By Invitation
Golden Rule I – Availability of Fast Movers
L.R.Natarajan, Partner- Strategy and Systems Consulting
LRN has worked at senior level positions in companies like Eicher Motors, Hero Motors, Greaves Cotton, Ashok Leyland, and Hindustan motors. His last employer was Titan Company limited. Eleven years in Titan Company limited (eight years in Tanishq) and retired as CEO for the new business division. LRN was also heading the innovation council at Titan and was an active member of Tata Group Innovation Forum.
LRN had successfully spearheaded the TOC implementation in Tanishq retailing.LRN had started a school for Innovation in Titan and the school had produced over 400 trained innovators.
LRN also undertakes consulting assignments from corporate companies on Strategy, Retail excellence and Innovation. He has recently authored two books, a book on Innovation titled “The 9 Nuggets of Innovation” and a book on retailing titled “Demystifying Retail” – The Four golden rules.
Prabhakar Mahadevan, Founder Director of Strategy and Systems Consulting & Focus and Flow
Technologies Pvt Ltd
Prabhakar is a certified Theory of Constraints consultant (TOC) by Goldratt Schools Israel, certified expert on TOC by TOCICO (www.tocico.org) & is associated with TOC for the last 22+ years. Through his consulting companies,Prabhakar and his colleagues are involved in several comprehensive TOC consulting projects across several industry verticals such as fashion jewellery, fast moving consumer goods, consumer durables, automotive OEM, capital machinery, pharmaceutical, heavy engineering, fashion retail etc.
In our earlier article titled “Four Golden Rules- Jewellery retailing” I had briefly introduced the four Golden Rules. In this article, I will be delving on the first Golden Rule, Fast Movers, and Availability of fast movers.
Background
All the examples in this article are pertaining to plain gold category. The age band wise break up in identifying the fast movers will be different for diamond and other categories.
Every retailer knows the importance of carrying fresh merchandise in the showroom. The general tendency of a retailer is to replenish that day’s sale, or that week’s sale with fresh merchandise. It should be noted that the daily sale or weekly sale of merchandise happens from different age of stock available in the showroom. For example, if 10 variants sell in a day, four could be from less than two month-age, three could be from 3–6 month age, and three could be from over 6 month age.
The process of replenishment for merchandise sold with age less than 2 months (can be identified as fast movers for the plain gold category) and those sold with of more than 2 months should be different. What is sold from with age less than 2 months should be replenished with the same merchandise again (exact same design variant), as it has got every chance to sell again and fast, rather than experimenting with new merchandise without any sale history. Logically, only for what sells with age beyond two months, should one attempt to bring in a different new design variant as replacement.
Fast-movers, and availability of fast movers
I shall try to cover the following points, for one’s better understanding
Guidelines for identifying the fast-movers. What can be termed as a fast-mover and how?
Processes for ensuring 90% plus availability in all retail stores where the fast mover is represented. Retail being a seasonal business, the process for fast-mover replenishment should be dynamic and in sync with market requirement.
Processes for identifying new fast movers, and processes for identifying merchandise which is no longer a fast mover.
Guidelines for identifying the fast movers
Fast movers (or the Head) are a set of merchandise which has historically given more than double the overall store stock turn.
Since most of the Jewellery retailers are operating without a unique SKU code to identify each unique design variant, the following is suggested to identify fast movers:
Identify from historical sales (last one year), the fast movers at category/ sub-category/ weight band level.
In consultation with key staff in the business and vendors identify the designs within these category/ sub-category weight bands which has potential for faster sell through.
This will be the list of fast- movers design variants to begin with.
Introduce a system for assigning unique SKU codes for each of these design variants.
What is Availability of fast movers?
Having identified fast mover design variants and mechanism to assign them with unique SKU codes, retailer needs to ensure the following:
The identified fast mover designs are represented in all applicable stores
Have a process in process in place that ensures high availability of these in the stores.
To understand what availability is, let us look at an example, depicting a typical receipt and replenishment process of a given fast moving variant. 
Availability is defined as Number of Days the variant was Customer Facing in the period / Total number of days in the period.
In this illustration, in a transaction period of 90 days, the fast-moving variant was available only for 14 days (sum of customer facing days is 3+5+1+5=14 days). Hence the availability is 14/90 = 16%.
The projected stock turn for a year is 16 (in 3 months it has sold 4 times and extrapolating for a year, the sale would be 16. Since 1 pc is the average inventory, stock turn for the year is 16).
