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RJ Market Watch

Add value, don’t drain with discounts



BR Designs finds an innovative way to increase the value proposition for its customers — by not offering price discounts.

Manoj Chakraborty

Jeweller s often feel oppressed
by discount-hungry customers. But BR Designs views discounting as a way to reward those who buy from the brand. Its answer to the problem is this: the gift of a small diamond on every purchase.

BR Designs has run this offer for the past two years, especially during Akshaya Tritiya and Diwali. A minimum purchase of Rs2 lakh qualifies a customer to avail this offer.

The size of the offer diamond is based on the amount of the purchase. For example, a Rs2 lakh purchase of diamond jewellery provides a 20-cent Forevermark loose diamond, seal-packed with complete authentication of origin and quality.

“Jewellers give iPhones, cars or travel packages as gifts,” says Hardik Shah, director, BR Designs, “but we wanted to promote diamond industry. So we give a loose diamond on every purchase.”

The response has been remarkable. “More than 80% of our customers who have received loose diamonds from our store,” says Shah, “revisit the store to get the loose diamond studded in jewellery.” The outcome is “a higher transaction value with these customers, and we build a personal relationship with them.” BR Designs is now planning similar offers that incentivise customers without plain discounting.

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