Across my post on Facebook, my Facebook Page, and LinkedIn the verdict was quick and 100% unanimous. Everybody (except 1) opted for Tata. And some responses were quite amusing.
My take:
Both Reliance and Tata are among the largest names in the marketplace and are the players in many categories. Despite that, Reliance got a very low score. Fine jewelry, may it be diamonds or gold, are indeed expensive and essentially are purchased from stores / individuals that are perceived to be trustworthy by the buyer. Watch my words… I said ‘perceived’. And perception may or may not be the reality. But once a perception is created, it’s hard to be dislodged from the consumer’s mind.
Reliance needs to do some soul-searching if they must survive in the jewelry business. Moving forward, I won’t be surprised if they put this division on the backburner.
The vote raises a point. If the Tata brand is trustworthy, Tata Tea should be the leader. It is not. Is trust required to sell only high-value products?
Your call.