The point to ponder is, 16% availability gave a stock of 16. If the availability can be increased to 90% +, then the stock turn will improve multi fold.
Processes for ensuring 90% + availability of fast movers
From the above illustration (it is clear that) to maximize availability of fast movers, they need to be replenished as quickly as possible once their sale happens. Depending on their retail footprint (number of showrooms), retailers can adopt either of the below mentioned strategies to maximize availability of fast movers.
Scenario 1: Small and medium retailers with less than 5 Stores:
Having identified the fast mover design variants (as explained earlier), the retailers should ensure the following:
Stock 1 pc in each of the fast mover designs in the showrooms.
Once a fast mover sale happens, order the exact same SKU on the same day (or the next day) of sale.
Enter into agreements with vendors to:
Accept smaller order size and frequent ordering of fast movers designs
Colour coding and fast-tracking delivery of such orders
Remember, Shorter the lead time to replenish, shorter is the duration for which the fast mover is not available! Thus, by adopting the above practice, small and medium retailers can substantially improve availability of fast movers in their stores.
Scenario 2: Retailers with 6+ Showrooms:
Retailers with a footprint of 6+ showrooms can move to a pull-based replenishment model to ensure high availability of fast movers at stores. This model advocates holding a central buffer stock of fast mover designs. One piece of each fast mover is represented in each of the applicable store. Once fast mover sale happens at a store, it is replenished from the central buffer stock the very next day. As and when the central buffer stock level decreases (due to store replenishment), procurement action is initiated immediately to refill the central buffer stock. Since the delivery time from central buffer stock to stores would in most cases be 1or 2 days, availability of fast movers at the stores is improved substantially. 
Having understood that holding a central buffer stock will enable maximising availability, the next question is what should be the level of central buffer stock one needs to carry.
Size of Central Buffer Stock:
The inventory that needs to be held is a function of the following:
Total supply lead time (ordering lead time + manufacturing lead time + logistics lead time)
Expected demand within this lead time (from all the showrooms)
Factor for some variability in demand and supply.
Let us say, the aggregated expected demand from all the showrooms to be serviced from central buffer stock is 10 / week.
If the manufacturing lead time is 2 weeks and logistics lead time is 1 week, then the central buffer stock should be able to service the expected demand for 3 weeks (assuming that supplier orders are placed the same day, Order lead time is 0, manufacturing lead time is 2 weeks and logistics lead time is 1 week, total of 3 weeks). Aggregated demand for 3 weeks would be 30 pcs (10 / week X 3 weeks).
An additional quantity is added to this 30, to factor for variability in demand and supply. Let us, say, we add 10%. So, with the factor for variability, the central buffer stock size would be 33 pcs (30 pcs aggregated demand + 3 pcs for variability).
After the buffer stock is built, when a fast mover sale happens in any of the stores, it is replenished from the central stock the very next day. When replenishment happens from the central stock, its stock level decreases. If the central stock is not replenished within the agreed lead time, there will be a high risk of not being able to fulfil the store demand from the central stock, thereby impacting availability at stores. Hence, it is imperative for retailers to have process in place to order merchandise on the same day a consumption happens and fast-tracking delivery within the agreed lead time to rebuild the central buffer stock.
By following this process, retailers with a chain of stores can maintain 90%+ availability of fast movers. It is to be noted that the increased sale from fast movers will more than compensate the cost of carrying the central stock.
There are processes available to manage the central buffer stock on an ongoing basis based on actual sale and supply performance. This ensures that the central stock carried is optimal, not too much, not too less!
Processes for identifying new fast-movers, and removing non-performing fast-movers
Sale rate of an identified fast-mover might taper down over a period. As we have discussed about the process for identifying fast-movers, we also need to have rules for removing fast-movers.
If the expected stock turn from a fast mover design variant is 8, it should sell at least one piece, from each showroom, in a period of 1.5 months. If the identified fast mover, in certain showrooms, has not sold in two consecutive 1.5 months cycle, then this merchandise can be removed from the fast-mover list for that those showrooms and the central buffer stock to be re-computed.
When we are introducing new merchandise, we should identify those merchandise which gets sold within 1.5 months, replenish the exact same variant after its first sale, monitor if the repeat sale also happens within the next 1.5 months. If such sale cycle happens in a minimum of 30% of showrooms, then such merchandise has the potential to be classified and added to fast mover list.
