Jewellers introduce attractive offers to gain sales this festive season

Expect sales to remain flat due to shortage of gold, weak sentiment

Faced with discouraging response from consumers, jewellers have introduced innovative schemes and freebies to attract business this festive season. While discounts on making charges have been a traditional means of attracting footfalls, jewellers have for the first time offered premiums over used gold.

 

“Sentiment in the jewellery markets remained very poor in the last few months. Hence, jewellers try to cover up a portion of that through offers and freebies. There is a huge scarcity of gold to meet consumers’ demand. Anticipating a recovery in sales during the Diwali week, we have introduced an innovative scheme to offer Rs 500 for every 10 grams of used gold recovered from customers. After confirming the caratage of the melted gold ornaments, we pay premiums over the actual price to consumers in order to collect the raw material,” said Haresh Soni, chairman of All India Gems and Jewellery Trade Federation (GJF).

 

Currently quoted at over Rs 32,000 per 10 grams, gold is priced at a premium of Rs 2000 due to the huge shortage of its availability on government’s tightening regulation over its imports.

 

“Jewellery sales remained lackluster in the last three-four months. We hope, with offers and freebies we will be able to cover the sales we lost in this period and achieve at least last year’s level during the week to Diwali.”

 

Albeit for a short period of just three days, Tanishq offers between 10.5-20% discounts on making charges on gold jewellery. On diamond ornaments, however, consumers can take home 0.25 gram of gold pendent free with purchase worth Rs 8000. The offer multiplies in proportion to the value of diamond jewellery.

 

Maya Jewels by Gitanjali offers two-night and 3-day hotel stay free in India across 46 cities and 60 hotels on every purchase. Gitanjali’s leading brands including Nakshatra, D’damas, Asmi and Sangini offer between 15-25% discounts on making charges on purchase of ornaments above Rs 10,000. Its gold jewellery collection has also huge discount on making charges.

 

Gitanjali has introduced monthly saving scheme for gold and diamond jewellery. Its Swarna Mangal is a gold savings scheme to get shining returns added to which is up to 60% discount on making charges. The company’s Shagun is a unique jewellery savings scheme plan offers upto 4.5 bonus instalments on diamond jewellery and other assured benefits too.

 

Orra Jewellery dazzles customers with upto 50% discount on making charges of 22 carat BIS hallmarked gold jewellery. It offers a shagun of 24 carat gold or silver coins free with diamond jewellery purchases worth as low as Rs 5001.

 

“Everyone looks forward to some special treat during festivals. So in addition to the existing offers, we are giving away 24 carat gold or silver coins depending upon purchase. We believe market may see ups and downs, but the significance of jewellery will never diminish, especially during auspicious seasons like Diwali,” said Vijay Jain, CEO and Director, Orra.

 

Discounts are not just about offering a value based incentive to the customer, but also offering designs that are unique and never seen before in the market, which is why customers can choose from a range of earrings, rings, bangles, necklace sets, ensembles and chains in 22kt gold, diamonds and timeless platinum, Jain added.

Tanishq

• Gold jewellery – 10.5-20% discount on making charges
• Diamond jewellery – 0.25 gm gold pendent on every Rs 8000 worth of purchase

 

Gitanjali

 

• Maya Jewels – two-night and three-day stay free in 60 hotels across India
• Nakshatra, D’damas, Asmi and Sangini – Between 15-25% discount on making charges

 

Orra
 

• Upto 50% off on making charges in gold jewellery
• A shagun coin of gold or silver free with diamond purchase