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<ul><li>With an aim of ensuring the safety of all its stakeholders, <keyword id="138037" type="COMPANY" weightage="20" keywordseo="Tanishq">Tanishq</keyword> has been ramping up its digital offerings and reaping the results.</li><li>With the help of video calls and Whatsapp chats, the brand has been able to not only smoothen the consumer journey but also bring in sales of close to Rs 100 crore, just through video calls.</li><li><keyword id="305348" type="PERSON" weightage="20" keywordseo="Ajoy-Chawla">Ajoy Chawla</keyword>, CEO, Jewellery Division at <keyword id="1824765" type="COMPANY" weightage="20" keywordseo="Titan-company">Titan Company</keyword> Ltd talks to us about all that the brand has been doing to bring consumers back to the segment and how it plans to grow its business in the future.</li></ul> We are living in unprecedented times, and the last few months have been a test for all of us. The Covid-19 <keyword id="91743" type="PERSON" weightage="20" keywordseo="lockdown">lockdown</keyword> brought businesses to a complete halt, and resulted in many changes in the way we live and consume. Over the past few months, most brands have observed massive changes in consumer behavior and the next few months might go in analyzing these changes. However, things are now slowly opening up and while we are still some distance away from going back to our normal lives, we are seeing some semblance of normalcy returning to our lives on a day-to-day basis. It has been interesting to understand how brands weathered this storm and how many came out of it relatively less impacted. It is also interesting to see how they are slowly getting back into the game and ensuring that the impact of this unprecedented situation is minimized on their businesses. With the festive season on us, brands are hopeful. This is usually the time when brands see a lot of demand and a lot of hope rests on this year’s festive as people want to feel good and there is a hope that some of the consumer spending will come back. We recently caught up with Ajoy Chawla, CEO, Jewellery Division at Titan Company Ltd who told us all that has happened at Tanishq in the last few months, how the brand is preparing for the future. As a brand, Tanishq is giving a massive push to not just its digital presence, but also the way it is conducting its business. The brand had been on a journey to become digital-first and its plans got accelerated due to the Covid-induced lockdown. Using Digital to grow While the lockdown is slowly opening up across the country, the pandemic is far from over and people realize that. Tanishq has done a lot of social listening and is aware that people are skeptical about visiting showrooms. To help them get rid of this fear, while also ensuring their business is not hampered, Tanishq has been devising a 360 degree digital plan to help consumers complete their journeys. With the help of video calls, Whatsapp chats and virtual appointments, Tanishq has launched the ‘Endless Aisle’ concept that gives consumers an access to almost its complete inventory. The video calling and endless aisle facility have already been rolled out in 260 out of its 330 stores. “Our video calling offering has gained so much traction since we launched that we have already served close to 4000-5000 customers. Moreover, we've done around Rs 100 crore of sales through video calling alone in the last 2 months,” shared Chawla. He also said that they have been doing about 10,000 to 12,000 live Whatsapp chats a month. “We have also noticed that our <keyword id="836280" type="PERSON" weightage="20" keywordseo="online-sales">online sales</keyword> have exploded and gone through the roof. It was a small number but it has grown four times,” he added. He also shared that a lot of these consumers aren’t exactly savvy online buyers but people who are relatively newer to online purchases. In most cases, 90% of the consumer journey is getting completed virtually and consumers just need to go to the showrooms for trial and make the final purchase, thereby reducing risk and ensuring safety for them. Chawla believes that collaboration between online and offline is the way forward for the brand. It is also been doing its bit to make its showrooms safe, and Chawla says that their efforts are being noticed by consumers. “We are making sure that all stakeholders, be it our employees or our consumers are safe. In fact, our safety measures are so good that we have had consumers tell us they feel safer at our showroom than in their own homes,” says Chawla with a laugh. Anticipating a good festive season Usually, the festive months are important for jewellery brands and this year, a lot of hopes rest on the next few months. Chawla says he is hopeful for a good festive season. “If I go by how things are right now, there’s no reason why we won’t see a good festive season. Realistically, we can’t expect it to be 100% as last year but even if it is around 80-90% of last year, that’s good. We are already seeing good recovery,” he said. The brand is aiming for full recovery by Q4. Currently, close to 90% of the brand’s showrooms are already up and running and each of the stores have been seeing good, gradual recovery. On why he thinks consumer sentiments might become positive, he said, “People are a little tired now of this entire experience. They now want to come out and feel good about something. They might not buy as much as they otherwise would have but maybe they will buy lower weights, or smaller pieces, but at the end of the day, they would want to feel good. With the deferred festive season and weddings falling in the second half, we are expecting the second half of the year to be better.” The brand will come up with festive campaigns and also come up with a new collection. Tanishq’s growth and marketing strategy Despite being hit by the lockdown, Chawla shared that the brand opened 9 new stores. “We are not slowing down, we have just taken a pause,” he said. To bring people back to the brand, Tanishq will be working on launching new collections. “New collections, design differentiation and design-led desire creation has been a pillar of growth for Tanishq and will continue to be so,” he added. He further said that the brand will continue launching offers and promotions during the festive season. It has been getting good traction on its Golden Harvest scheme as a part of which the buyer has to pay 10 monthly installments (minimum Rs 2,000), the maturity of which starts after 300 days from the date of enrollment. The buyer is eligible for a 75% discount of one month installment upon the completion of 365 days from the date of joining. The brand has plans to further strengthen this offering and attract more customers. Moreover, as a pilot, the brand is also offering the best gold rates to consumers in certain markets and based on the reception, it will expand this offering to the rest of the country. It will also give a push to its digital initiatives. “We will be heavily present on digital platforms, and on social media. We will focus more on one-to-one conversations with customers. We have close to 10,000 people in our ecosystem. When they reach out and make a video call everyday, that’ll make a huge number. So we will work on scaling this up. You will see more personalized communications and direct connects with our consumers,” he added.

