Everything that glitters may not be gold. But everything that glitters appeals to jewellery loving Indians. Be it heavy chunky jewellery (mainly for functions) or trendy lightweight jewellery, real gold and diamonds or cheaper imitation jewellery, jewellery in any form is a favourite of all the Indian women.
Not just for ornaments, gold jewellery is also seen as a valuable asset and investment with resale value and returns. An evergreen commodity, gold jewellery never ceases to be in fashion and the trends and designs keep changing over time.
With the rising popularity of Indian e-commerce and evergreen popularity of jewellery, real gold and imitation jewellery have found its way to online portals with a variety of jewellery being sold. Expensive as well as affordable pieces are available for sale for everyone who wants to buy a piece of jewellery. Various types of jewellery are today contributing to a major chunk of Indian e-commerce sales.
Until a while ago, selling jewellery through the online space was not considered viable. However, with increasing experimentation and budding entrepreneurial ideas, a number of jewellers have set up shop online too with attractive prices, seasonal offers and discounts.
Also, off late there is a shift in preference from traditional gold jewellery to realistic imitation jewellery, due to the rise of gold prices and increasing incidents of snatching gold jewellery even in public places. Add to this the fact that imitation jewellery are more affordable and can be purchased anytime, the demand for imitation jewellery has risen by more than 85% in the last one year.
The imitation jewellery market is expected to rise from Rs 8,000 crore to Rs 15,000 crore by 2015 due to the rising demand and popularity. A huge variety of designs and colours are also available which helps fashion conscious customers to match jewellery with their favourite dresses.
Due to the fickle gold rates which have risen exorbitantly lately, gold jewellery has decreased in demand. Light weight jewellery is favoured by youngsters today. But when cheaper imitation jewellery are available, they would opt for that rather than for real precious jewellery.
Jewellery is something that will never go out of demand. If you sell jewellery of any kind or want to enter the space, try to provide different designs and types of jewellery to stand out in the sea of retailers selling jewellery already. A certain segment of customers will even pay a premium for pieces of value and difference. The key is to provide unique and eye-catching designs.
After dwindling with her family business, into travel and hospitality, for more than 3 years, Pooja Vishant found her true love in writing. Happy-go-lucky and cheerful, she loves pink; so pink is the way to go if you want to get into her good books. The Associate Editor keeps track of even a leaf that has moved in the ecommerce world!