Brands have already started increasing their budgets in the third quarter of this fiscal after cutting down on spends in the first two quarters due to the Covid pandemic. And 2021 will definitely see an increase in budgets compared to last year but brands will be cautious about the avenues they spend in, Sunil Nayak, CEO at Reliance Jewels, said in an interaction with BestMediaInfo.com.
There might be a shift in the percentage of spends allocated to various types of media compared to last year and the year before, he said.
For Reliance Jewels, while the spends on digital will continue this year with a substantial increase, it is also looking forward to more customer connect offline events and some traditional ATL media too.
Nayak said, âAs much as we hope and see the ATL marketing avenues slowly regaining momentum, there is a huge advantage that the digital media has gained last year. It allowed brands to be a part of their customersâ lives by way of day-to-day communication and engagement activities. It has now become a way of life for a majority and hence we believe that it will continue to grab a great mindshare of our customers and TG. At the same time, people have missed out on social gatherings and celebrations last year that allows them to unwind. And for the same reason we believe that BTL activations and customer connect activities offline that enable conversations and entertainment will be big in 2021.â
The jewellery brand is looking forward to its customer engagement activities, gatherings, workshops with its patrons and prospective customers this year.
Nayak said the Covid-19 scenario proved that relationships and customer bonds are the foundation of any business.
âWith unforeseen events like this, if a brand continues to understand the situation, care for their customers and employees and is thoughtful about what is best for their customers, it will continue to come out strong and will be able to sustain through testing times,â he said.
Talking about the jewellery category, he said that more and more people have started looking at gold as a good investment option and so the demand for gold is increasing. Investment in gold is certain to bring good returns. The fall in property market and the fluctuations in the share markets have only accentuated this trend, he said.
The brand is seeing an increasing demand in day-to-day adornment and contemporary jewellery pieces. Purchases have started happening regularly for all these occasions at its showrooms and Nayak is positive that it is going to increase this year.