Tanishq has brought in around Rs 100 crore sales through video calls in the last 2 months

Mumbai, May 10 () With retailers starting to open their shops in green zones, the gems and jewellery industry is slowly inching back towards normalcy, but is witnessing just 20-25 per cent sales. The Ministry of Home Affairs (MHA) has allowed shops to open during the lockdown, which has been extended till May 18, for essential commodities and standalone business establishments of non-essential goods. All India Gems and Jewellery Domestic Council (GJF) Chairman Anantha Padmanabhan told that jewellers have opened shops in few states after taking permission from local authorities in the last one week. "These retailers are doing 20-25 per cent business as people are coming to buy wedding related jewellery as gold prices are going up and also those who had bought gold online during Akshaya Tritiya are also coming to redeem their purchases," he added. Gold prices in India are currently ruling at Rs 45,000 per 10 grams, he said. The jewellers' body is keeping an eye on how COVID-19 situation pans out till May 18 and what decisions are taken by the government, he added. In Tamil Nadu, Padmanabhan said jewellers have approached authorities to allow them to open shops. "We have sent representations to the authorities to allow us to open shops. We will take all precautionary measures under the government guidelines to curb the pandemic," he added. Meanwhile, Kalyan Jewellers has opened 10 stores in the last week, one each in Odisha, Assam, Puducherry and seven in Karnataka after getting clearance from state governments. "We have opened 10 stores in India since last one week and are taking all safety measures for curbing COVID-19 pandemic, including social distancing, store and hand sanitization among others. "These stores are opened after discussions with the local governments. Currently, we are witnessing wedding related purchases," Kalyan Jewellers Executive Director Ramesh Kalyanaraman said. He said the company has enough inventory to cater to its customers and is constantly in touch with local governments and taking stock of the situation. "We are inventory ready and will open the rest of our stores once the local government gives the go ahead. Once all our stores are open, we expect business to come back to normal momentum within a month," he said. The company, which has 34 stores in the Middle East, has opened 13 of them in the UAE and Qatar, he added. Senco Gold and Diamonds has also announced reopening of its stores across green and orange zones in four states -- West Bengal, Odisha, Assam and Karnataka. Headquartered in Kolkata, the company plans to start operations across all locations in a phased manner following clearance by the concerned government authorities. "We have started operating at selected stores in four states after getting approvals from local government authorities. To ensure safe hygienic shopping experience for our customers and for the well-being of our employees, we will be following all suggested safety measures," Senco Gold and Diamonds Executive Director Suvankar Sen said. "We are ensuring contact-less shopping experience by using new age technology and emphasizing on digital payments," he added. The company is also promoting its e-commerce platform for shopping and is suggesting customers to do first round of selection with the help of e-catalog, prior to visiting the store. Meanwhile, Tanishq, a jewellery brand from Tata Group, on Saturday announced plans to reopen its 328 stores across the country in a phased manner by opening first 50 stores by Sunday. It would continue to comply with all rules related to COVID-19 lockdown, while reopening and running operations, the company said a statement. "We are reopening our stores in a phased manner because each store has to pass an eligibility test prior to re-commencing operations. This is to ensure each store is 100 per cent prepared to manage the store, staff and customers," CEO of jewellery division at Titan Company Ajoy Chawla said. SM RVK

