On the auspicious occasion of Akshaya Tritiya, MediaBrief speaks to Sampurna Rakshit, Marketing Head of Mia by Tanishq, and Vikas Singh, Managing Director and Chief Executive Officer of MMTC-PAMP, to find out how their brands are commemorating this event and engaging with customers. Read on.
Speaking about the auspiciousness of Akshaya Tritiya, Sampurna Rakshit, Marketing Head – Mia by Tanishq, says, “Akshaya Tritiya holds immense significance in India, deeply rooted in tradition and cultural beliefs. Bringing home jewellery, gold, and other precious metals on this day is believed to be a harbinger of prosperity and abundance into the household.”
Outlining how Akshaya Tritiya influences the jewellery buying behavior of consumers, Vikas Singh, Managing Director and Chief Executive Officer of MMTC-PAMP, says, “Akshaya Tritiya holds great significance to start something new in their life, be it personal or any other new initiative. Purchasing gold on Akshaya Tritiya is considered an auspicious time to invest in gold and silver products, as it is believed that it brings good fortune and wealth.”
“The emotional and cultural significance attached to the occasion prompts individuals to make significant purchases, often for themselves or as gifts for loved ones,” he adds.
In the context of purchasing jewellery during this significant day and how Mia by Tanishq is gearing up for it, Rakshit says, “Our latest collection, ‘Glow with Flow,’ inspired by the gentle winds and river streams, was launched to represent new beginnings and the arrival of prosperity, symbolized by the abundant flow of the river, wind, and other natural elements.”
Gilded prospects for jewellery brands
Underscoring the opportunities that jewellery brands can unlock on Akshaya Tritiya, especially in terms of sales and customer engagement, Singh says, “Akshaya Tritiya is one of the most auspicious occasions for purchasing Gold in India. The belief that purchases made on this day bring prosperity and good fortune helps drive a surge in demand for gold and silver products. The same can be beneficial for us to capitalize on this heightened interest by offering exclusive collections tailored for Akshaya Tritiya.
“As India’s most trusted brand, we deliver the highest levels of purity with the Finest Swiss craftsmanship in all our offerings. Recognizing the importance of Akshaya Tritiya, we are offering finely crafted Purest 24K, 99.99%+ Gold bar featuring the revered Goddess Lakshmi. Our diverse portfolio of products embodies our commitment to offering our customers a timeless motif of wealth and blessings,” Singh adds.
Rakshit outlines how Akshaya Tritiya serves a major business opportunity for brands like Mia by Tanishq, which are in the fine-jewellery space, because it’s a time when consumers actively seek to make meaningful purchases.
Moreover Akshaya Tritiya offers a unique chance for brands to engage with customers at a deeper level, tapping into the emotional and cultural significance of the occasion, this fosters brand loyalty and long-term relationships,” says Rakshit.
Gold remains the perennial favourite
On what are the higher selling items during Akshaya Tritiya, Rakshit says, “During Akshaya Tritiya, gold remains the favourite among consumers. With rising gold rates, 14 carat and 18 carat lightweight jewellery has been gaining favour this time round and, ofcourse gold and silver coins are also in demand as they are symbols wealth and prosperity.”
Singh says, “For any purchasing reasons – social, cultural, traditional – gold’s timeless appeal and purity make it a reliable store of value as it weathers economic and political headwinds.
“Gold inherent beauty adds an emotional dimension, intertwined with cultural significance, for a sense of satisfaction beyond mere monetary gain”. However, Singh recommends that “For minted products such as bars and coins, it is advisable to choose the highest purity with positive weight tolerance, which means purchasing a minted gold product weighing more than the stated weight on the packaging.
Singh adds, “Reputable sellers offer 99.99%+ (999.9+ purity) purest gold products (24K) made with the finest Swiss craftsmanship, which enhances the investment value. Higher gold with the highest purity fetches higher value, reflecting its rarity and pristine beauty. Hence, it is always advisable to get the highest possible purity level at 24 karats which is 99.99%+ (999.9+) when buying gold,” says Singh.
Marketing blueprint for Akshaya Tritiya
Speaking about the marketing initiatives or strategies that MMTC-PAMP is backing to make the most of this auspicious occasion, Singh says, “In the festive season, at MMTC-PAMP, we have initiated unique social media campaigns to engage our customers and build brand recall. We undertook a 360-degree visibility campaign, including online ads, print media presence, and OOH displays in high-traffic areas.
“Recognizing the shift towards online purchases (77% of consumers prefer it), we provide constant updates through our online channels to promote products and keep our customers informed. We are targeting a range of demographics from young investors, seasoned consumers, and high-income individuals through targeted ad campaigns, vernacular approach, and product placements on popular platforms like Amazon, Meta, and YouTube,” says Singh.
Speaking about the comprehensive marketing strategy that Mia by Tanishq has deployed to capitalize on the occasion, Rakshit says, “In addition to a strong digital performance plan, we have deployed a robust print plan in leading publications across major markets of the country. Our Ad variant is a fan favorite and is showing significant sell-through numbers.
“Additionally, we have partnered with influencers across cities to promote buying for Akshaya Tritiya and Mother’s Day, which customers also get as sponsored ads on their feed. This is in addition to buzz generation, brand building, promoting our exclusive offers, and latest collection launches on our social media and PR channels,” adds Rakshit.
Making Akshaya Tritiya special
Highlighting the special services and offers that Mia by Tanishq has lined up for Akshaya Tritiya, Rakshit says, “In addition to special Akshaya Tritiya discounts of up to 15% off, through which customers can buy more, save more to maximize savings on their purchases until May 13th, we are also running a special Gold rate protection offer, where customers can pay a certain advance and book a piece of jewellery to freeze the gold rate on that day, as insurance against rising prices around Akshaya Tritiya.
“Additionally, we have made sure to stock up on coins of varying denominations, jewellery across price ranges, multiple billing counters, and staff to ensure a seamless Akshaya Tritiya for our customers.
“On our website and app, customers can make use of the offers and order products of their choice across the Mahurat period. Our AI-powered smart Mia chatbot along with our focused team of customer care operators are available to make our customers’ online journey an absolute delight, every step of the way,” Rakshit adds.
Tech for better shopping experience
On how MMTC-PAMP is using technological and digital solutions to enhance the shopping experience on Akshaya Tritiya for customers Vikas Singh says, “Our products at MMTC-PAMP are evaluated using German X-Ray Fluorescence Technology, which provides on-the-spot analysis of impurities in gold and silver. This method is far more accurate than chemical methods and the traditional touchstone method.
“Further, our range of services for the industry includes fire, spectrometric, ICP, X-ray, and chemical assays. The assay laboratory is certified by the International Organisation for Standardisation (ISO / IEC ‘17025: 2005’ Accredited) by NABL and provides much-needed infrastructure services to the Indian gold ecosystem, resulting in becoming the provider of India’s Purest Gold and Silver. This is further complemented to our digital gold customers who can be assured of getting the best and purest gold to bolster their investment portfolio.
“We have ensured that our products are of high quality and in wide range across PAN India through MMTC-PAMP stores, online and partners,” Singh concludes.
