A chat with Shalabh Atray, senior vice chairman, advertising and digital, Rupeek, on ‘gold tech corporation’ Rupeek’s maiden advertising day out and the category it plays in.
Unlike other fintech players, the massive opportunity for Rupeek, a ‘gold tech enterprise’, lies in monetizing the giant amount of gold that Indian families personalize. The precious steel is considered to be a dead asset, except its miles utilized well.
Shalabh Atray, senior vice president, advertising and digital, Rupeek, says, “the amount of family gold this is sitting idle in India and is completely unutilized is worth approximately $2 trillion, that’s extra than the combined GDP of nations like Germany, Switzerland and the UK.”
He believes that this unutilized asset isn’t always desirable for the Indian economic system as well as individuals. The motive for this is that after the emotional boundaries related to gold are taken away, it’s miles as desirable as some other monetary asset and can be used to satisfy one’s financial needs.
Atray is a virtual-first marketer, with experience in remodeling agencies, manufacturers, and teams throughout multiple agencies, geographies, and classes. He has labored with brands like Hindustan Unilever (HUL), and Lakme and Kraft Heinz in Australia. Now, he’s a main digital marketing and emblem-building effort for Rupeek.
As in step with the latest world Gold Council report, the organized gold mortgage market acquired a sizeable push because of the COVID pandemic and the current monetary downturn. The market is expected to grow to over Rs 4 lakh crore this economic year (2021-22). It is expected to grow at an annual price of 15.7 in line with cent to Rs 4.6 lakh crore in FY22, up from Rs 3.4 lakh crore in FY20, the record stated. It added that the call for gold loans, each thru banks and non-banking monetary organizations (NBFCs), has grown in reaction to the financial effect of the pandemic.
With a mission to convert the gold mortgage class digitally, Rupeek pursuits to check out gold monetization, which isn’t always something new and has existed for pretty a while.
In India, securing loans against girls’ jewelry is often viewed because of the final motel for families. They go for this option most effective once they run out of all different monetary belongings.
Rupeek’s maiden country-wide campaign features ‘The circle of relatives man’ couple, actors Manoj Bajpayee and Priyamani. It tries to ‘inspire’ Indians to take pride in the usage of ‘their’ gold to access credit in a secure, private and tension-unfastened way.