Platinum Season of Hope Aims To Boost Demand For Platinum Jewellery This Season
Following the success of its first edition in 2020, Platinum Guild International brings back its month-long retail initiative, Platinum Season of Hope, from 8th October 2021 – 7th November 2021. As consumers transition into the new normal, once again, there is renewed vigor for marking those special moments in life. The festive and wedding season are expected to further drive consumer sentiment and serve as a ray of much-needed hope and positivity.
The Platinum Season of Hope initiative is set to energize the market and accelerate the growth trajectory for platinum jewellery in the country. As a consumer and trade marketing program, it will see participation from 1250+ stores across the country.
This year, again, the gems and jewellery industry has been impacted due to the second wave of Covid-19. But the country has seen significant recovery since the markets began to open up in June. Furthermore, some very encouraging factors have emerged from our research. The research indicates that the young consumers’ appetite to spend on precious jewellery continues to remain strong with 66% expecting to spend the same or more. Also, for platinum consumers, precious jewellery remains important. Many would continue to purchase it as retains its value, is personally meaningful and marks significant emotions and relationships that they cherish.
PGI launched the Platinum Season of Hope in October 2020 to boost demand for platinum jewellery in the country. It created a fillip in the trade community who saw an uptake in consumer demand from Oct 2020 onwards. With 1289 stores participating, the initiative achieved an average growth of 29% over the same period in 2019 for all participating retailers. The number is higher for strategic partners at 33%. PGI also awarded retail partners for their hugely successful performance of the first edition of Platinum Season of Hope in March 2021.
Vaishali Banerjee, Managing Director, PGI-India
Sharing her views on the Platinum Season of Hope initiative, Vaishali Banerjee, Managing Director, PGI-India, said, “We are seeing markets move towards recovery and Q3 has played an important role in giving that much-needed boost. Our partners have shared some positive growth updates and it is also reassuring to see the consumers back at the stores. This has led to an uptick in demand. Hence, there is no better time to flag off this initiative. Season of Hope will be instrumental in providing impetus as we enter the festive season. So, I wish all of us the very best of luck as we move forward this season.”
Platinum Season of Hope will straddle all three platinum jewellery categories, Platinum Days of Love - the love bands offering, Men of Platinum – men’s jewellery and Evara - targeting the young modern woman of today. The Season of Hope is backed by a robust digital communication plan led by a new film, supported across other digital platforms, and PR across markets to ensure high reach and impact.