

UPLIFT MEDIANEWS4U DIGITAL PVT LTD
No. 194B , Aram Nagar 2, JP Road,
Versova, Andheri West
Mumbai - 400061

For editorial queries:
[email protected]
[email protected] (Mumbai)
[email protected] (Bengaluru)

For business queries:
Smitha Sapaliga - +91-98337-15455
[email protected]

Recent News

Star Bharat Announces the Return of Three Beloved Shows: Saubhagyavati Bhava: Niyam aur Shartein Laagu, Savdhaan India: Criminal Decoded and May I Come in Madam?

Star Bharat Announces the Return of Three Beloved Shows: Saubhagyavati Bhava: Niyam aur Shartein Laagu, Savdhaan India: Criminal Decoded and May I Come in Madam?

September 26, 2023
Indian startups write to TRAI in support of Net Neutrality

Indian startups write to TRAI in support of Net Neutrality

September 26, 2023
MRUCI elects Shailesh Gupta as Chairman, Shashank Srivastava as Vice Chairman

MRUCI elects Shailesh Gupta as Chairman, Shashank Srivastava as Vice Chairman

September 26, 2023

Newsletter

Subscribe to Newsletters

Medianews4u.com © 2019 - 2023 All rights reserved.

  • The South Side Story 2023 Download Report
  • Goafest 2023: Day 3
  • Goafest 2023: Day 2
  • Goafest 2023: Day 1
  • Straight Talk Gallery 2022
  • The South Side Story 2022 Download Report
  • Focus 2022
  • Futurescope Conclave Gallery 2022
  • The South Side Story 2021 Download Report
  • FOCUS 2021
  • Exclusive
No Result
View All Result
  • Exclusive
  • Advertising
  • Media
    • Radio
    • Cable & DTH
    • Print
    • Digital
  • Television
  • OTT
  • Impassioned
  • Marketing
  • Campaigns
  • Analysis
  • Opinion
    • Opinion
    • Think Through
    • Prescience 2023
  • People
  • Events
    • Leader Speak
    • STRAIGHT TALK
    • Gamechangers
    • Print & TV Summit

Medianews4u.com © 2019 - 2023 All rights reserved.