Summing up
To have the best of inventory effectiveness, one should understand about identifying the fast-moving merchandise. Follow it up with processes for computing the central buffer stock to ensure 90% + availability in stores. Have processes for replenishing the stores from central stock and replenishing central stock from suppliers as per agreed lead times.
These will ensure minimizing lost sale opportunities and maximizing performance of fast movers, thereby improving overall performance of the showroom.
In this continuing series, the next article will be on Golden Rule 2 – Store Planogram and processes for replenishment of Non fast movers
By Invitation
Mangalsutra market glows with steady 11% growth rate
by Tanvi shah
Director & Head – CareEdge Advisory & Research
Tanvi shah -Director & Head – CareEdge Advisory & Research
The gems and jewellery market has clocked a healthy CAGR of 11% from CY20-24, to reach at Rs. 8,110 billion in CY24. A similar growth trajectory is expected to continue in the next 5 years. Furthermore, bangles and chains hold a large share in the overall jewellery market. As consumer preferences evolve, the Indian jewellery sector is undergoing notable transformation. Central to this shift is the Mangalsutra—a piece that embodies both cultural heritage and modern sensibility. Traditionally revered as a symbol of marital unity and prosperity, the Mangalsutra has maintained its cultural significance while aligning with contemporary aesthetics and changing lifestyles.
The Mangalsutra market has grown at over 10% compounded annual growth rate (CAGR) over the past five years and estimated to be Rs 190 billion in CY24(E). With the consistently rising number of weddings in India, the market is set to expand steadily and is expected to surpass Rs 250 billion by CY29.
Weddings: The Prime Driver of Demand
Weddings remain the key driver of Mangalsutra purchases, with the ornament continuing to symbolize matrimony across communities. As weddings evolve—especially with greater financial independence among millennial couples—buying behaviours are also shifting. While 80–82% of wedding expenses are still covered through savings, around 10% rely on loans and 6–8% liquidate assets.
In 2024, India recorded 124.3 lakh weddings, marking a strong post-pandemic momentum. This upward trend continued from earlier years and is expected to accelerate, with weddings projected to reach 180.8 lakh by 2032, registering a CAGR of 4.8%. This growth is also fuelling demand for bridal jewellery, underscoring the wedding sector’s resilience and its rising contribution to the national economy.
Chart 1: Total Number of Weddings in India, CY2024-32
Source: Industry Sources, CareEdge Research
Source: Industry Sources, CareEdge Research
The rise of destination weddings and thematic ceremonies has prompted demand for multiple Mangalsutra designs. Brides now seek elaborate gold pieces for traditional rituals and minimalist styles for more modern or informal functions. This shift has encouraged jewellers to diversify their offerings, enabling repeat purchases beyond the initial wedding.
Evolving Designs: A Fusion of Style and Sentiment
Although traditional Mangalsutras—characterised by black beads and gold links—continue to dominate, capturing a 62% share of the market in CY24, the preference for modern alternatives is rising. Designs featuring sleek lines, diamonds, and mixed metals now comprise 32% of the market and resonate particularly with younger, urban consumers who prioritise versatility and style.
Chart 2: Indian Mangalsutra Market: Break-up by Design (% share) for CY24(E)
Source: CareEdge Research
Customisation has emerged as a notable trend. Consumers increasingly request bespoke elements, including unique pendant shapes, gemstone settings, and tailored chain lengths. Presently, customised Mangalsutras account for approximately 5% of the market. Jewellers are responding by embracing advanced design technologies and personalised consultations, enabling them to cater to diverse tastes and preferences.
Material preferences reflect shifting choices considering prices
Gold remains the market leader in Mangalsutra, and 22K gold accounts for 52% of the share because of its long-standing tradition of symbolizing security and affluence. Nevertheless, an price increase—from around Rs 67,175 per 10 grams during April 2024 to Rs 90,050 as of 24th April 2025—has forced consumers to question their decisions, tending towards lighter or affordable options.
Chart 3: Indian Mangalsutra market breakup by material type (% share) for CY24(E)
Source: CareEdge Research
Note: Others include Beads, Synthetic Metals, Semi-Precious stones, etc.
Silver Mangalsutras, now commanding a 31% share, offer an affordable and wearable alternative. Their simplicity appeals to younger consumers who seek practical, everyday options. Meanwhile, diamond Mangalsutras hold a 12% market share, gaining popularity among those who value elegance and symbolic distinction. Fusion designs, incorporating gold, silver, and diamonds, are also gaining ground as jewellers strive to serve a broader demographic.
