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Why International Women’s Day is all set to catapult into a big sales day for jewellers

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Long before it became identified as a red-letter day for sales in businesses worldwide, International Women’s Day charts its roots down to a strike. On March 8, 1857, female textile workers protested unfair working conditions, long days and poor wages, and marched in New York City; in 1910, it came to be annually observed as International Women’s Day. In the last two decades, March 8 has become a highly commercialized event worldwide, fuelled by marketing campaigns by businesses, especially the apparel and jewellery industry. And the scene in India is not much different.

Deeper Engagement

On March 8, 2023, most leading jewellery brands and retailers marked the occasion with elaborate social media campaigns, online offers, and in-store events. Sri Vasavi Thanga Maaligai Jewellers in Tamil Nadu hosted a special in-store event and invited many prominent women from various backgrounds to speak to attendees. “The celebration not only highlighted the accomplishments of women but also raised awareness about the issues they face in their daily lives. As a company, we are proud to say that we practise gender equality by ensuring that our hiring and promotion practices are fair and unbiased,” said Meda N Ravi, Managing Director, Sri Vasavi Thanga Maaligai Jewellers.

The keynote speaker, a well-known teacher named Thenralarasi, shared her experiences of overcoming obstacles and achieving success in a male-dominated industry. She also talked about the importance of supporting other women and encouraging them to follow their dreams. The celebration ended with a performance by Sivanesan, Kalaivani, Abinesh, Jeya Krishna Moorthy and Arun Karthik, who performed songs and poems in tandem with the relevance of the occasion.

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The event was successful in creating footfall and boosting customer engagement, but in terms of sales, Women’s Day doesn’t necessarily translate into big business for the brand. Customers preferred to buy lightweight and simple jewellery, ranging from Rs. 10,000-50,000.

Some brands didn’t think too out of the box to celebrate Women’s Day — instead, they looked within their organization. “Our social media campaign was a video featuring 35 of our female employees at Ratnalaya Jewellers. They are our frontline officers and talked about their experience of working in the jewellery industry,” says Saket Keshri, Director, of Ratnalaya Jewellers. He admits that even 15 years ago, celebrating Women’s Day was not a consideration for the jewellery industry, but he appreciates the opportunity the day presents to connect with clients.

Datwani doesn’t think of Women’s Day as a marketing opportunity; instead, he calls it a “day to give back to our regular clients.” “This year, we shot a short film about one of our customers. She’s a young professional woman who works in a bank, is visually impaired, and has been coming to our store for five years. We wanted to celebrate her independent spirit because, through our relationship with her, she’s changed our perception of the kinds of clients we have. We released the film on Women’s Day on social media platforms,” says Datwani.

“Brands all over the world recognize one thing: customers want to feel seen and represented by the brand they’re associating with”

Ishu Datwani, Founder of Anmol Jewellers

Women’s Voices

Releasing short films has become a popular way to market special occasions, and Women’s Day, in particular, witnesses several such projects. “Brands worldwide recognize one thing: customers want to be seen and represented by the brand they’re associating with,” says Datwani. With that in mind, Everlite, Senco Gold and Diamonds’ lightweight gold and diamond brand, released #HearMeOut, a short film on Women’s Day. Speaking about the idea of the campaign, Joita Sen, Director of Senco Gold and Diamonds, says,

“While women create their own stories with their experiences, they often feel unheard about their daily challenges. Unless we listen to each other, we will never be able to understand, empathise and create a world based on the principles of equity and collective strength.” The campaign voiced the stories of women and ensured that their struggles were not left unheard.”

Joita Sen, Director of Senco Gold and Diamonds

Tap the youth

“We have a long way to go when it comes to generating the kind of sales Western countries experience during Women’s Day,” says Ishu Datwani, Founder, Anmol Jewellers. “In India, jewellery buyers are aware of the date because we market it, and it appears to be limited to urban women in Tier I cities. We’ve seen mature women between 35-40 years old come into our store to purchase items for personal use, classic Indo-Western designs, and wearable jewellery. Bracelets, rings, pendants, earrings sell, and the price point is usually between Rs. 1-3 lakh,” he says. And don’t make the mistake of ignoring the young female customers, says Aayush Khurana, Director, Khurana Jewellery House. “Young adults are coming to jewellery stores, and they know what they want. There is a perception that urban working women, or women over the age of 30, buy jewellery for themselves on Women’s Day. Many jewellers, including us, have marketed this occasion as a gifting opportunity for mothers, sisters, and female bosses.

“Women in the West are buying jewellery because they feel they deserve it. I think that mindset, and along with that, sales, will come along in another five years,”

Aayush Khurana, Director, Khurana Jewellery House

That perspective is already here, says Dishi Somani, Founder of Dishis Designer Jewellery.

“On Women’s Day, we noticed a surge in sales among young women. This may be attributed to the fact that the brand’s designs are contemporary and modern, which appeals more to the younger generation,”

Dishi Somani, Founder of Dishis Designer Jewellery

With the changing profile of customers, social media and e-commerce platforms have become increasingly crucial for the industry and according to a recent study, 72 per cent of global online shoppers are women. It presents a plethora of opportunities to jewellers to tap into this segment of buyers who are taking a new route to discovering and buying jewellery.

As per DeBeers Diamond Insight Report 2022, 68 percent of online buyers intend to continue buying diamond jewellery online. With more women joining the workforce in India, there is a parallel rise in their purchasing power. Women exert a significant impact on purchasing decisions, with one estimate pegging their influence at 85 per cent of all products and services.

Retail Jeweller India

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