In 2020, the global jewellery market size was valued at USD 228 billion. It is expected to grow at a CAGR of 5.1% during 2021-2026 and reach 307 billion by 2026.

India represents one of the largest markets for the gems and jewellery sector and contributes 29% of global jewellery consumption. This sector contributes 7% to the Indian economy and provides jobs to more than 40 lakh people.

Despite the pandemic, prominent players in the Indian jewellery market continue to drive growth. In November 2020, Platinum Guild International (PGI) launched their new 'Men of Platinum’ collection for men in leading retail stores across India. In April 2021, Malabar Gold & Diamonds announced an investment of Rs. 1,600 crore (US$ 214 million) in FY22 to launch 56 stores, of which 40 would be in India and 16 across global markets. Meanwhile, Reliance’s in-house jewellery brand, Reliance Jewels, has 93 flagship showrooms and 110 shops in 105 cities in India.

How are they growing so quickly? What makes these stores so popular? Today, jewellery players in India are re-evaluating the brick-and-mortar business model and are implementing omnichannel marketing strategies to boost sales.

The Jewellery Industry Embraces Digital Experience

Purchasing jewellery has been an inherent part of the Indian tradition and culture for generations. Buying jewellery is a highly personal and symbolic purchase, and an intensely personal way to express style, even for men.

Personalisation is vital in increasing customer satisfaction and building brand loyalty as most customers prefer to purchase jewellery in-store. During the pandemic, jewellers across the country have opted for a ‘phygital’ approach to reach more customers and keep their revenues high, while ensuring a safe and seamless shopping experience. Many jewellers also leveraged digital signage for jewellery stores to redesign physical stores and redefine the customer experience.

For example, India’s most trusted jewellery brand, Tanishq announced the launch of new phygital features, a tech stack that would bridge the gap between bricks and clicks – incorporating features such as video calling, endless aisle, virtual jewellery try on, and real-time, live assisted chat in more than 200 stores across the country.

Arun Narayan, AVP category, marketing & retail, Tanishq, Titan Company Limited, said, “We are leveraging digital to solve and enhance many aspects of the Tanishq buying experience. Now our customers can browse and even get expert assistance to make an informed purchase decision.”

Jewellery store digital signage elevates the customer experience and drives revenue

Digital signage for jewellery stores offers many benefits and plays a crucial role in helping modern jewellers optimise the in-store environment to influence purchase behaviour.

● Attract Customers - Jewellery store digital signage can help create a sense of luxury and contribute to beautiful, modern store design. Window LED displays and digital standees that feature stunning motion graphics and enchanting jewellery collections instantly captivate attention and entice customers to enter your store.

● Create a Phygital Experience - Digital signage crafts a ‘phygital’ environment by combining the physical and digital elements in shopping to create an interactive and immersive shopping experience.

Smart Tablet for Jewellery Store

Customers can enjoy the benefits of a personal interaction with sales staff, while also being able to engage in self-guided product discovery through digital touchscreens, smart tablets and cleverly placed interactive kiosks.

Interactive technologies like Lift & Learn/Place & Learn allow shoppers to compare different jewellery pieces by simply lifting the item or placing it on a stage, which triggers a digital screen to reveal detailed information such as gemstone quality and pricing information.

Digital signage can also collect and analyse valuable customer shopping behaviour and display targeted messages according to audience personas.

Interactive digital displays for Jewellery Store

● Spotlight Bestsellers and Stimulate Purchases - Interactive digital displays that feature bestsellers and limited period offers help to increase visibility of ongoing promotions and accelerate sales. Video walls featuring high-definition images and videos of jewellery collections create a stellar shopping experience and drive purchase desire.

● Feature Social Feeds – Digital signage for jewellery stores can feature real-time social media feeds to stay relevant with millennial customers. The feed can be assigned to display specific hashtags, for instance “engagement ring”. Every social post by customers will be seamlessly updated on the social feed.

● Increase engagement - Interactive touchscreen kiosks strategically placed at the store entrance can immediately greet and inform customers about general customer service information and showcase educational videos to passers-by. Other in-store kiosks can feature videos of jewellery collections, walk customers through the personalisation process and offer best practices for jewellery care.

Discover the power of Scala digital signage

Scala digital signage and marketing technology solutions empower jewellery stores to transform their marketing and deliver exceptional customer experiences. Kickstart your jewellery store digital transformation today to increase revenue.

Discover Scala digital signage for jewellery stores today.

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Esther Chew is the Sr. Manager - Corp Comm & Marketing at STRATACACHE Asia-Pacific and is responsible for developing and implementing the internal and external communications strategy and programmes across Asia-Pacific. She drives the company’s corporate image and brand messaging through integrated and strategic communications leveraging various platforms such as executive communication, client communication, digital marketing, media relations and B2B events.

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