Exclusive Interview
Q.1 Please tell us more about Augmont app? How does it work?
Augmont App is a platform that helps buyers to purchase gold and silver just with a tap of your finger at the Best Price Guaranteed. When you think, the traditional way of buying gold comes with a lot of inconvenience. Buyers have to make physical trips to a jeweler, pay unverified prices, and worry about purity and then about storing it safely. We wanted to acknowledge all these problems and come up with a one-stop solution. Being one of the best and innovative precious metal company in the country, we wanted to give our consumers the best solution possible. Hence, with the help of technology we introduced Augmont App earlier last year.
Augmont app brings together the best of online and offline purchase options with its advanced features and solid offline presence. Being one of the largest gold refineries in India, we have way more control over quality compared to our other counterparts and is able to offer benchmark prices as compared to any other platform and the same benefit is made available to the retail consumers. Buyers can purchase gold at lowest price of Re.1/- giving them the power to invest in gold and silver as per their convenience. Customers can ask for home delivery of physical gold as low as 0.1 gram which is a Gold coin costing less than Rs.500/- . All you have to do is register on our app, enter the amount of gold you wish to purchase select the mode of payment and the rest is taken care by us. We will store the physical gold in a 100{2cb06f42ddc66cf70b5932cd822494d08be813b22fe747a0a6773f2305a2978c} secured lockers that is controlled and monitored by IDBI Trusteeship Services. The gold stored is so safe that even Augmont cannot access it unless the customer asks for doorstep delivery or decides to sell back to the company. For those who like to keep their gold with themselves, we will deliver it to your doorstep within 3 days to virtually every Indian corner.
For buyers who want to buy gold regularly in a disciplined manner, there is the option of very convenient monthly SIPs, available in multiples of 1000.
If one wishes to encash profits, a few simple taps on the app help in selling your gold at real-time market prices, and the money appears within minutes in the bank account. And no matter how much gold you buy, it is all 999 pure, ensuring you get nothing but the best.
Q.2 Who are your customers and how the app benefits them?
Anyone with a Smartphone who wants to buy or invest in gold through our app is our customer. We have received request for gold worth Re. 1/- to Rs.1 crore. We get request from a normal individual to a retailer. Large number of demand through our app comes from South India.
As mentioned earlier, our app is a one-stop solution to all the problems that buyers face while purchasing gold traditionally. Additionally it provides buyers with the flexibility of choosing the amount and/or quantity of gold as per their convenience.
Q.3 Where do you store the physical gold?
Once the gold is purchased it is stored in a 100{2cb06f42ddc66cf70b5932cd822494d08be813b22fe747a0a6773f2305a2978c} secured locker which is regulated by IDBI trusteeship services. We are very particular about the safety of the gold purchased by our buyers and don’t compromise with the safety of the products whatsoever.
4 Do you think online gold buying is becoming an alternative for people who don’t want to go out and buy gold from retail stores?
Definitely. Today with the easy accessibility of technology the process of buying is made very convenient. It may be buying clothes, food or even gold the digital medium is the most preferred and comfortable medium of purchasing today especially with the millennial who want everything at the tip of their finger. Why go out when you can get it at your door step? That’s the ideology of the generation today and digi-gold just fits perfectly. Of course, the concept is new and it will take some time for everyone to be comfortable with it without any apprehensions but it’s working very well with our young audience.
Q.5 Do you think online will replace offline in future? If yes then why?
In the longer run Omni-Channel will lead the way. It’s not about Online or Offline, it’s about the right balance between Online and Offline. For E.g., Big retail brands like Walmart have their investment in e-commerce brands like Flipkart, thus having both offline and online presence. Offline outlets are using online methods to ease customers’ life. Hence, Omni-Channel is the future.
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