COVID-19: Jewellers start opening stores, sales down to 20-25 pc

<ul><li><keyword id="31174" type="PERSON" weightage="20" keywordseo="brands">Brands</keyword> have seen early signs of recovery during <keyword id="126295" type="ORGANIZATION" weightage="20" keywordseo="Akshaya-Tritiya">Akshaya Tritiya</keyword> and <keyword id="6385850" type="UNKNOWN" weightage="20" keywordseo="Raksha-Bandhan">Raksha Bandhan</keyword> and their businesses are approaching normalcy. </li><li>After surviving the storm during the lockdown, brands have a lot of hope resting on the festive season to bring in cheer and profitability in their businesses. </li><li>With Ganesh Chaturthi around the corner, we decided to speak to a few brands across categories on how they are preparing for the festive season and what kind of expectations they have pinned on the latter half of the year for recovery. </li></ul>Brands are pinning a lot of hopes on the festive season this year to help them bounce back. They have started working on their advertising campaigns in full swing to win back consumer trust and help shape the <keyword id="29547" type="PERSON" weightage="20" keywordseo="Market">market</keyword> sentiment. The festive season, which begins in August and continues till January, often results in a disproportionate increase in demand of goods and services, marking an important period for most consumer brands. However, the pandemic this year has made consumers frugal and the current market unrest has taken a sharp toll on the total spends. As per Madison’s report, AdEx collapsed by as much as 65% because of COVID-19 in Q2, indicating how badly the economy has been performing so far. Last year for Television, the Indian Premier League (IPL), ICC World Cup and Elections in Q2’19 contributed around Rs 3,000 crore (34% to the TV AdEx in Q2’19). However, the pandemic removed both these money-spinners from the AMJ quarter this year, which has added to the decline. This year, brands are trying to come up with innovative solutions to reach out to their consumers at their door steps and are optimistic about seeing a stable growth in the next few months. Fashion e-commerce giant Myntra has seen early signs of recovery and <keyword id="1549018" type="PERSON" weightage="20" keywordseo="consumer-sentiments">consumer sentiments</keyword> picking up during Raksha Bandhan as it witnessed a surge in demand for women's ethnic wear, men’s occasion wear, kids wear, and accessories such as watches, handbags. It also saw 3.5 million customers shopping during the June edition of EORS, a testimony of how consumer sentiments are getting back on track. “The festive season, followed by winter, is the most exciting quarter for Myntra. This year we are expecting a massive scale and growth in festive buying as consumer sentiment continues to be strong. Myntra is already operating at a pre-lockdown scale, and this upcoming festive season will definitely help us in boosting our growth further. Our focus will continue to be on enhancing customer experience by providing high-quality merchandise in a curated and personalized store, along with safe and fast delivery. Our new customer acquisition is at an all-time high and we are ensuring we help them in all their lifestyle needs. We are witnessing a spike in our Tier II and Tier III customers and orders as well,” said Ayyappan Rajagopal, Head of Business, Myntra. Another new-age brand Melorra that specializes in modern jewellery, has managed to avoid the losses incurred by various other businesses during the pandemic months. It saw a 400% growth in the last financial year, and is confident of matching that level of growth with a strong performance in the upcoming festive season. “The festive season this year is expected to be even more impactful than the past for Melorra. Firstly, the lockdown that started in March slowed down the jewellery purchase due to disruption in the delivery logistics, and most of the people are looking to buy jewellery now that the deliveries have resumed. Given the pandemic, all festivities in the first 2 quarters of the FY was a washout, hence there could be a trend reversal during festive season – but not at the previous levels. Since the prices are also at an all-time high, customers would opt for lightweight and trendy gold jewellery that