Talk jewellery and subtle is the word for the Generation Y, which is a lot more calculative than people of the previous era. However, the jewellery industry has no choice but to put their best foot forward and woo the young lot to ensure their long-term presence in the market. Many might argue that Indian jewellers have little advantage given the religious and social importance attached to jewellery, however, but experts’ opine that even in Indian market having a long term relation with the customer is better than once in lifetime deal. %% There have been discussions at macro level about having innovative designs, creative strategies and much more to attract the young customer, who consider jewellery a part of family history but not daily wear. But, it’s time to take a closer look at the segment and have a micro plan for future customers, which is the need of the hour. %% First step towards reaching out to tomorrow’s consumer is to define the segment, says David Lamb, Managing Director (Jewellery), World Gold Council (WGC). “The thumb rule is to understand the customer and their needs. We are talking about people in the age group of 18 to 30 years. They are a concern because this generation of Indian has changed a lot, it’s no longer following the foot-steps of their elders. Now mothers are looking towards their daughters for advice and suggestion, unlike the past when daughters followed what mothers said.”%% Platinum Guild International (PGI) surveyed seven cities with over 250 people to study what drives the consumer to platinum. “The younger audience is more educated, net savvy and aware of international trends, seeking options in jewellery metals and designs and willing to try out newer looks and experiment with designs,” says Vaishali Banerjee, country manager, India, PGI. %% He pointed out that there is enormous scope of innovation and that the industry should not only use technology to improve products but also to talk about it. “We must understand that this is not only a marketing issue, but also a retail issue and a product issue. When we can glamourise apparels, why can’t we do that to gold, which is more important and expensive? We must understand that the real challenge is to make jewellery as much a part of daily life and ambition as gadgets.” %%

When contacted, Sanjay Kothari, vice-chairman, Gem and Jewellery Export Promotion Council, says, “The council understands that there is a void and generic promotion of jewellery is the need of the hour. We have been thinking about it since the past 15 years, but very little was done towards generic promotion. However, we have now decided to allocate some budget for that so that. However, it is all at a very nascent stage and nothing concrete in terms of figures of plan can be given out. The council is definitely planning to do something towards generic promotion of jewellery.” %% Nip the problem in the bud, Lamb insists before it gets out of control. Talking about the relation of jewellery with Indian cultural values, he says, “Everyday wearability is huge market ability. Look at bigger business with smaller and newer things rather than just once selling wedding jewellery. In India, there are macro circumstances. Even if the cultural and social factors make jewellery a mandate, but a gradual cooling cannot be ruled out. Already people have shifted towards lighter and minimal jewellery, which is though a market opportunity, but it also underlines the shift in taste. It is high time jewellers must start talking about their product and before that make products that lures people. Gold should be made everyday pleasure and not a mandatory thing, which might mean that given an opportunity they might not wear jewellery.”%% A positive Sachin Jain, managing director, Forevermark India, says that there have already been efforts towards wooing to the customers of tomorrow, however, given the challenge the magnitude of effort has to be larger. “Branding is an important tool and will help us connect with the customers. It’s high time we move beyond talking price and giving break ups, rather we should think of connecting to the customer at emotional level.”%% Now-a-days, the youth looks at gold more as an investment option that as ornament, this can be looked upon as an opportunity to promote gold jewellery as well. “In Chinese market, both investment product and jewelry are distributed from same points. There is a harmonious relation between jewellery and other gold product, they don’t compete but complement each other. We need to do that in India. A little efforts from jewellers to promote jewellery as a physical thing that can be enjoyed and appreciated will take the market to new heights. With youth enjoying old, it won’t live in lockers rather it will have a life. Gold coins will someday be translated into jewellery, so why not give them a scheme that gives them freedom to invest in gold and also enjoy the ornamental value of it. The World Gold Council has My Gold Plan scheme under which a person may deposit certain amount of money every month and at the end of the year, they may buy a gold jewellery or coin with that money,” explains Lamb. %%

