Jubilee Diamond’s new marketing strategy aims to expand customer range
Jubilee Diamond, a leading diamond retailer in Thailand, has announced a comprehensive review of its 2024 marketing strategy, aiming to strengthen brand communication alongside launching over 300 new diamond designs and collections.
The company’s CEO, Unyarat Pornprakit, said on Thursday that she believed the timing was perfect, as the domestic diamond and jewellery market were on the cusp of a revival.
Although Thailand's economy remains fragile, making people cautious in their spending, she says there are signs of demand for diamond jewellery among middle-income individuals who are consider purchasing to reward themselves as well as to collect valuable items.
"We have observed distinct behaviour among our middle to upper classes, who now regard diamonds as a worthwhile investment. As a result, to ensure that their purchases are rewarding, we [Jubilee Diamond] must communicate the quality, design, and verified standards that we always provide them," she said.
She pointed out that this year, 50 million baht had been allocated for a strategic marketing plan covering online/offline advertising nationwide, television commercials, presenter costs, and year-round events.
"All the work aims to focus on telling them [customers] that we are the most trusted brand in the country which serves products and services that are 100% customer-centric,” she said.
Meanwhile, the company has allocated approximately 100 million baht to open new stores, renovate all branches, and improve its backend system.
She emphasised that Jubilee Diamond is a data-driven company, and that the database system upgrade would undoubtedly enable the company to provide products and services tailored for each customer.
The development would also help to improve its loyalty programme and special events, enhancing customers' experiences, she added.
Currently, the company has 131 branches across the country. By the end of the year, it is expected to have around 135 branches.
She noted that the number may not increase significantly because some branches are scheduled to close this year due to their poor location.
The new marketing plan will promote the company’s unique new collections of over 300 designs of diamond jewellery in various sizes and prices to enable Jubilee Diamond expand the range of its targeted customers.
"While we are able to maintain our old customer, we can gain new customers as well," she said.
Citing the potential increase in diamond prices in the global market due to current supply constraints, Unyarat vowed to maintain their world-class quality with a wide range of optional prices so that all Jubilee Diamond customers could find their own diamond.
