Built around women’s long-standing habit of saving in gold, the campaign encouraged customers to refresh existing jewellery, lifting exchange sales to half of the retailer’s overall business
Chennai: At a time when rising gold prices have made fresh jewellery purchases more difficult for many consumers, Pothys Swarna Mahal chose to mobilize gold that was already sitting inside households for the purpose. Its latest old gold exchange video campaign was built around a familiar habit among South Indian women, of accumulating jewellery over time as both an ornament and a form of financial security. The campaign encouraged women to view their existing gold as an opportunity to own jewellery that reflects their current tastes without making an entirely fresh purchase.
Beyond the campaign’s emotional narrative, the exchange offer itself proved to be a strong draw. Customers received an added value – Rs 450 extra per gram – over the market price of their old gold, while gaining the opportunity to upgrade long-held jewellery into modern designs, making the decision to exchange both financially and aesthetically appealing.
Supported by a digital-first campaign backed by print advertising, the 45-day initiative ran from mid-May to the end of June and targeted home-makers, who continue to account for a significant share of household gold ownership.
Explaining the thinking behind the campaign, Ashok Pothy, Director, Pothys Swarna Mahal Private Limited, said, “Demand for gold has remained subdued because of the sharp increase in prices. At the same time, many households, especially in South India, have accumulated gold over the years as an investment. We wanted to encourage women, particularly home-makers, to exchange those holdings for jewellery that matches today’s trends and tastes. By offering something extra over the prevailing market value on old gold, we gave customers another reason to make that change.”
The approach translated into a measurable shift in sales. Old gold exchanges, which typically contribute 30-35% of the retailer’s business, went up to 50% of overall sales during the campaign period. Alongside stronger participation from existing customers, the campaign also brought new buyers into the showroom through its combined digital and print outreach.
Pothy believes exchange purchases will play an increasingly important role in the jewellery business as consumers continue to treat gold as both an adornment and a dependable financial asset.
“Women have always looked at gold in two ways. It is something they wear for family occasions, but it is also one of the safest forms of savings they can fall back on during emergencies. I believe old gold exchange will become a much bigger growth driver for the industry in the years ahead. It allows customers to make better use of the gold they already own while also helping reduce the need for fresh imports into the country,” he said.
Pothys Swarna Mahal runs three retail outlets in Chennai, and five more across Tamil Nadu and Kerala.
Written by Aparna Bhowmick
Retail Jeweller India Exclusive
