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RJ Market Watch

Stock up heavily at IIJS Virtual. There is going to be twice as many weddings, Twice as many consumer buying opportunities now. I see a very very strong season. Loyalty towards gold and diamond jewellery has gone up tremendously. In tire 2 and 3 cities, Diamond jewellery is the first choice for wedding now



Mohit Anand of Harsahaimal Shiamal Jewellers feels marketing and good stocks will be the key to making up for most of the lost business

What do you feel about the IIJS Virtual?

I think the time is apt to hold the IIJS Virtual and I am sure GJEPC has done a tremendous job. The whole act of collating information and getting it on a platform where people can buy sets the mood for the festive season and also allows us to recover.

What kind of jewellery do you think will trend? What will you be looking at IIJS during IIJS?

We need to stock up heavily. We have missed out on the previous seasons. Because weddings got postponed from the first half of the year, now there will be twice as many weddings and buying opportunities. People have not bought or invested in jewellery for about six months, and like the automobile industry, the jewellery sector will also come back strongly. People have the money and want to invest in the market, which will also lead to revenge buying to an extent. Gold prices have gone up, so the industry has benefitted. People want to invest in gold, so I am looking at a very strong season.

I also see a huge spike in the purchase of diamond jewellery. Due to high gold prices, it is easier to purchase diamonds and people are more interested in studded jewellery.

Do you think we will be able to make up the losses in the upcoming 6 months? Will you achieve numbers similar to last year?

I think we will match the numbers from the previous year. The next six months will compensate for the whole year. If you look at the performance in the next 6 months, it will be new data altogether.

What will your advice be to fellow retailers for the next 6 months?

First, there will be shortage when the wedding season hits. The IIJS Virtual will not be able to meet up the demand in full. Better paymasters will get the goods first. The one with the most stock will win.

How important is marketing going to be in grabbing more of the market share?

Yes, I think you have to be seen in order to sell. You have to energise yourself and the game has to be played with more gusto.


Courtesy: Retail Jeweller India News Service

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