the jewellery buying experience
TRANSCRIPT
The Customer Experience Company
JewelleryConversations
Syamant Sandhir
Contemporary Jewellery Customer decoded
• 1. Is wearing jewellery as self expression / statement of taste / lifestyle
• 2. Invariably looking for handmade / artisanal / often customised piece
• 3. Is usually very informed / has a fairly trained eye which comes from long familiarity with fine products / has distilled taste / very aware of breakup between product and design value. And significantly is ready to pay the price difference if the product appeals to her.
• 4. Hazards the big ticket purchase only in comfort zones where
• - knows the jeweller
• - trusts an impeccable introduction / introducer
• is assured of clearly stated return / resale / exchange / policy
• - Internationally certifiable quality2
3
Most women we interviewed loved talking about jewellery They have a lot of pride in the unique stuff they own.
Women in Indian Metros
Have Money, Will Buy!
4
• Today jewellery for women, is like watches and cars for men.
• With an additional bonus, however! • • Unlike watches and cars it does not depreciate
in value over time.
The hook is: Design
5
• The jewellery shopper is definitely more discerning—she’s looking for new, fresh designs and not just brand names
Defining GOOD design
6
• Singularity
• Artisanal quality
• Statement pieces
• One offs
• Customised to personal taste
• Rare
• Traditional sans ‘ethnicity ‘ quotient
International jewellery brands considered unjustifiably expensive
7
Swadeshi Rules
Why Swadeshi?
8
• Swadeshi rules, because Indian customers find international luxury jewellery prices opaque / unjustifiable.
• Swadeshi is an enduring market.
• Indian genius for original / replicated / adapted design has diehard votaries.
Wearables - NOT locker jewellery
9
• Customers are wary of wearing very expensive jewellery for security reasons. For everyday wear, they want wearable jewellery that is stylish but not too OTT.
• In short, “Jewellery For All Seasons”
Bazaar meets Boutique!
10
• The affluent customer is much more willing to mix high and low these days
Beauty is not certifiable!
11
• People are willing to pay for design more than ever before.
Value appreciation
12
• While the buying decisions hinge on design, product appreciation is increasingly factored into the final purchase.
• Willing to scale down quality expectations if beauty and budget specifications are met
A great in store experience is
considered essentialShoppers don’t buy just because they love the
merchandise, they buy also because the exper ience touches them personal ly and
emot ional ly !
Occasions that warrant a purchase
WORK
• Weddings, Engagements
• Social Engagements
• Mundan
• Birthday gifts
• Anniversaries
FAMILY FUNCTIONS SOCIAL OCCASIONS
• Everyday work
• Office Presentations
• Conferences
• Client Meetings
• Travelling
• Gifts
• Hanging out with friends - movies, IPL, coffee, college,
• Date
• Clubbing
• Dinners
• Other special occasions - awards, shows, special events
Futurescape, Delhi
Level 4, Rectangle 1, Commercial Complex D4Saket, Behind Sheraton, DelhiNew Delhi – 110017, INDIA
Futurescape, Mumbai
Level 2, Raheja Centre Point 294 CST RoadNear Mumbai UniversityOff Bandra–Kurla Complex, Santacruz (E)Mumbai – 400098, INDIA
Telephone: +91 9910201783
+91 (11) 6654 4196
Email: [email protected]
Web: www.futurescape.in
Twitter: @futurescape