‘IIJS is carrying the same insightful tradition in a Virtual avatar IIJS virtual is coming at the right time as jewellers are hungry to stock up now’

Dr Saurabh Gadgil of PNG Jewellers is pumped about the virtual format of the IIJS, and plans to ideate and exchange ideas with industry leaders. His only advice for the sector: Stand together and we shall overcome

What are your thoughts on the IIJS Virtual this year?

I would say, hats-off to the organizers for the way the event has been brought together. The GJEPC, led by veterans with unique ideas, has shown us how amazing they can be. Every jeweller, small or big, is aware of the event and it is a must-attend on their calendars. It is where you should be if you want to exchange ideas and understand the industry’s vibe for the festive season. Going virtual is a huge paradigm shift for the IIJS, but then, the new normal is about doing things online in a different way. Today, people are going digital even in small towns, so the step is fantastic. It makes the life of the manufacturer and wholesaler much easier because the risk of logistics is low as there is no travel involved. For retailers and storeowners, it is easier because things are more concisely available at the click of the mouse. There is proper categorization and the liberty to choose your language. It is also happening before the festive season, so sales will be affected by how well this goes. For very small jeweller, this is a brilliant idea and we are pumped up to look at virtual designs, talk to people, learn more and ideate. There will be one-on-one sessions, so there will be no disturbance, and no one gets sidelined. It’s been accepted not only in India, but the whole world. IIJS is one of the leading global jewellery exhibitions, so this is the right step ahead.

What will you be looking at in products at the IIJS? What are your focus categories going to be?

Everyone is very hungry to buy new products because the last six months have been tepid in terms of business. But things are looking considerably brighter for the past two months. There’s movement as gold prices have corrected. In Maharashtra, we had the Adhik maas (extra month). Its an auspicious time that comes one in three years. So people took advantage of the occasion to buy jewellery for different purposes. Sentiments are high and all categories saw good sales in September. At IIJS we will have a planned approach and research what is selling before we buy. This will help us stock the right items for the festive season. Customers are more informed now. Although footfalls are lower, the ones coming to us are serious buyers who have done their research. We must be equipped to understand their psyche and get them the product they are looking for. Our list comprises a lot of lightweight options. Even for kundan and polki, which tend to be on the heavier tangent, people are looking for lighter options, like small earrings and machine bangles.

What would you like to tell other retailers and manufacturers attending IIJS?

Our industry is being looked upon as the one that will rise quickly from the crisis, so all of us involved in the trade should come together and help each other. Let’s make the most of the season as a team. Let’s support our craftsmen and karigars, as they are the pillars of the industry. Together, we will cross every hurdle. It’s a great time for karigars and manufacturers to come together after the tough time that lost many of us our livelihoods. Retailers should do their research and stock correctly for the upcoming high season. We need to support each other, and together we will grow.

Do you think the sales for the financial year 2020-21 match last year’s? What’s your advice for jewellers?

We will cross last year’s sales as gold prices have gone up by 30%. The real key is going to be quantity. Personally, we will see a 10-20% dip. But on the other hand, we have cut costs too. So, the bottom-line is going to be bright. We have become agile and competent. There is less travel and fewer number of people. All this will make us more robust and cost-efficient. This is going to be a very good strategy going ahead. These last months have been fruitful for the industry because things are digital now, so a lot of ideas have been exchanged. It is only a matter of time before good times come knocking.

Courtesy: Retail Jeweller India News Service