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Shree Menghraj and Bros Jewellers takes offline investment scheme online via lucky draw contest

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Shree Menghraj and Bros Jewellers takes offline investment scheme online via lucky draw contest

Investment schemes have been a part and parcel of jewellery brands since ages. It’s a more practical way for the people who love wearing jewellery and see themselves wearing new sets at comparatively regular intervals than those who keep their jewellery in their lockers.

It’s tough to break free from this age-confined mode of investment, but Shree Menghraj and Bros Jewellers broke that ice with a lucky draw contest.

Anil Valecha, partner, Shree Menghraj and Bros Jewellers, Bengaluru says, “We have been doing this investment scheme for the last 7 years, but only thought of bringing it online in April 2022 to grab the attention of not only millennials but also the entire Gen Z audience who are heavily active on Instagram.” It was difficult to get 100% attendance of every customer when the lucky draw contests used to take place in-store. But by going online, the brand could walk its audience through its transparent process of choosing winners, while gaining exponential attention.

The customers pay instalments in batches of Rs 1000 and Rs 2500 every month. Those who pay instalments of a particular month, automatically get themselves enrolled as contenders in the lucky draw. The winner stops paying the remainder of her instalments and can collect their jewellery then and there.

Over time, the brand has received a lot of participation enquiries from their Instagram followers. “This has also directed a lot of people to channel their investments wisely towards gold jewellery that give assured returns, in comparison to competitive products across industries that don’t. We are planning to scale this up from next year with involvement of celebrity influencers,” added Mr. Valecha.

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