BlueStone launches ATM that dispenses gold; expects fourfold rise in sales

Online jewellery retailer, BlueStone.com has launched Gold ATMs to let shoppers purchase gold off a vending machine. The machines located at Forum Mall in Bengaluru and Select City Walk in Delhi are equipped to dispense certified 24 carat gold coins in denominations of one, two, five, ten and twenty grams.

The concept is aimed at providing exceptional convenience during the festive rush, the company said in a press release. First time buyers and men especially are expected to make the most of the gold ATM owing to its functional and practical aspects, it said.
“Introduction of the gold ATM during the festive season not only adds convenience to buying gold but is also a means to connect with our customers by providing them with physical touch points. Customers can purchase gold coins of multiple denominations by cash or card, making it ideal for buying gold for gifting or as an investment option,” COO, BlueStone.com, Arvind Singhal, said.
In addition to gold ATMs, the company has introduced over 250 new designs across categories and is also launching 4 new jewellery collections for festive season. It is also offering a half gram gold coin on purchase of diamond jewelry above Rs 20,000 and a 1 gram gold coin on purchase of diamond jewelry worth more than Rs 40,000.
The company has also launched a jewellery exchange carnival, allowing customers to exchange their old jewellery for new. With the aim of providing shoppers with the most accurate value for their existing jewellery, the company has introduced Caratometer, a hand-held device that accurately measures the purity of gold in ornaments. Representatives of BlueStone are equipped with these devices to serve customers at their door steps.