Is Gems & Jewellery eCommerce Here to Stay?
Indian Jewellery Model: The Stimulating Rise of Digital Modes!
The digital revolution of online jewellery is a constantly evolving market and the story of the online trade of jewellery is increasing actively. Travelling back, India’s rooted connection with jewellery dates back to 5,000 years ago in the Indus Valley.
Interestingly, the country was the real manufacturer and exporter of beads in the world and it was home to diamonds, semi-precious stones and gold. Enveloping the current scenario, India is the largest importer of gold, which primarily caters to the demand of the jewellery domain. 2020 was no lesser than any rollercoaster for us. The pandemic that has hit worldwide has disturbed more than just the routine of individuals and the market, nationally and internationally.
Subsequently, the grass was greener for the forever-flourishing Jewellery Domain. Amid the COVID-19 crisis, the global market for Online Jewellery estimated at US$21.5 Billion in the year 2020, is projected to reach a revised size of US$58.9 Billion by 2027, growing at a CAGR of 15.5% over the period 2020–2027.
Digital World
It is true that online shopping has saved a day or two for most of us at some point. But when it comes to the gems and jewellery segment, apart from being a high-end market, this is more of a touch-and-feel business. Online retailing has helped many industries. However, gems and jewellery is a pricey market. So, the question that looms over is that is eCommerce in this sector just a pandemic-motivated phase? Or is it here to stay?
The rise of digital modes has countless benefits. With each passing day, everybody is turning to transact online for just about everything, thereby leading to increased traffic on the digital highway, both locally and globally.
In such a digital-led era, when from food to jewellery, everything is at your fingertips, it is necessary to walk hand-in-hand with its maneuvering advancement. The apt time to begin a successful Online Jewellery e-Commerce Business is now as it will be a win-win situation for aspiring jewellery retailers and next-gen entrepreneurs.
Digital growth of businesses
So how would the gems and jewellery sector, which is still a traditionalist segment at heart, survive and float on this eCommerce boom? It is important to note that we live in times where technology is part of our lives and an online business is not limited to a mere website. We are surrounded by social media, where bloggers and influencers have the potential to make anything go ‘viral’. The impact of such outreach is well-known to all of us. Even in our jewellery world, social media creates a good stage to showcase our products to a global audience in no time at all. And yes, in current times, when physical outreach is limited, the virtual world is a big lifesaver for our businesses.
These are the times when people around the globe turned to internet shopping. This gave the massive push to the digital boom and made this year a milestone for many eCommerce companies. The same platform goes for the gems and jewellery industry for B2B and B2C interactions and trade.
Signing into jewelxy.com helps you create a strong presence online, gain consistent and honest footfall that will eventually upscale your brand’s Return on Investment (ROI). Engaging efficiently and observing the mass productively will lead to an honest impression about the brand in the market. With the impactful execution of the Digital Strategy, your brand will be bestowed with organic reach and engagement.
There are many tools available in the market that exist to aid jewellery retailers, wholesalers and manufacturers to conduct their businesses online with a lot of safety and security measures in place. Appropriate deployment of these aids will also help businesses expand their online visibility faster.
Digital convenience is the only key to holistic growth!
To close, one has to realise that technology is unbiased towards us. The ones to move fast will have all the advantages. Success in the world of eCommerce is no longer dependent on past achievements and glories. The only way to effectively move forward for gems and jewellery companies is to adapt to the changing needs of the current times and go digital.
