Convinced about the convenience and security of online deals, net-savvy Indians are now shopping for gold and diamond jewellery online. With this, most online jewellery portals are pegging to double their sales this festival season.
“Indian consumer is moving the global way with credit card comfortability, online banking safety and fear of dealing with heavy traffic and rush,” said Ms Shipra Jain, chief merchandising officer of Bluestone.com, a leading online jewellery store.
“As all gold and diamond jewellery retailed online comes with certification from authorized bodies and there is a lot of trust,” she added. The firm is confident of 30-40 per cent more business this year.
Schemes like cash on delivery and return options have lent more credibility to online shopping, said Mr Tej Kapoor, VP Fashion Category of Tradus.com.
“Customers get wider choice to check out for jewellery options than in retail format stores and hence lot more impulsive purchases happen when a good deal is offered,” he added. With even top brands going coming online, jewellery e-commerce space is in for a sea-change.
Leading branded jewellery retailer Gitanjali Group, which entered the online segment recently, is expecting up to 40 per cent growth in sales during the festive season.
Similarly, GRT Jewellers, one of the top name in Chennai gold market, who ventured into the cyber space recently, is also pegging good sales through the medium.
“We have tied up with more e-commerce and jewellery portals to ensure that our collections reach all,” said Mr G.R Ananthapadmanabhan, MD, GRT Group.
Precious jewellery apart, the demand is up even for 18-carat fashion jewellery that has impelled European brands like Juvalia & You to launch India portal.
“Rural folks too want branded jewellery and to reach out to rural markets, we have even appointed agents in smaller cities,” said Mr Chaitanya Aggarwal, CEO of the portal, hoping to earn revenue of $0.5 million per month by the end of this year.