Small town India is the next growth bastion of jewellery brands. The tier two and three markets have traditionally been captured by the unorganised retailers, but with growing digitisation and brand awareness, the appetite for bigger brands is increasing in the smaller markets.
Cashing on this trend, Reliance Jewels, a subsidiary of Reliance Retail, is planning to expand into tier II and other smaller regions for robust business and revenue growth.
In an interaction with BestMediaInfo.com, Sunil Nayak, CEO, Reliance Jewels, said that while the brand continues to expand in metros, there is a huge focus on tier II and tier III markets because of rising demand for known brands.
This year’s festive season has been promising for the brand with double-digit growth over the last year.
“The positive response from a few store launches in tier II and smaller regions has made us focus more on regional expansion. The customers here are in search of jewellery from well-known brands that are unique, trendy with superior quality and has good customer service. Hence, that is what we are extending to our patrons in these markets,” said Nayak.
The brand will spend mostly on traditional ATL media and customer-connect driven activations at the BTL level. However, a concentrated focus of marketing on digital media, mainly on social media platforms, is rising. “With the growing digital age consumers and information, it is readily proving to be an effective media to engage with existing and prospective customers,” said Nayak.
To reach out to the customers and introduce to them its unique collections and services, the brand partners with e-magazines, affinity, lifestyle and wedding portals.
To have a deep customer connect via experiential marketing, Reliance Jewels has created various experiential zones in malls. In the digital and social media space, the brand engages with customers through various activities and contests.
According to Nayak, over the years, the brand has understood the evolving taste of consumers and millennials and altered its strategy accordingly. “We have seen a positive response for our marketing campaign ‘Be the moment’ that made jewellery buying moment-driven and not occasion-driven.
“With time, we kept changing and improving the look and feel of our showrooms to deliver an elevated experience for our patrons. Our product assortment is now collection-driven and, hence, offers a unique design for our customers,” he adds.
“We plan to focus on our exclusive designs, fair pricing and great quality coupled with our best experience to deliver to our patrons. We also look forward to mark our presence across the country and expand in various regions so that we can ensure our exquisite collections are easily available to everyone who is interested in purchasing unique jewellery designs along with great quality services,” Nayak concluded.