Jewellery is a precious commodity to purchase, and every customer wishes to take a cautious decision. Most of the purchase decisions of the jewellery customer is dependent on her “perception” of the brand or the jeweller. Keeping this in mind, certain parameters can be defined to help the customer make a quick and correct decision.  For example, while buying diamond jewellery, 4 factors were considered as the “C”s- cut, carat, colour and clarity of the diamonds. 

Likewise, the present customer’s buying behaviour rests on the 4 new “C”s of Jewellery Retail. What are these 4 new “C”s?  Let us take a look.  

The 4 new “C”s  

Today’s customer’s mindset has undergone a huge transformation due to the accessibility to international trends and markets (maybe due to travel or just social media) and a wide range of designs and services are now available at jewellery stores. The buying behaviour of the current customers is governed by certain factors which are  depicted below.  

Observing the rankings (see Figure “Factors considered while  selecting a Brand”), we can conclude that a jewellery customer’s  purchase decision is based on the 4 new “C” s – Cost, Confidence,  Convenience and Customer Service. 

1. Cost- the first “C” 

Let us face it. You, me and almost every Indian is very price conscious.  Thus every customer wants to have the full value for her money- “Full  paisa vasool / Good Deal” This is more so in the case of jewellery  retail due to the high costs involved in the purchase.  Cost is thus  the dominating factor in the purchase decision of a jewellery  customer. This cost of jewellery includes the making charges and  the cost of the gold paid out as wastage. If this final cost looks  affordable and justified to the customer, you, the retailer can make  a sale.  

So, the first “C” in the purchase decision is COST and as a jewellery  retailer, you must position your brand rightly with respect to  “cost”. 

There are brands where the Making Charges / Value Addition is advertised in Bold while there are other brands like Malabar Gold or Tanishq, which may  not be the cheapest in pricing but will want to still offer “Value for  Money” for their set of customers. These customers might be very  different from the customers for say a price warrior brand, but their customers also  believe that the cost is worth it.  

2. Confidence- the second “C” 

A customer’s confidence in the jewellery brand starts with how the brand meets her expectations right from her first interaction during say marketing communication, her first purchase and goes on to maintain that confidence that is reflected in her  repeat purchases and referrals. Word-of-mouth referrals and  relatives’ recommendations still form some of the influencing  factors of jewellery purchases.  

Trustworthiness of a brand is a mark of the confidence the customer has in the jewellery retailer and this is an aggregate of several factors which include purity, pricing, discounts, shopping experience, after-sales  service etc. A customer, who feels that the jeweller can give her

the best in all the above factors, has typically won her confidence. 

This clearly shows that the “confidence” of the customer in the  brand is emerging as the second “C” and it is the most important  factor in brand perception and purchase decision.  

3. Convenience- the third “C” 

Jewellery is still a “touch and feel” market where purchases are  made in person. But of late, convenience in jewellery shopping is  emerging as one of the decisive factors in jewellery purchase.  

Today’s customers are well-informed about the price  fluctuations, making charges, wastage, and design options etc. even prior to the actual physical purchase at the shop. The presence of a  website or social media like Instagram/ Facebook etc. with a design gallery and price estimates are often appreciated by customers as it  helps them in planning their purchase. Such a convenience-driven  model of business with knowledge-empowerment is the call of  today for jewellery retailers.  

This is why Convenience is emerging as the third C in brand positioning or purchase decisions.  

Customers look at “customization” as part of the convenience  offered by a jeweller. The convenience of customization is an added benefit offered by jewellers. Convenience also  means service benefits that the jewellery outlet offers like “home  delivery” or”gifting options”.  

4. Customer service – the 4th C 

A jewellery purchase is an emotional decision for most buyers as they attach great sentimental and personal value to the jewellery they purchase. This is why customers look for a “positive shopping experience” when they come to buy jewellery. This positive shopping experience is founded on the 4th C -customer service. 

Customer service involves not only hospitality and friendly  greetings but also expertise from the staff. Customers expect well informed staff to guide and advise them on their jewellery choices.  

Ganesh Jewellers of Mumbai wish to position themselves with  respect to their customer service. Look at what they say – 

Right from the marketing communication, the entry to the store/  website, the warm welcome, the store atmosphere, the hospitality  gestures, the offers on the merchandise including the range, the price, the design etc. to the customer-handling, everything in your  jewellery outlet should enrich the 4th C – the customer service. 

The Jewellery industry may see its ups and down regularly, but if  you keep these 4 Cs in mind and position your brand or jewellery  outlet, you are sure to be the champion of jewellery retail in your  market and beyond.