The India Jewellery Shopping Festival aims to boost the jewellery business by 30 to 35%

IJSF 2023, organised by the All India Gem and Jewellery Domestic Council, aims to increase young interest in jewels, encourage economic growth, and promote investments. Retailers could easily register digitally

The IJSF 2023, organised by the All India Gem and Jewellery Domestic Council, targets the induction of millennial consumers into the gems and jewellery industry, apart from achieving many other objectives.

The B2B scheme of the India Jewellery Shopping Festival (IJSF) 2023 by the All India Gem and Jewellery Domestic Council, which commenced on June 1, 2023, and will run up to October 30, 2023, aims to achieve a set of goals during the festival. Other than drawing a sizable number of Indian and international buyers to the festival, the event seeks to boost the country’s Gross Domestic Product (GDP).

Yet another one of its primary objectives is to include as many millennials and Gen Z customers as possible as part of the festival. However, the end goal is not only to generate income from these two generations of jewellery shoppers but also to highlight the value and importance of having a gems and jewellery portfolio in their investments, especially after the aftermath of the COVID-19 pandemic.

Manoj Jha, Joint Convener of the India Jewellery Shopping Festival, said, “Millennials are more fascinated by other industries like white goods, travel, etc. So, the whole concept of this India Jewellery Shopping Festival is just to gather the maximum crowd of millennials who are not connected with the jewellery industry and have new footfalls in the stores. We want to connect with them. Overall, we expect a 30% increase in sales by connecting with millennials and gaining the confidence of older consumers.”

While the India Jewellery Shopping Festival is a large-scale initiative by the GJC, the council has previously undertaken the Lucky Lakshmi initiative in 2006 and 2008, which saw the participation of about 1800 retailers, enabling the council to launch a bigger initiative in the form of this shopping festival.

So far, over 1300 retailers and 200 retail stores have already registered for the shopping event. Additionally, another 2000 stores are expected to register with the IJSF 2023. Whether they are big stores or smaller retailers, the registration process is open to all, except for the state of Tamil Nadu, which is not a part of IJSF 2023.

The enrollment process is completely digital, in line with the objectives of Digital India, and can be carried out through the IJSF mobile application. Retail jewellers from across the country, including Andaman and the Nicobar Islands, can register through this application. The only drawback of the process is that the registration limit is capped at 4000 to 5,000 stores.

“The entire India Jewellery Shopping Festival is being handled digitally and is extremely secure. No consumer data is involved, except for the customer’s bill number, which allows them to earn rewards,” said Jha. He further added that the prizes to be awarded to customers will be worth around 45% of the total revenue earned by the festival at the B2B prices.

Retail Jeweller India Exclusive