In an informative and detailed presentation, Hitesh Malhotra, Chief Operating Officer, Nykaa, spoke about how to build loyalty. The presentation had everyone spellbound.
Malhotra said, “The retailers need to understand the split of the consumers and create opportunities for them. They need to understand the consumer touchpoints – social media, blogs. One needs to understand the media consumption pattern as well.”
According to him, the jeweller needs to understand the business goals in loyalty. “Customer conversing about your products could also be a form of loyalty,” says he. According to his data, if consumers come through referrals, 71% of the consumers will purchase.
He also highlighted the need to extract right perspective from the data points. “As per our data, our of 100 visitors, five initiates chats, four go for Nyka decodes, 37 people compare prices, 10 for the prodcast, five add products to the cart, three would check for offer and finally, two end up purchasing.”
He also added, “Acquiring consumers is three-face journey – educate, motivate and facilitate. And, jewellers are expert in facilitating.”
