Indian Jeweller (IJ) Magazine August -September 2019

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Special Feature Trust & Transparency The ImporTance of educaTIng The consumer Western countries have made attempts to educate and enlighten their consumers by providing the source of diamonds and other gemstones used in jewellery. However, Indian jewellers have yet to adopt this practice. Sanjana Parikh speaks to jewellers pan India to understand how aware their consumers are and how this trend will shape up in the future 94 | august-september 2019 | INDIAN JEWELLER
Does your consumer know where the center stone of her ring comes from? Can your client pinpoint which region of the world has produced her strand of ruby beads? Since trust and transparency form the foundation of any lucrative business, how can our industry, which has placed trust at the centre of its business model, survive in the long run without transparency? Gold, diamonds, gemstones and other precious materials are used in making a piece of jewellery. To strengthen trust in the mind of the consumer, important details like where the stones have been mined from, are they responsibly mined and what processes have been followed while cutting and polishing etc should be given. The responsibility of procuring and divulging these details lie with the jeweller if he wants to survive in the long term. Saumya Sanjjay of AVR Swarnamahal, a Salem based chain of jewellery stores says, “It definitely has an impact when you know the entire history of the diamond that you own. Gemstones such as emeralds, rubies, sapphires and other stones also have their own stories. When manufacturers provide us these details, it is another piece of valuable information that helps us give confidence to our consumers. It is well within the rights of the consumers in wanting to know more information about the stone they are buying.” The million-dollar question With increasing awareness and exposure to information on these precious stones, consumers should be asking the right questions to their jewellers. Elaborating on this trend Saumya adds, “Nowadays, consumers are extremely aware as they visit several retailers before deciding on one particular purchase, and sometimes they end up giving us information. So, when you have more information, it definitely adds a lot of value and impact and helps build a stronger relationship with our clients. Diamonds and gemstones need to have their own stories; they need to have certification and origin reports. All jewellers should make the effort to give consumers the right information and make themselves as transparent and genuine as possible.” However, in the city of Nizams, this trend is almost non-existent. Consumers prefer trusted jewellers who they have been patronizing for decades and are unaware of terms like gemstone origin or tracing. Abhishek Chanda of Hyderabad based Kalasha Fine Jewels says, “In our jewellery segment, diamond jewellery forms 40-45per cent and gold and jadau jewellery forms the rest. When our consumers purchase diamond jewellery from us, they are not too concerned with origin rather they are price sensitive and concerned with hallmarking of gold and It definitely has an impact when you know the entire history of the diamond that you own. Gemstones such as emeralds, rubies, sapphires and other stones also have their own stories. When manufacturers provide us these details, it is another piece of valuable information that helps us give confidence to our consumers. It is well within the rights of the consumers in wanting to know more information about the stone they are buying. Saumya Sanjjay, AVR Swarnamahal When our consumers purchase diamond jewellery from us, they are not too concerned with origin rather they are price sensitive and concerned with hallmarking of gold and buy back policy. However, they are interested in certification from reputed institutes . Abhishek Chanda, Kalasha Fine Jewels INDIAN JEWELLER | august-september 2019 | 95
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Indian Jeweller (IJ) Magazine August -September 2019

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