is not only stylish but also easy on the pocket. Melorra caters to women who live in the moment and do not keep gold stacked away in lockers like before. Hence, it is definitely a key period for the brand and the jewellery industry at large,” said Sharat Krishnan, Head of Marketing, Melorra. The festive season has always been the most important part of the year for the jewellery business. Titan has already seen 80% recovery because people are celebrating their milestones with their families at home. It has a campaign and launch of a new collection lined up for October. Ajoy Chawla, CEO Jewellery Division, Titan Company Ltd sees no reason why the festive season shouldn’t be as good as last year. “It would be as good as last year or slightly lesser. The most optimistic expectation is that it should be as good as last year. Even if it is 90% or 80% close to last year’s performance, that’s good. We’re currently seeing 80% recovery and this is my best estimate. We’ve seen this recovery because people are still celebrating milestones like anniversary, birthdays, etc. They understand that the reality is grim but how long can you keep your life on hold? They want to feel good. Also, Q3 is wedding season but the festive season is delayed this year so the season may start a little slower unless there are massive rebound cases. Some markets also take two steps forward and three steps back, there is always some fluctuation. However, after October, we are hoping to see more stability. We will also launch a new collection and campaign around October,” shared Ajoy Chawla, CEO Jewellery Division, Titan Company Ltd. On what the consumer sentiment would likely be this festive season, Nidhi Sinha, Head of Content, Mintel India said, "One of the most important things people are looking forward to once the restrictions of the pandemic are lifted is meeting friends and family. However, according to research from Mintel’s Global COVID-19 Tracker in August, 42% of Indian consumers are looking forward to meeting family and friends in person compared to 34% of consumers in early July. This desire has accelerated due to the onset of the festive season." Mintel's research data indicates that consumer sentiment is improving and there is more willingness to spend on luxury items and good brands in the market. Sinha added, "Ganesh Chaturthi, which is round the corner, would be one such important festival that would entail celebrations in a different way so as to be in line with the pandemic protocols. As people continue to be under restrictions due to the pandemic, this festival is expected to be low key compared to regular times. However, Mintel research highlights that 30% of Indian consumers are planning to spend more on clothes and accessories, presenting an opportunity for brands. This is indicative that people are planning to spend on indulgences despite a negative economic outlook. Brands like Gemini oil, Ferns and Petals and Cadbury have been very agile in talking about the changing face of the festivities and how it is an opportunity for people to spend such festivals at home with their loved ones.” Festive season is an important period for the retail industry. It is a time when consumer spending is at an all-time high. One of the leading sportswear brands PUMA has multiple new launches planned throughout the season to cater to increasing demand. Telling us how the consumer sentiment changed in retail, Abhishek Ganguly, General Manager, PUMA India and Southeast Asia said, “As we’re witnessing right now, online channels will continue to be a convenient option for consumers to shop. Given the precautions around health and safety, we are seeing people shop online or go to a store where they are confident about the hygiene measures being implemented. Having said that, as lockdown continues to be relaxed across the country, we are seeing a steady week-on-week increase in footfalls with consumers visiting our stores to buy fashion essentials.” On festive expectations, Ganguly added, “Over the last 3-4 months, we have been seeing steady growth across both our offline and online channels. The conversions have increased substantially from pre-Covid times as people exactly know what they want to buy and are shopping with a clear intent. Given the trend of how things are continuing