07 Oct 2021 18:47 IST

Customers are celebrating ‘today’ more, says Tanishq CEO

The jewellery brand has introduced more affordable designs, tells Ajoy Chawla at the ICFAI webinar.

The jewellery sector has many employment opportunities giving scope for skill development, especially because more and more institutes are offering courses, said Ajoy Chawla, CEO- jewellery division, Tanishq, Titan Company Ltd, while speaking at the 24th WiseViews Interactive Webinar Series conducted by ICFAI. He was speaking on “Transforming India’s Jewellery Value Chain: The Tanishq Way.”

Chawla said, at Tanishq, the customer is the prime. “We keep changing designs and come up with latest and unique collections, and themes based on the insights provided by the customers. For that, we regularly meet the customers in person and seek their feedback on the latest trends. About 2.5 million customers visit the Tanishq website each month and our executives ensure that they establish a direct connect with them to know their perceptions.”

 

Tanishq CEO Ajoy Chawla speaking at ICFAI webinar.

 

 

 

Feedback loop

“We also encourage the customers to visit our factories to understand the quality standards. The customers are also invited to be part of new campaigns introduced from time to time.”

Chawla further added that they pursue the consumer and not the competition. He also said that Tanishq is the first firm to introduce a Karat Meter to the Indian market and they always strive to bring in transparency in all transactions. By taking up customer-centric measures, one can win the confidence of the consumers in a highly opaque and unorganised sector like jewellery.

There are over 3 lakh retailers in the Indian jewellery market and about 4 million people employed in this sector. The ‘karigars’ (goldsmiths) work in inhumane conditions and polluted surroundings. But at Tanishq, he said, exclusive karigar parks and centres have been established to provide spacious and healthy work environment to the workers. He also said that the workers are trained in special category skills on a regular basis with recommendations from industry experts.

Why gold?

“For Indians, gold is beyond a means of adornment. They connect deeply with jewellery. It is not just an asset, but it is an emotion. The customers’ perception has changed post-Covid. They want to celebrate today instead of wait for tomorrow. Accordingly, we have introduced more wearable and affordable designs that suit their current needs,” he explained.

Chawla played some Tanishq TV commercials during his presentation which showcased different needs of the customers. “While the younger generation is more interested in buying 14 karat jewelry in the studded segment, the older group is looking towards the diamond and platinum range owing to the steep increase in the gold prices,” heexplained.

The webinar was moderated by Prof R Prasad, Director, Academic Wing, ICFAI Group, and Prof Sudhakar Rao, Director, Branding, ICFAI Group. About 250 participants including entrepreneurs, research scholars, working professionals from various parts of the country registered for then event, which also streamed live on Facebook.