Market Outlook: Strong sentiment supporting healthy sales growth
Gold Mangalsutras continue to represent nearly 52.3% of the total market, but interest in alternative silver or diamond variants is also attracting more consumers. Going forward, these changing consumer preferences will encourage many new replacement and repeat purchases, creating fresh opportunities for jewellers.
In contrast to the overall demand for gold jewellery, which declined by 2.3 percent year-on-year in CY24, the Mangalsutra market demonstrated remarkable resilience by maintaining double-digit growth. As weddings continued and consumer preferences evolved, the Mangalsutra adapted accordingly embracing new and exciting designs without compromising its cultural significance.
A commitment symbol and a personal style will keep it constantly relevant in India’s jewellery landscape, full of diversity and dynamism.
By Invitation
Diamonds Reimagined: The Rise of Lab-Grown Elegance
By Akash Talesara
President : Sky Gold ltd.
Celebrity Endorsements of LGDs
Celebrity endorsements are pivotal in transforming ethical luxury from an idealistic concept to a mainstream trend. When well-known figures embrace lab-grown diamonds, they redefine luxury by blending style with responsibility. These endorsements break the notion that luxury is only about exclusivity and excess, shifting the narrative to one where ethics and beauty coexist. As consumers increasingly prioritize sustainability, celebrities make it easier for them to align their values with their purchases, normalizing lab-grown diamonds as the future of luxury. This shift is not just a trend—it’s a cultural movement led by those who hold significant influence.
Global jewellery brands leveraging celebrity stardom
Global jewellery brands are tapping into the power of celebrity to position lab-grown diamonds as the next big thing in luxury. Celebrities bring visibility, credibility, and aspirational value to these diamonds, helping brands reframe them as a symbol of modern luxury. Through collaborations and campaigns featuring stars, jewellery brands communicate that lab-grown diamonds are not only ethically sound but also high-end and exclusive. These celebrity endorsements connect luxury with conscious consumption, shifting consumer perceptions and setting a new standard in the luxury market. This strategic use of star power helps lab-grown diamonds carve a niche as the future of sustainable luxury.
Celebrity collaborations driving the popularity of LGDs
Celebrity collaborations are a game-changer in how lab-grown diamonds are perceived. When icons align themselves with these diamonds, they make the concept of sustainable luxury not just appealing but aspirational. Through their influence, celebrities turn lab-grown diamonds into a desirable, high-status item, making them relatable for the general public. By wearing and endorsing these sustainable gems, they make them accessible to a broader range of consumers. These partnerships not only elevate the diamonds’ appeal but also serve as a bridge between high-end luxury and everyday luxury, making it more attainable for a global audience.
Millennials and Gen Z driving the shift toward LGDs
The jewellery market is shifting gears, embracing sustainability, ethical practices, and personalized designs like never before. Millennials and Gen Z are leading the charge in the lab-grown diamond movement. These diamonds are made with minimal environmental impact, offering a more eco-friendly and responsible choice. It’s not just about the sparkle, it’s about supporting brands that stand for authenticity and integrity. This change is reshaping the jewellery industry, blending craftsmanship with conscience and redefining luxury as a perfect balance of elegance and ethics.
By Invitation
How to position your store in the jewellery market
Strategies for Success: Effectively Positioning Your Jewelry Store in a Competitive Market
Shivaram A is a much sought after mentor, consultant, trainer and speaker across multiple industry platforms. He founded Retail Gurukul in 2012 as a Consulting & Training company. Shivaram has since helped and continues to help retailers and manufacturers, significantly improve their business performance across various metrics.
Shivaram’s A Guide to Jewellery Retailing-Consumer facing operations is ultimate resource for jewellery store owners striving for success in today’s competitive market. Discover the secrets to making your jewellery retailing store succeed, draw in a steady flow of customers, and cultivate lasting loyalty. This comprehensive guide offers actionable advice and real-world examples to elevate your store’s aesthetics, service quality, and sales performance. This is an extract from A Guide to Jewellery Retailing-Consumer facing operations.
From the small corner-store goldsmith to the high-end boutique jeweller in their own high-rise building, jewellery retailers come in all forms and sizes. With the Indian jewellery market teeming with nearly 300,000 players, every jewellery retailer must position themselves uniquely to make their presence known in this competitive scenario.