to improve compared to the previous months, we are very hopeful of a strong September and October. We hope this trend continues through the festive season and beyond.” Electronics giant Philips has launched a few new products like Smart Hair Dryer, Eyebrows Trimmer this month to ride on the improving consumer sentiment due to the festive season. Gulbahar Taurani, Vice-President, Personal Health, Philips Indian Subcontinent, Philips India, said, “The trends indicate that this is going to be a good season. We will have our challenges in terms of supply chain, partial lockdown, movement of products because the number of COVID cases are going up. From a demand standpoint, we see a very positive sentiment. I believe that this is going to stay, which will drive the festive season. As a part of the festive season, we had a couple of new launches last month itself.” The furniture segment, which was on complete halt during the lockdown as it did not fall under essentials, is also gearing up for the festive months. Given that individuals are spending more time at home due to the lockdown, home-grown brand Pepperfry witnessed an uptick in demand for WFH furniture and décor. In fact, Pepperfry is already at 100% of its pre-lockdown sales volumes. Kashyap Vadapalli, Chief Marketing Officer &amp; Business Head, Pepperfry is now anticipating to see this trend boost their sales further as people continue to focus on making their home spaces better equipped for everything. The brand is upping its digital media game and has launched a new campaign called ‘Swadeshi is Great’. “Given that household products and celebrations at home play such an important role during the festive season, consumers are constantly looking to revamp/renovate the space such that the home category witnesses a natural upswing in demand during festivals. With this combination of consumer adaptation and brand innovation, we are positive about the consumers’ outlook and demand for categories like home décor and furniture. As consumers have become apprehensive with regards to shopping offline or even stepping outside, they are increasingly adapting to buying online. Our online business is already at 120% of pre-COVID levels. As we move along, we plan to keep innovating with digital tools to enhance our consumers’ buying experiences,” said Vadapalli. The sudden outbreak of the pandemic brought a lot of businesses to a standstill. However, one of the few sectors that have seen an upturn amid the nationwide lockdown is EdTech. Now, to evolve with changing times and to prepare for the upcoming festive season, upGrad is looking at altering its marketing strategy. It is shifting its spends towards TV as consumers would want to spend more time together, while supplementing it with digital. Telling us what kind of changes EdTech has gone through lately, Arjun Mohan, CEO-India, upGrad said, “Given the current scenario, consumer priorities are being re-calibrated. They are now undergoing a behavioral shift which is directly reflecting on their spends. Unlike earlier, individuals today have ample time and money to spend on upskilling options, which otherwise, was parked for a later date. upGrad has seen a big behavioral shift in the mindset of parents too towards learning online, as they have seen their kids benefiting from it in real-time. This is one of the major drivers that has created a massive demand for our specialised online programs, which not only enhances the domain knowledge, revise skill sets, etc. but also help professionals achieve desired career outcomes.” All brands voiced their confidence that the worst has passed, and the markets will only move towards normalcy hereon.

Festive Marketing: Brands are optimistic that improving consumer sentiments will help them bounce back and bring in profitability

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Tanishq has brought in around Rs 100 crore sales through video calls in the last 2 months

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COVID-19: Jewellers start opening stores, sales down to 20-25 pc

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Festive Marketing: Brands are optimistic that improving consumer sentiments will help them bounce back and bring in profitability

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