Tanishq hopes financing will push sales

Tanishq, the jewellery brand from the house of Tatas, is looking at 50 per cent sales surge during this festive season, on the back of introduction of new range to cater to the season, as well as innovative financing schemes.

According to Dwaipayan Sen, regional manager-east, Tanishq, “We have introduced around 3,000 new products targeting the festive season this year. Typically, 40 per cent of Tanishq collection is launched during this season.”

Moreover, its financing schemes like 'golden harvest' is expected to boost sales.

Tanishq’s Golden harvest Savings Scheme enables customers to save each month and plan for wedding jewellery purchases.

 

“This scheme provides customers much better returns than other saving options like bank deposits or post office savings schemes. Tanishq’s special bonus at the end of the scheme period helps stretch the jewellery budget,” Sen claimed.

Customers need to invest Rs 500 per month to enroll. Customers could also deposit a larger sum as long as they are in multiples of Rs 500, and can choose from two convenient savings scheme options - an Annual Plan (12 month installments) and an Extended Plan (18 month installments).

If a customer started saving with a monthly installment of Rs 1000, there is the flexibility to vary the subsequent installments, like reducing the next month's installment to Rs 500 or even increase it to Rs 10,000.

If a customer misses an installment deposit, customer will continue to be a member of the scheme, the only change being that the eligibility for purchase will be postponed by the number of cumulative days or months that payment has been missed. In case of any payments being delayed or not made on the maturity date, the bonus amount will be appropriately reduced.

The benefits include savings that fetch better returns than the other savings options. Also, customers have the option of transferring the account among 94 stores across 68 towns and cities, and can use this to plan jewellery purchases in advance.

Tanishq has also announced a special Durga Puja offer across all Tanishq stores in the east, where customers will be rewarded with free diamond jewellery on purchase of Tanishq jewellery.

This offer will be valid between September 19 and - October 9.

Keeping in mind the local tastes and preferences, tanishq will also offer a wide repertoire of regional designs and additional stock of diamond jewellery.