The jewellers need to track economic signature of consumers in terms of earning and expenditure

In her comprehensive presentation, Aparajita Basak – Associate Director, Micro Marketing & Economics, Nielsen India Pvt. Ltd. discussed the nuances of locational analytics. According to her, without the right touchpoints, retail will prove effective. She discussed in detail case studies on how to select potential markets.

“’The jewellers should prioritise the location. They should identify which locations or catchments have the largest revenue potential. They should zero in on the right sales location, may be with the prospect of cannibalising the existing system,” said Basak.  When one looks at a particular location, the jeweller should analyse the consumer characteristics and location characteristics. Another key element is trade characteristics. “One must also factor in dynamics of his/her competitors, their target market and strategy for growth,” said Basak.