In the next three-four years, online jewellery brand Melorra plans to invest hugely on brand, experience centres and technology to fuel growth. In 2021, the brand wants to utilise its harmonious retail offering with the help of both online and offline presence in customer communication.
“As the largest distributed jewellery company, our focus will always be to reach our customers in the most efficient way and hence, TV+digital will be our key focus areas. Since we are opening up stores, we will be looking at increasing our experience centre visibility by strategic BTL activities,” Sharat Krishnan, Head of Marketing, Melorra, said.
As a young brand, Melorra has been growing considerably, and in the next 3-4 years, it expects its marketing budget to be 2x-3x of 2020.
“The evolution or revolution that we see on the content side via OTT or other content platforms like Instagram will continue to grow. This means their importance in the media mix will continue to rise as it has been in the past few years,” said Krishnan.
Melorra launched its first ATL campaign and offline experience centres in the fourth quarter. Krishnan said because of Covid-19, the brand had to delay some of their planned campaigns. “There are certain amounts of learning that we have from these campaigns and that, coupled with more consumer behaviour understanding, will serve as the backbone of our future campaigns to help us deliver the goals much better.”
Daily wear is the fastest-growing segment of the jewellery industry and has grown from 37% to 49% of the $85 billion industry in the last three years. Krishnan said the segment is likely to continue growing in 2021, which means an increased focus on lightweight jewellery.
Speaking on the learnings from the pandemic, Krishnan said, “When constrained and while facing a paradigm shift, innovation and adaptability becomes a key. People will have to realign their thought processes and approaches in which they looked at a problem or situations. We had to unlearn a lot of things that we used to do previously and learn new things.”