When contacted, Sanjay Kothari, vice-chairman, Gem and Jewellery Export Promotion Council, says, “The council understands that there is a void and generic promotion of jewellery is the need of the hour. We have been thinking about it since the past 15 years, but very little was done towards generic promotion. However, we have now decided to allocate some budget for that so that. However, it is all at a very nascent stage and nothing concrete in terms of figures of plan can be given out. The council is definitely planning to do something towards generic promotion of jewellery.” %% Nip the problem in the bud, Lamb insists before it gets out of control. Talking about the relation of jewellery with Indian cultural values, he says, “Everyday wearability is huge market ability. Look at bigger business with smaller and newer things rather than just once selling wedding jewellery. In India, there are macro circumstances. Even if the cultural and social factors make jewellery a mandate, but a gradual cooling cannot be ruled out. Already people have shifted towards lighter and minimal jewellery, which is though a market opportunity, but it also underlines the shift in taste. It is high time jewellers must start talking about their product and before that make products that lures people. Gold should be made everyday pleasure and not a mandatory thing, which might mean that given an opportunity they might not wear jewellery.”%% A positive Sachin Jain, managing director, Forevermark India, says that there have already been efforts towards wooing to the customers of tomorrow, however, given the challenge the magnitude of effort has to be larger. “Branding is an important tool and will help us connect with the customers. It’s high time we move beyond talking price and giving break ups, rather we should think of connecting to the customer at emotional level.”%% Now-a-days, the youth looks at gold more as an investment option that as ornament, this can be looked upon as an opportunity to promote gold jewellery as well. “In Chinese market, both investment product and jewelry are distributed from same points. There is a harmonious relation between jewellery and other gold product, they don’t compete but complement each other. We need to do that in India. A little efforts from jewellers to promote jewellery as a physical thing that can be enjoyed and appreciated will take the market to new heights. With youth enjoying old, it won’t live in lockers rather it will have a life. Gold coins will someday be translated into jewellery, so why not give them a scheme that gives them freedom to invest in gold and also enjoy the ornamental value of it. The World Gold Council has My Gold Plan scheme under which a person may deposit certain amount of money every month and at the end of the year, they may buy a gold jewellery or coin with that money,” explains Lamb.%%

“In a recent survey, around 13,000 Indian women were asked and 64 per cent of them said that they would like to buy jewellery in next 12 months. This proves that India is culturally a jewellery market. All it needs a little more effort from industry as a whole and also at individual level from jewellers and we can definitely make jewellery a desire, which is hard to resist.” %% “Jewellery is fundamentally a very strong need of the Indian consumer. There are times in her life when it is almost a compulsory purchase, such as Bridal and certain emotional milestones in her life which can commence with jewellery. Given this strong consumer need, the jewellery industry has a strong future. However as an industry we must constantly innovate and reinvent ourselves to stay relevant with the changing consumer,” adds Banerjee. %% She also insists that a strong marketing strategy will also help boost the market. The PGI launched ORO bangles collection during IIJS, this year. She says, “For the larger market we have a strong regional marketing programme for the trade which will help in widening and strengthening distribution pan India and stimulate consumer demand.” %% Experts not only predict but believe that tomorrow’s consumer is not a concern, but an opportunity that the jewellery industry is blessed with. Changing with times to suit the needs and choices of future customer is not only good for business but it is also healthy for growth of the brand. Cashing in on factors like exclusive acquisition, celebrating life and moments, right blend of modern and traditional values and more—can help the industry go a long way. %%

Talk jewellery and subtle is the word for the Generation Y, which is a lot more calculative than people of the previous era. However, the jewellery industry has no choice but to put their best foot forward and woo the young lot to ensure their long-term presence in the market. Many might argue that Indian jewellers have little advantage given the religious and social importance attached to jewellery, however, but experts’ opine that even in Indian market having a long term relation with the customer is better than once in lifetime deal. %% There have been discussions at macro level about having innovative designs, creative strategies and much more to attract the young customer, who consider jewellery a part of family history but not daily wear. But, it’s time to take a closer look at the segment and have a micro plan for future customers, which is the need of the hour. %% First step towards reaching out to tomorrow’s consumer is to define the segment, says David Lamb, Managing Director (Jewellery), World Gold Council (WGC). “The thumb rule is to understand the customer and their needs. We are talking about people in the age group of 18 to 30 years. They are a concern because this generation of Indian has changed a lot, it’s no longer following the foot-steps of their elders. Now mothers are looking towards their daughters for advice and suggestion, unlike the past when daughters followed what mothers said.”%% Platinum Guild International (PGI) surveyed seven cities with over 250 people to study what drives the consumer to platinum. “The younger audience is more educated, net savvy and aware of international trends, seeking options in jewellery metals and designs and willing to try out newer looks and experiment with designs,” says Vaishali Banerjee, country manager, India, PGI. %% He pointed out that there is enormous scope of innovation and that the industry should not only use technology to improve products but also to talk about it. “We must understand that this is not only a marketing issue, but also a retail issue and a product issue. When we can glamourise apparels, why can’t we do that to gold, which is more important and expensive? We must understand that the real challenge is to make jewellery as much a part of daily life and ambition as gadgets.” %%