As a jewellery retailer, you first have to decide whether you want to remain as just a “store” or create a “brand”. But what is the difference?
A “brand” has some definable qualities by which it can be uniquely identified. These qualities or features form a perception in the minds of the customer which is called its brand equity.
As a jeweller, you can project certain aspects of your jewellery merchandise or customer service as brand quality.
Look at how PC Chandra, the renowned Kolkata Jewellers are trying to position themselves with the help of the famous creative agency J Walter Thompson (JWT). Ayan Chakraborty, VP and executive business director, JWT Kolkata, said, “PC Chandra’s intricate craftsmanship and the brand’s unique image in the minds of Bengalis all over the world is something we kept in mind while working.”
Arjun Mukherjee, VP and ECD, JWT Kolkata, added, “The challenge was to create a philosophy for the brand which every modern woman will relate to. We went beyond the beauty space in jewellery and tried to find an emotion that will resonate with one and all.”
You too can position your jewellery outlet as a unique brand by defining its values and expressing your trade philosophy in the following ways.
Ways in which you can position your outlet
Jewellery stores fall into certain categories. First, try to identify which category you belong to, and then add value to it by defining your strengths. You may be a:
1. Personal Jeweller
When a customer looks for jewellery “tailor-made to his taste”, he comes to the personal jeweller. The Personal Jeweller highlights the uniqueness of design, exclusivity and personalization as his value points. Elite and royal families of illustrious lineage and social celebrities often prefer to have their own personal jewellers.
As a Personal Jeweller, you must vouch for your individuality in design and integrity in trust. If you possess Jewellery design software and have bagged Jewellery design awards, you really can boast of being a genuine Personal Jeweller.
2. Ethnic Jeweller
For people who have a taste for traditional and ethnic designs, the Ethnic Jeweller is the destination. As an Ethnic Jeweller, you must have profound knowledge in temple designs and must have the capacity to reproduce them without even the slightest difference. Polki, Jadau, Tanjore, Chettinad and Malabar designs feature as ethnic offerings.
3. Modern Jeweller
For the young and trendy, the Modern Jeweller is the person to call on. The Modern Jeweller must dabble in fusion and fashion. Rhodium, Rose gold, Platinum and 18k designs are part of the modern offerings.
4. Boutique Jeweller
The boutique Jeweller is the guy who prides himself on his jewellery range and exemplary service. These artistic showrooms offer an appealing ambience and a comfortable customer experience. Boutique Jewellers have several jewellery lines made by different designers.
5. Estate Jeweller
If you are looking for antique jewellery or vintage heirlooms, the Estate Jeweller is the guy to go to. As an Estate Jeweller, you must have the resourcefulness to seek and procure historic jewellery with sufficient proof. Estate jewellers are very expensive as they deal with high-end jewellery collectables.
6. Main Street Jeweller
The Main Street Jeweller has the sole objective of capturing the interest of the urban audience. He caters to them with an eclectic mix of traditional and modern jewellers with their latest preferences in mind.
7. Chain Store Jeweller
With branches at multiple locations, the Chain Store Jeweller prides itself on its wide geographical presence and popularity. His network of stores may be at diverse locations but portray the same brand image.
Steps to position your Jewellery store
1. First, identify yourself with a particular Jeweller category among the ones listed above.
2. Outline your strengths in stock, service, range, design etc. 3. Zero in on your “unique selling points” – is it affordability, service, repair facility, cost savings…
4. Crystallize your brand persona as a brand image with the help of expert consultants like Retail Gurukul who can bring to light the hidden values of your brand.
5. Position your brand with this persona by forming a unique brand image and taglines.
6. Popularize your brand using these brand messages and establish your brand.
Your brand is as precious as your jewellery. Position it with perfection to reach the pinnacle of success.
-
BrandBuzz2 months agoMia by Tanishq Unveils ‘Fiora’ Collection This Akshaya Tritiya: A Celebration of Nature’s Blossoms and New Beginnings
-
GlamBuzz1 week agoGokulam Signature Jewels Debuts in Hyderabad with Glamorous Launch at KPHB
-
National News1 week agoEmmadi Silver Jewellery Launches First Karnataka Store with Grand Opening in Bengaluru’s Malleshwaram
-
DiamondBuzz1 week agoDe Beers CEO: confident the US will exempt diamonds from reciprocal tariffs