Jewellery sells, but what types sell online?

All that glitters, sells.

An average of two million people around the globe buys jewellery every day online. Staggering isn’t it? Then again, nothing has captured the fancy of buyers like shiny pieces of metal and rocks. While most of the e-commerce discourse centers around electronics and apparels, jewellery has slowly but steadily emerged as a profitable venture. If done the right way, that is.

Online jewellery market is said to be a billion dollar industry. In the nascent ecommerce world of India, it is a rapidly growing segment as well.  Jewellery appeals to consumers across divides of gender, age , economic status and cultures, ensuring that you, the seller, would never have a dearth of buyers. Right from the costliest pieces to the cheapest every day wear, there is a buyer out there waiting to spike up your sales.

A diverse range of products sell online- necklaces, rings, bracelets, anklets, toe rings, ear rings. Gold, diamonds, platinum, gemstones, beads, even crochet are favored materials. Be it occasions like weddings or for gifting purposes, or even every day office wear- jewellery finds a prized place in the minds of the buyer.

Be in with the trends

To be able to sell jewellery successfully online, one needs to have ears to the ground, cued in to the latest trends and preferences. It is vital for the seller to add to the product range regularly, keeping up with the latest in fashion trends. Fashion jewellery in particular, as opposed to traditional jewellery market, is constantly changing and it is important to keep up with the latest.

A typical buyer looks out for the latest- in terms of design or combinations of metal and stones- offering them are vital to be in the business.

To get started, these three things could really get the buzz going in your favor:

• Fashion cocktail rings- oversized pieces of extravagant bling are what every lovely manicured hand adorns these days. Not too much thought goes into buying one as long as it is in fashion and shiny.

• Fair trade jewellery- ethical, environment friendly and in favor of the sons of the soil- a dash of morality to the bling and voila, buyers will line up.

• Men’s jewellery- a new and growing segment, jewellery  such as rings, cuff bracelets, and necklaces are popular among men these days. Cashing in on this trend is a sure way to make that first breakthrough into online jewellery sales.

Where do you sell?

The Indian buyer is slowly warming up to the idea of buying things without the actual touch and buy process prior to a purchase. The same extends to jewellery as well, albeit to a small extent. Things are heating up though- jewellery products saw a rise in online visits this year with a total of 3.76 million visits on online stores as compared to last year, according to a report by the Internet and Mobile Association of India (IAMAI).  A major chunk of online sales comprises of imitation jewellery. With a market size of Rs. 8000 crore, out of which online retail contributes 2% (approx Rs 150-180 crore).

Real jewellery too is not far behind, with those carved out of gold and platinum silver gradually making their mark. Offers like 30 days no questions return and try on at home prior to sale are making buyers look at online purchases in a more favourable light.

JewelsKart, Bluestone, Carat Lane etc are the leading market places that are consistently pushing away buyer concerns with respect to costly purchases online. Services like pre sales conversations, email queries answering and phone calls to assuage doubts over carats, purity and reliability by these marketplaces help you find users willing to shell out upwards of 50,000 online.

The key though is to understand that it is, for obvious reasons, easier to push pieces in the range of Rs. 900-2000. This is a safe zone where the buyer is willing to experiment and give you the chance to win his or her trust.

This is also the right price range that insulates you from fluctuating gold prices in the bullion market. Big ticket purchases in the shiny metal segment are always dictated by market prices, it is the small price ranges that have become fluctuation free owing to increasing disposable incomes these days.

The Way Ahead

While nascent in its present form, online jewellery market in India is growing and growing fast. As consumers learn to trust online market places more each passing month, it is but a matter of time before most of gold buying in the country gets online. It bodes well for you therefore to jump on the bandwagon right now.

Imitation jewellery (1 percent of the market currently) rules tier 2 and 3 markets, while the real deal is big in the tier 1 cities. Right pricing, good inventory with the latest fashion trends in place and a good presales process will ensure that you make money while the gold shines.