Jewellery brands likely to spend over ₹450 crore in ads during festive season3 min read . Updated: 06 Oct 2020, 01:04 PM IST
- Television and print will lead the ad spends, while digital, radio and outdoor ads will see additional promotions
NEW DELHI : In a bid to woo customers and boost sales during the festive season, jewellery brands are expected to spend ₹450 crore on the advertising across platforms, media buyers have estimated. While television and print will lead the ad spends, digital, radio and outdoor ads will see additional promotions.
"Festive jewellery buying is considered auspicious in India and therefore it is expected that consumers will buy the precious metal. However, the ticket size of the purchase could be lower than last year. In such a scenario, jewellery brands will try to offer discounts/deals to ensure that customers do consider investing in gold or jewellery," said Dinesh Rathod, chief executive at media agency Madison Media Omega.
Titan-owned Tanishq launched a Durga Puja campaign to tap the eastern India market and promote its festive collection Aparajita. The company's advertising plan in terms of media weights, will be similar to last year. "..or maybe a shade better in terms of the media we have chosen to go with. And in terms of impact, we believe the impact will be even higher than what we had last year," said Arun Narayan, VP, category, marketing & retail, Tanishq, part of Titan Company Limited.
In a first, Tanishiq will promote its Ekatvam collection on the Indian Premier League (IPL) this year. "We are using the platform of IPL for the first time to create high decibel visibility. Apart from television, we're also on print, supported by a large digital presence. So we are going to town with this campaign," Narayan said.
Kolkata-based Senco Gold Ltd said that its advertising campaign will be tactical, promoting special puja collection titled Shakti. The advertising promotions will be a combination of print, television, digital and outdoors. Suvankar Sen , CEO of the Kolkata-based company said that they are expecting a 30-40% revival from the current situation during the upcoming festive season and are hopeful of reaching last year’s average monthly sales levels.
"The offers for festive will be discount-led and value-led. Economic crisis has affected everyone so creating products as per budget of customers is very important and discounts given on making charges or diamond value will give customers a chance to invest money in gold by buying jewellery and also gift their loved ones," he added.
Kalyan Jewellers is also running a campaign promoting discounts. The company is offering instant redeemable vouchers against purchases. The vouchers can be redeemed against special discounts on jewellery, with 20% - 50% off on making charges for gold jewellery and up to 25% off on diamond jewellery. The brand also has announced the Dhanteras pre-book offer, under which with 20% advance paid on the intended purchase value, customers can book their jewellery at current rates, and be assured of gold rate protection against price fluctuations.
“Festivals like Navaratri and Diwali have always been significant. This year, at Kalyan Jewellers we are focused on helping our customers extract maximum value from their purchases, with interesting discounts and offers. We aim to provide a safe and unmatched retail experience, with the best of jewellery paired with the best of offers – both in-store and online," said TS Kalyanaraman, chairman and managing director, Kalyan Jewellers.
Meanwhile, Kerala based Malabar Gold and Diamonds said it is focussing on light weight jewellery preferred by young women under its new Zoul collection this festive season. The jewellery brand is promoting the collection during the festive season through #EverChangingEverShining campaign. In terms of offers, it is offering customers an option to book jewellery by paying a minimum 10% in advance and get protected from the rise in gold rate.
(Suneera Tandon contributed to this story)