Retailer plays on brand trust as it tells consumers to cash in gold.
H Samuel has launched a TV ad campaign to promote its cash for gold service that launched last year.
The 59-second ad plays on H Samuel’s strength as a well known high street brand and reassures consumers that they can trust the service. While no other cash for gold services are mentioned in the advert, the actors allude to “other places” that will buy gold. One actress says: “I’d heard about other places that would buy my gold but this one is on my high street.”
For added piece of mind H Samuel offers to film consumers’ envelopes of gold jewellery being opened and weighed on a web cam so that there is full transparency.
The ad tells consumers that H Samuel will purchase any white or yellow gold and will guarantee good prices. Consumers can post gold to H Samuel in pre-paid envelopes that they can order online or pick up at the chain’s stores.
Last month precious metals analyst GFMS forecast another peak in gold prices in the second half of this year which it said could cause another spike in consumers selling gold jewellery for scrap. Lat year the market was dominated by cash for gold companies and gold jewellery sold for scrap rose 27.2 percent to 1,674 tonnes in 2009.
The influx of post-based cash for gold services has brought closer scrutiny to the practice with the Office for Fair Trading launching an investigation into some companies involved to “consider whether they are complying with consumer protection legislation”.
Earlier this year consumer magazine Which? published the results of an investigation into cash for gold companies that revealed some of them to offer “shockingly bad value”. The report claimed that CashMyGold offered the lowest prices. Money4Gold and Postal Gold also came off badly when the organisation compared the prices offered by these organisations with prices offered by traditional high street jewellers and pawnbrokers.