Marketing Strategy Of Giva

Well before the inception of GIVA, the founders recognized the importance of conducting comprehensive market research to gain insights into consumer needs and behaviors.

Their entire marketing strategy and digital approach have been built upon this foundational step. The research unearthed some eye-opening facts, such as the average consumer expenditure on jewelry in the United States, which ranged from Rs. 9,000 to Rs. 10,000. In India, however, this average spending was three times higher.

Traditional Indian customs encourage consumers to invest in gold jewelry as a way to commemorate significant life milestones.

Additionally, gold and silver jewelry purchases have been historically considered investments for the future. Surprisingly, the GIVA team uncovered a willingness among Indian consumers to explore alternative jewelry options that they also saw as investment-worthy.

Another intriguing revelation was that consumers were hesitant to purchase gold online, even when presented with a wide array of choices.

In the realm of artificial jewelry, options were abundant, but consumers were less concerned about the need for investment.

Thus, consumers found themselves at a crossroads, needing to choose between variety and investment, unable to have both. These findings influenced the development of distinct marketing strategies.

Within this gap, GIVA identified a golden opportunity. In 2019, they ventured into the sterling silver jewelry market.

Armed with a modest initial investment of Rs. 10,00,000, a limited range of products for their inaugural collection, and a website, the brand made its debut.