When contacted, Sanjay Kothari, vice-chairman, Gem and Jewellery Export Promotion Council, says, “The council understands that there is a void and generic promotion of jewellery is the need of the hour. We have been thinking about it since the past 15 years, but very little was done towards generic promotion. However, we have now decided to allocate some budget for that so that. However, it is all at a very nascent stage and nothing concrete in terms of figures of plan can be given out. The council is definitely planning to do something towards generic promotion of jewellery.” %% Nip the problem in the bud, Lamb insists before it gets out of control. Talking about the relation of jewellery with Indian cultural values, he says, “Everyday wearability is huge market ability. Look at bigger business with smaller and newer things rather than just once selling wedding jewellery. In India, there are macro circumstances. Even if the cultural and social factors make jewellery a mandate, but a gradual cooling cannot be ruled out. Already people have shifted towards lighter and minimal jewellery, which is though a market opportunity, but it also underlines the shift in taste. It is high time jewellers must start talking about their product and before that make products that lures people. Gold should be made everyday pleasure and not a mandatory thing, which might mean that given an opportunity they might not wear jewellery.”%% A positive Sachin Jain, managing director, Forevermark India, says that there have already been efforts towards wooing to the customers of tomorrow, however, given the challenge the magnitude of effort has to be larger. “Branding is an important tool and will help us connect with the customers. It’s high time we move beyond talking price and giving break ups, rather we should think of connecting to the customer at emotional level.”%% Now-a-days, the youth looks at gold more as an investment option that as ornament, this can be looked upon as an opportunity to promote gold jewellery as well. “In Chinese market, both investment product and jewelry are distributed from same points. There is a harmonious relation between jewellery and other gold product, they don’t compete but complement each other. We need to do that in India. A little efforts from jewellers to promote jewellery as a physical thing that can be enjoyed and appreciated will take the market to new heights. With youth enjoying old, it won’t live in lockers rather it will have a life. Gold coins will someday be translated into jewellery, so why not give them a scheme that gives them freedom to invest in gold and also enjoy the ornamental value of it. The World Gold Council has My Gold Plan scheme under which a person may deposit certain amount of money every month and at the end of the year, they may buy a gold jewellery or coin with that money,” explains Lamb. %%

When contacted, Sanjay Kothari, vice-chairman, Gem and Jewellery Export Promotion Council, says, “The council understands that there is a void and generic promotion of jewellery is the need of the hour. We have been thinking about it since the past 15 years, but very little was done towards generic promotion. However, we have now decided to allocate some budget for that so that. However, it is all at a very nascent stage and nothing concrete in terms of figures of plan can be given out. The council is definitely planning to do something towards generic promotion of jewellery.” %% Nip the problem in the bud, Lamb insists before it gets out of control. Talking about the relation of jewellery with Indian cultural values, he says, “Everyday wearability is huge market ability. Look at bigger business with smaller and newer things rather than just once selling wedding jewellery. In India, there are macro circumstances. Even if the cultural and social factors make jewellery a mandate, but a gradual cooling cannot be ruled out. Already people have shifted towards lighter and minimal jewellery, which is though a market opportunity, but it also underlines the shift in taste. It is high time jewellers must start talking about their product and before that make products that lures people. Gold should be made everyday pleasure and not a mandatory thing, which might mean that given an opportunity they might not wear jewellery.”%% A positive Sachin Jain, managing director, Forevermark India, says that there have already been efforts towards wooing to the customers of tomorrow, however, given the challenge the magnitude of effort has to be larger. “Branding is an important tool and will help us connect with the customers. It’s high time we move beyond talking price and giving break ups, rather we should think of connecting to the customer at emotional level.”%% Now-a-days, the youth looks at gold more as an investment option that as ornament, this can be looked upon as an opportunity to promote gold jewellery as well. “In Chinese market, both investment product and jewelry are distributed from same points. There is a harmonious relation between jewellery and other gold product, they don’t compete but complement each other. We need to do that in India. A little efforts from jewellers to promote jewellery as a physical thing that can be enjoyed and appreciated will take the market to new heights. With youth enjoying old, it won’t live in lockers rather it will have a life. Gold coins will someday be translated into jewellery, so why not give them a scheme that gives them freedom to invest in gold and also enjoy the ornamental value of it. The World Gold Council has My Gold Plan scheme under which a person may deposit certain amount of money every month and at the end of the year, they may buy a gold jewellery or coin with that money,” explains Lamb.%%

