JB Insights
Bengal International Jewellery Show 2024
Opens on a grand note; celebrates industry icons and women empowerment
The 5th edition of the Bengal International Jewellery Show (BIJS) commenced at the Milan Mela Exhibition Centre, Kolkata, with resounding success. Organized by KNC Services, this event, running from November 30 to December 2, 2024, set a stellar precedent on its opening day, celebrating excellence in the jewellery industry and beyond.
The formal inauguration was done by Chief Guest Salem Abdullah Al Ammari of Dewan Al Dahab Jewellery LLC in the presence of Guests of Honour, Mohammad Ishrat, Mustafa’s Pte. Ltd, T.A. Sharavana, Member of Karnataka Legislative Council and Special Guests Saiyam Mehra, Chairman GJC, Dr Chetan Kumar Mehta, President -Jewellery Division -IBJA,President -JAB, Sachin Jain, Regional CEO India -WGC, Samar Kumar De, Working President -SSBC, Deepak Soni, Burrabazar Bullion Gems and Jewellers Welfare Association, Subir Sen, President -SSBC,Alok Adhya, Howrah Jewellery Traders Welfare Association, Tagar Chandra Poddar, Gen Sec, Akhil Bharatiya Swarnakar Sangh, Kranti Nagvekar, Founder KNC Services and dignitaries from GJ industry.
With participation from global industry leaders spanning Singapore, Malaysia, Bangladesh, Saudi Arabia, Dubai, and Indian states including West Bengal, Maharashtra, Karnataka, and regions from the North and South, BIJS 2024 has reaffirmed its position as a global platform for the jewellery trade.
Honoring the pillars of the industry with the Durga Awards
As a highlight of the inaugural day, KNC Services presented the prestigious Durga Awards to four exceptional women, affectionately called the “Durgas” of the jewellery industry. These awards honor their dedication, hard work, and significant contributions to advancing the industry. The recognition underscores KNC’s commitment to celebrating talent, perseverance, and leadership within the jewellery sector.
A Day of Success and Celebration
The event continued with a series of memorable moments, including:
Coffee with Dr. Chetan Mehta, CMD, Laxmi Diamonds, Bengaluru, in an inspiring dialogue with Mr. Suvankar Sen, MD, Senco Gold, Kolkata.
A spectacular Grand Fashion Show Networking Night, showcasing Kolkata’s unmatched craftsmanship and elevating the spirit of artistry in the jewellery world.
Networking and Business Opportunities
The first day of BIJS 2024 has already proven to be a remarkable success in terms of business and networking. The event facilitates collaboration among manufacturers, designers, retailers, and stakeholders, making it a vital hub for innovation and growth in the jewellery industry.BIJS is not only a networking powerhouse but also an affirmation of the industry’s collective strength, innovation, and creativity.
BIJS 2024: A Platform for Excellence
BIJS continues to be East India’s premier B2B jewellery exhibition, providing a unique platform for manufacturers, designers, retailer Coffs, and stakeholders to connect, collaborate, and create opportunities.
BIJS 2024 was a celebration of the vibrant spirit of the jewellery industry; it was where tradition meets innovation, and excellence is the standard.
Coffee with Dr Chetan Kumar Mehta in conversation with Suvankar Sen
Dr Chetan Kumar Mehta’s fireside chat with Suvankar Sen, MD & CEO – Senco Gold and Diamonds unearthed the wisdom and passion that drives one of India’s respected corporate retail jewellers, which boasts of 165 outlets across the country.He spoke on how he had responsibility to carry forward a four generation legacy.
Suvankar Sen was fortunate to have as mentor his father and an icon of the jewellery industry Shankar Sen.The learnings from his father include:
Focus and determination to see an initiative to its successful completion despite the odds and obstacles.
Quick decision making and then sticking by one’s decision
Carry along your people, your team – this will ensure your success.
Face good times, and bad times with equanimity.Remember that bad times is not the end of the world.
Maintain a work – personal life balance.
Suvankar Sen displayed his own strength and that of Senco as they journeyed towards their IPO- a dream of Shankar Sen.The objective was to be a better, organised,clean and transparent organisation.
The journey was a tough – it had its challenges.Identifying PE investors, getting the best auditors on board, battling negativity and suspicion about the jewellery sector, convincing the legitimacy of jewellery industry and strengths and integrity of Senco and bearing the loss of his father.
JB Insights
From Customer Intelligence To Autonomous Growth Intelligence: Deepansh Bhargava Senior Vice President & Head Marketing at VBJ
From Customer Intelligence To AI-powered Growth Decisions, The Next-Gen CDP Is Built To Create Measurable Incremental Value.
For the last 6 years, Customer Data Platforms have transformed how brands understand their customers. They have brought fragmented data together, created unified customer profiles, enabled segmentation and made personalisation more intelligent. But the next evolution of CDPs will not be defined by how much customer data they can organise. It will be defined by how intelligently AI can convert that data into consumer value and incremental business outcomes.
The shift is from Customer Intelligence to Growth Intelligence.
Businesses today know more about their existing customers than ever before their purchase history, frequency, preferences, lifetime value and likelihood of buying again. Yet the larger opportunity lies in moving beyond what customers did to understanding what they need next, where their behaviour is changing and where the next phase of growth will come from. This also requires a sharper focus on incrementality.
Revenue, ROAS, conversions and engagement tell us what happened. But they do not always tell us how much of that outcome was created because of an intervention and how much would have happened anyway.
That difference is the Delta. AI can help take CDPs beyond systems of customer intelligence and turn them into systems of consumer and commercial decision intelligence. Instead of simply identifying customers with a high propensity to purchase, an intelligent growth system could identify intent, unmet needs and moments that matter then evaluate opportunities across acquisition, retention, frequency, basket size, category penetration, pricing, media, events and geography to identify where the highest incremental growth opportunity lies.
Growth intelligence should also help businesses identify where growth is likely to disappear. Early signals from customer behaviour, categories, geographies or spending patterns could reveal risks long before they become visible in the P&L. AI could identify the source of the risk, estimate its potential commercial impact and recommend interventions to change the trajectory. This is where the future becomes particularly interesting.
AI should not just predict customers. It should increasingly help predict the business.
The next generation of AI agents could continuously monitor customer behaviour, sales, categories, inventory, geographies, media and store performance. They could identify anomalies, form hypotheses, estimate commercial impact, recommend interventions, test them and measure the incremental outcome.
The role of the marketer would evolve from simply managing campaigns to managing the intelligence, strategy and guardrails around a more autonomous growth system.
This evolution can be built around three principles: Anticipate, Act and Account.
1. Anticipate where consumer needs and growth will emerge and where they may disappear.
2. Act by identifying and eventually executing the most relevant intervention for the consumer and the business.
3. Account for whether that intervention genuinely created incremental value.
The CDP of the future, therefore, should move beyond being a platform that simply manages customer data. It should become a Growth Decision Platform one that helps businesses understand consumers better, identify opportunities, detect risks, recommend actions, measure incrementality and continuously learn from every intervention. The ultimate measure of such a platform should not be the volume of data it manages.
It should be much simpler:
Show me the Delta you create.
Because ultimately, consumer centricity is not the opposite of growth. It is where sustainable growth begins.
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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.