All the reasons why retailers should hold in-store events

In order to stay competitive, retailers these days have to up-level their relationships with their customers, and think of innovative ways to do so. This is all the more so in the field of jewellery retail, which is markedly different from other forms of retail. Holding in-store events might just be what the doctor ordered, says Suneeta Kaul

Post By : IJ News Service On 10 March 2023 3:24 PM

Jewellery retailing is not just about selling – it is about retailtainment. Jewellers have to create immersive experiences that stay in the minds of customers and have a positive impact on them. A practical and convenient way out is holding in-store events. Though a bit restrictive in nature, in-store events can show immediate results.

Underlining the importance of holding such events, Kailash Kabra, KK Jewels, Ahmedabad, says, “A number of jewellers are doing back-to-back exhibitions these days, and are giving catchy names to their collections. Since we are a premium store, we are more into concept exhibitions. For instance, we recently had an event for temple jewellery. Our invite, our store décor, everything was in line with such a collection.”

Tying an event held within the premises of a store to social media produces even better results. Explains Kabra, “Retailers should create a calendar of a events in a year because such events definitely increase sales. And if we throw in the social media component, it adds a lot of glamour to the event. The reach is at once much broader. Even those who cannot come to the event feel connected via social media, and the brand reach becomes far more broad-based.

“I personally do not think inviting the press to such events is a good idea. It is far better to do a blogger meet. Several stores invite celebrities to add the glamour quotient, but it can become quite expensive. Inviting celebrities, thus, depends on the budget of the retailer. We have never invited celebrities. We would rather spend that money on décor, ambience, activities, food, and so forth.”

Adding star power to in-store events

However, celebrities do add star power to events. And retailers are not at all averse to having them at in-store soirees. Says Nakshatra Mehta, Rare Heritage, Mumbai, “In-store events are a very useful way of creating a buzz around a store, or a brand. We had an event some years back, and it gave us very positive results. We had invited Hindi film personalities such as such as Malaika Arora, Raveena Tandon, and others.

“Though such events are high-cost, they can result in higher sales immediately. In the recent past, we have also hosted a display of diamonds, which were replicas of the top-100 diamonds of the world. Such in-store events create a lasting impact. They are crowd-pullers and even passers-by, who may not intend to buy from us, walk into the store out of curiosity. Some of them often end up becoming buyers.”

How much is too much?

While there is near unanimity that in-store events are very helpful, their frequency remains a question of debate. Some retailers feel such events should be spaced adequately, others are of the opinion that in order to stay in the minds of customers, jewellery retailers should hold events fairly regularly.

“There is so much competition these days that retailers have to think of ways and means to stand out. In order to ensure top-of-the-mind recall, such events should be hosted two to three times a year,” opines Abhishek Kapoor, Solitaire Diamond Boutique, Kanpur, adding, “We are hosting an exhibition of polki diamonds and temple jewellery from February 8 to February 10. We are inviting close friends, who are also our customers, a day before the event to a Wine and Cheese party, during which we will host a preview for them.

“Similarly, we hosted a private exhibition in Lucknow a while back, and invited 100-150 clients. That also turned out to be a fairly successful event. At such gatherings, people click pictures and post them on social media, particularly Instagram. Social media ensures that even those who are not able to attend the event physically connect with the brand, and with the store.”

The nature and frequency of in-store events depends on the city and the budget of the jeweler. In smaller cities, retailers often find that a wedding-themed event never goes wrong. Says Shreyansh Kapoor, Kashi Jewellers, Kanpur, “We held a wedding show special recently in our store, during which we offered special discounts on making charges. The response was very good, and it helped us ramp up our sales. Doing anything out of the ordinary will surely create a buzz. And an in-store event is the perfect way of creating excitement around a brand. Throw in social media, and results are practically guaranteed!”

While in-store events do not come cheap, they can not only show immediate results in terms of sales, they also provide long-term benefits – such events ensure brand recall and leave customers with pleasant memories, which often transforms them into loyal clients.

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