“In a recent survey, around 13,000 Indian women were asked and 64 per cent of them said that they would like to buy jewellery in next 12 months. This proves that India is culturally a jewellery market. All it needs a little more effort from industry as a whole and also at individual level from jewellers and we can definitely make jewellery a desire, which is hard to resist.” %% “Jewellery is fundamentally a very strong need of the Indian consumer. There are times in her life when it is almost a compulsory purchase, such as Bridal and certain emotional milestones in her life which can commence with jewellery. Given this strong consumer need, the jewellery industry has a strong future. However as an industry we must constantly innovate and reinvent ourselves to stay relevant with the changing consumer,” adds Banerjee. %% She also insists that a strong marketing strategy will also help boost the market. The PGI launched ORO bangles collection during IIJS, this year. She says, “For the larger market we have a strong regional marketing programme for the trade which will help in widening and strengthening distribution pan India and stimulate consumer demand.” %% Experts not only predict but believe that tomorrow’s consumer is not a concern, but an opportunity that the jewellery industry is blessed with. Changing with times to suit the needs and choices of future customer is not only good for business but it is also healthy for growth of the brand. Cashing in on factors like exclusive acquisition, celebrating life and moments, right blend of modern and traditional values and more—can help the industry go a long way. %%

Talk jewellery and subtle is the word for the Generation Y, which is a lot more calculative than people of the previous era. However, the jewellery industry has no choice but to put their best foot forward and woo the young lot to ensure their long-term presence in the market. Many might argue that Indian jewellers have little advantage given the religious and social importance attached to jewellery, however, but experts’ opine that even in Indian market having a long term relation with the customer is better than once in lifetime deal. %% There have been discussions at macro level about having innovative designs, creative strategies and much more to attract the young customer, who consider jewellery a part of family history but not daily wear. But, it’s time to take a closer look at the segment and have a micro plan for future customers, which is the need of the hour. %% First step towards reaching out to tomorrow’s consumer is to define the segment, says David Lamb, Managing Director (Jewellery), World Gold Council (WGC). “The thumb rule is to understand the customer and their needs. We are talking about people in the age group of 18 to 30 years. They are a concern because this generation of Indian has changed a lot, it’s no longer following the foot-steps of their elders. Now mothers are looking towards their daughters for advice and suggestion, unlike the past when daughters followed what mothers said.”%% Platinum Guild International (PGI) surveyed seven cities with over 250 people to study what drives the consumer to platinum. “The younger audience is more educated, net savvy and aware of international trends, seeking options in jewellery metals and designs and willing to try out newer looks and experiment with designs,” says Vaishali Banerjee, country manager, India, PGI. %% He pointed out that there is enormous scope of innovation and that the industry should not only use technology to improve products but also to talk about it. “We must understand that this is not only a marketing issue, but also a retail issue and a product issue. When we can glamourise apparels, why can’t we do that to gold, which is more important and expensive? We must understand that the real challenge is to make jewellery as much a part of daily life and ambition as gadgets.” %%

When contacted, Sanjay Kothari, vice-chairman, Gem and Jewellery Export Promotion Council, says, “The council understands that there is a void and generic promotion of jewellery is the need of the hour. We have been thinking about it since the past 15 years, but very little was done towards generic promotion. However, we have now decided to allocate some budget for that so that. However, it is all at a very nascent stage and nothing concrete in terms of figures of plan can be given out. The council is definitely planning to do something towards generic promotion of jewellery.” %% Nip the problem in the bud, Lamb insists before it gets out of control. Talking about the relation of jewellery with Indian cultural values, he says, “Everyday wearability is huge market ability. Look at bigger business with smaller and newer things rather than just once selling wedding jewellery. In India, there are macro circumstances. Even if the cultural and social factors make jewellery a mandate, but a gradual cooling cannot be ruled out. Already people have shifted towards lighter and minimal jewellery, which is though a market opportunity, but it also underlines the shift in taste. It is high time jewellers must start talking about their product and before that make products that lures people. Gold should be made everyday pleasure and not a mandatory thing, which might mean that given an opportunity they might not wear jewellery.”%% A positive Sachin Jain, managing director, Forevermark India, says that there have already been efforts towards wooing to the customers of tomorrow, however, given the challenge the magnitude of effort has to be larger. “Branding is an important tool and will help us connect with the customers. It’s high time we move beyond talking price and giving break ups, rather we should think of connecting to the customer at emotional level.”%% Now-a-days, the youth looks at gold more as an investment option that as ornament, this can be looked upon as an opportunity to promote gold jewellery as well. “In Chinese market, both investment product and jewelry are distributed from same points. There is a harmonious relation between jewellery and other gold product, they don’t compete but complement each other. We need to do that in India. A little efforts from jewellers to promote jewellery as a physical thing that can be enjoyed and appreciated will take the market to new heights. With youth enjoying old, it won’t live in lockers rather it will have a life. Gold coins will someday be translated into jewellery, so why not give them a scheme that gives them freedom to invest in gold and also enjoy the ornamental value of it. The World Gold Council has My Gold Plan scheme under which a person may deposit certain amount of money every month and at the end of the year, they may buy a gold jewellery or coin with that money,” explains Lamb. %%

