Understand the changes the market is going through, innovate and listen to your customers

In her insightful presentation, Vivette D’cruze, director –consumers products and retail – Ernst & Young LLP spoken about the key principles of expansion.

“But before you expand, you must know what the value you want to offer to your customer while expanding. You may have six months of good sale but how to sustain that growth?” asked D’cruze.

She prescribed, “The jeweller should have a clear defined strategy, the way you want to expand. You need to open to continuous feedback from ground and making changes to accelerate on the growth on path.”

The jewellers have to make products available on time. “If a retailer has all the resources to give the customer the product, after expansion, if the product delivery cycle goes up to 20 days, that’s a bad customer experience. The retailer has to offer ensure consistent experience.