Arun Narayan, CEO – Jewelry at Titan, mentioned sharp swings in gold costs have modified shopping for behaviour reasonably than dampened demand. Marriage ceremony consumers, particularly, are advancing purchases amid fears of additional worth will increase, whereas retailer footfalls rise each time costs soften.
“Every time there’s a dip, you might have extra folks in shops wanting to purchase, and each time it goes up a bit, you might have folks staying on the sidelines within the hope that it’s going to come down,” Narayan mentioned, including that buyer nervousness ought to ease as soon as costs stabilise.
Excessive gold costs have accelerated the pattern of exchanging previous jewelry for brand new. Round half of all purchases at Tanishq shops now contain some type of gold alternate. The corporate believes this has helped carry again clients who have been earlier hesitant resulting from rising costs, whereas additionally supporting jewelry demand even at elevated gold ranges.
Titan can also be making jewelry extra accessible by means of month-to-month gold shopping for plans, light-weight designs, lower-carat gold, and a wider vary of diamond jewelry. These initiatives are anticipated to assist maintain volumes even when gold costs stay agency.
Alongside gold, Titan is stepping up its deal with pure diamonds as a part of its long-term progress technique. The corporate plans to arrange diamond experience centres throughout Tanishq shops, with gear to authenticate pure diamonds and clarify high quality parameters to clients.
“Very quickly we might attain about 50 shops the place we have now gear to authenticate pure diamonds,” Narayan mentioned.
The corporate has additionally launched the “Soulmate Diamond Pair”, a pair of engagement rings created from the identical tough diamond. That is a part of Titan’s effort to construct belief, transparency, and emotional attraction within the pure diamond class, particularly throughout the Valentine and marriage ceremony seasons.
On the retail entrance, Titan plans regular home enlargement, with 30–40 new shops opening yearly. On the identical time, the corporate is focusing closely on upgrading present shops. Round 50–70 shops are anticipated to be upgraded yearly, bettering retailer measurement and buyer expertise, which administration sees as an even bigger progress driver than simply including new areas.
Internationally, Titan at the moment operates about 30 shops, primarily in North America and the Center East. Enlargement in these areas will proceed in a calibrated method, concentrating on markets with a robust Indian diaspora.
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