When contacted, Sanjay Kothari, vice-chairman, Gem and Jewellery Export Promotion Council, says, “The council understands that there is a void and generic promotion of jewellery is the need of the hour. We have been thinking about it since the past 15 years, but very little was done towards generic promotion. However, we have now decided to allocate some budget for that so that. However, it is all at a very nascent stage and nothing concrete in terms of figures of plan can be given out. The council is definitely planning to do something towards generic promotion of jewellery.” %% Nip the problem in the bud, Lamb insists before it gets out of control. Talking about the relation of jewellery with Indian cultural values, he says, “Everyday wearability is huge market ability. Look at bigger business with smaller and newer things rather than just once selling wedding jewellery. In India, there are macro circumstances. Even if the cultural and social factors make jewellery a mandate, but a gradual cooling cannot be ruled out. Already people have shifted towards lighter and minimal jewellery, which is though a market opportunity, but it also underlines the shift in taste. It is high time jewellers must start talking about their product and before that make products that lures people. Gold should be made everyday pleasure and not a mandatory thing, which might mean that given an opportunity they might not wear jewellery.”%% A positive Sachin Jain, managing director, Forevermark India, says that there have already been efforts towards wooing to the customers of tomorrow, however, given the challenge the magnitude of effort has to be larger. “Branding is an important tool and will help us connect with the customers. It’s high time we move beyond talking price and giving break ups, rather we should think of connecting to the customer at emotional level.”%% Now-a-days, the youth looks at gold more as an investment option that as ornament, this can be looked upon as an opportunity to promote gold jewellery as well. “In Chinese market, both investment product and jewelry are distributed from same points. There is a harmonious relation between jewellery and other gold product, they don’t compete but complement each other. We need to do that in India. A little efforts from jewellers to promote jewellery as a physical thing that can be enjoyed and appreciated will take the market to new heights. With youth enjoying old, it won’t live in lockers rather it will have a life. Gold coins will someday be translated into jewellery, so why not give them a scheme that gives them freedom to invest in gold and also enjoy the ornamental value of it. The World Gold Council has My Gold Plan scheme under which a person may deposit certain amount of money every month and at the end of the year, they may buy a gold jewellery or coin with that money,” explains Lamb.%%

“In a recent survey, around 13,000 Indian women were asked and 64 per cent of them said that they would like to buy jewellery in next 12 months. This proves that India is culturally a jewellery market. All it needs a little more effort from industry as a whole and also at individual level from jewellers and we can definitely make jewellery a desire, which is hard to resist.” %% “Jewellery is fundamentally a very strong need of the Indian consumer. There are times in her life when it is almost a compulsory purchase, such as Bridal and certain emotional milestones in her life which can commence with jewellery. Given this strong consumer need, the jewellery industry has a strong future. However as an industry we must constantly innovate and reinvent ourselves to stay relevant with the changing consumer,” adds Banerjee. %% She also insists that a strong marketing strategy will also help boost the market. The PGI launched ORO bangles collection during IIJS, this year. She says, “For the larger market we have a strong regional marketing programme for the trade which will help in widening and strengthening distribution pan India and stimulate consumer demand.” %% Experts not only predict but believe that tomorrow’s consumer is not a concern, but an opportunity that the jewellery industry is blessed with. Changing with times to suit the needs and choices of future customer is not only good for business but it is also healthy for growth of the brand. Cashing in on factors like exclusive acquisition, celebrating life and moments, right blend of modern and traditional values and more—can help the industry go a long way. %%