JB Insights
GGJS 2024 ends on a high note
Show featured 350+exhibitors across 800 stalls; 15000+ visitors attended the show
The 14th edition of GUJARAT GOLD JEWELLERY SHOW (GGJS 2024) ended sus ccessfully, once again confirming its position as a premium GJ trade show. GGJS 2024 featured 350+exhibitors across 800 stalls; 15000+ visitors attended the show.GGJS 2024 was inaugurated by Guest of Honour Dr Chetan Kumar Mehta, President – Jewellery Division – IBJA, President – JAB at the Helipad Exhibition Centre, Gandhinagar along with Hitesh Soni, President – GOWJA, Akshay Mehta, Vice President – GOWJA, Paresh Zarmarwala, Director – GGJS, Jignesh Patadia, Director – GGJS, Surendra Mehta, National Secretary -IBJA and dignitaries from the GJ industry.
Guest of Honour Dr Chetan Kumar Mehta, President – Jewellery Division – IBJA, President – JAB speaking at the GGJS 2024 Inauguration said, “GGJS is one of the premium jewellery shows.It is much awaited by the trade and industry. GGJS is a silent and vibrant show, that has created a great impact for the last 14 years. I applaud GGJS and GOWJA for the dedication in making this show a success.”
Paresh Jhurmarvala, Director – GGJS,speaking at the GGJS 2024 Inauguration said “ The positive impact of GGJS can be gauged by how exhibitors who started with single stall are now exhibiting across multiple stalls Also, they have seen their business grow manifold.Initially GGJS saw small retailers visiting the show.Today all major corporate retail chains are at GGJS.The show has grown from a Gujarat market show to a truly national jewellery show.”
GGJS 2024 featured a wide array of segments including antique jewellery, plain gold jewellery, diamond jewellery,CZ casting jewellery, silver jewellery.The show also featured a machinery and allied section.GGJS saw brisk business across segments especially Kundan, bridal gold and lightweight.GGJS 2024 saw a healthy trade visitor turnout. Besides visitors from all over Gujarat and neighbouring states of Maharashtra, MP and Rajasthan, retailers from South India and Delhi were in attendance.Some exhibitors were of the opinion that there should have been more footfalls from Mumbai, Delhi and Rajasthan markets.
The added value at GGJS was provided by power packed panel discussions featuring the new generation of jewellers. New Generation joining the Jewellery Business and State of the Gold Jewellery Industry provided deep insights and learnings . The other highlight was Coffee with Dr Chetan Kumar Mehta in conversation with an icon, Ba Ramesh – Joint Managing Director of Thangamayil Jewellery.
GGJS is a pivotal event for the jewellery industry, especially in Gujarat, known for its rich heritage and craftsmanship. Its importance is multifaceted, benefiting artisans, businesses, and the industry at large. While GGJS features manufacturers from various regions, it underscores Gujarat’s unique contribution to the world of jewellery.
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Coffee with Dr Chetan Kumar Mehta in conversation with Ba. Ramesh
Dr Chetan Kumar Mehta, CMD Laxmi Diamonds Bengaluru delved deep into the heart and mind of Ba Ramesh, Jt MD- Thangamayil Jewellery.And what we got was pure gold- the wisdom of Ba Ramesh who has seen the rollercoaster ride of life was a great learning, and an inspiration to all
Some of the gems that Ba Ramesh shared:
· A laser focus on work and business. Every breath and every heartbeat is directed towards work.
· Business is enjoyment – it is not work, it is not a task.It is a way of life.
· Develop the inner strength to handle bad times and let not fate defeat you.From 1980 to 1990, I moved from a lakhpati to crorepati to having net value of zero.And then established Thangamayil Jewellery, which will see a turnover of nearly Rs 4800 cr this year.
· Study the jewellery industry and understand its
· finer points, invest in technology, R&D, human resources, build your teams.These investments are critical for one’s growth.
· Look beyond just profit. Understand the concept of valuation.Work towards taking one’s company public and become a wealth creator.
· Do business ethically, respecting the laws of the country.Beyond business, be of service to humanity.
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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