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Monthly lucky draws, linking rewards to every sale, help Vardhman Jewellers notch up business growth of 25-30% 



Monthly lucky draws, linking rewards to every sale, help Vardhman Jewellers notch up business growth of 25-30%

The activity began in mid-September of 2023 to capture the increasing demand before Diwali and continued up to January 31, 2024 

Jabalpur: At the end of January, Vardhman Jewellers from Jabalpur concluded a monthly lucky draw scheme that it had been running since September 2023, which not only increased customer engagement and differentiated it from competition, but also boosted sales. For the retailer, the lucky draw activity linking the prospect of an additional reward to every sale has been a successful strategy, and has resulted in new customer acquisition as well as business growth to the tune of 25-30% every year. 

“Every year, we have seen business growth of 25-30% because of the lucky draws. We also acquire new customers who look for add-ons such as gifts when buying jewellery,” said Prabhat Jain, Owner of Vardhman Jewellers.

Since the inception of the brand in 2008, lucky draws have been regular at Vardhman Jewellers. It has been conducting monthly lucky draws and also holding awareness workshops about HUID, diamond jewellery and other aspects of precious gems and jewellery concurrent with them. Every customer buying jewellery worth Rs 10,000 at the brand’s showroom was given a coupon. People buying ornaments of higher value got more coupons – for instance, a customer who bought jewellery worth Rs 5 lakh got 50 such coupons. There were two copies of each coupon, one of which was kept inside a lucky draw box and the other was given to the customer concerned. This year, the contest drew a record 1,000 entries. Gifts worth Rs 22 lakh were given away through the contest, ranging from washing machines, ACs, music systems, LED TVs, refrigerators, microwave ovens, and other electrical appliances and going all the way up to Hyundai Activa cars. There were 200 consolation prizes apart from premium prizes for the top 10 winners. The prizes were announced during an event near the brand’s flagship showroom at Malvi Chowk in Jabalpur on February 11. 

“The entire process was transparent and involved customers who were blindfolded and made to pick coupons in front of the audience, with only a professional anchor and the customer concerned on the stage,” concluded Jain. 

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