Ecommerce giant, Amazon has witnessed a 4x increase in the precious jewellery category since it was introduced in 2014. The precious jewellery sales this festive season was up by 5x in terms of revenue compared to last Diwali and also it saw a 6x operational growth recorded.
An amazing 20% of Amazon’s precious jewellery category is made up from 22-karat gold items. It is the fastest growing sub-category in its jewellery segment and the online marketplace is currently stocking 3,800 styles of the precious yellow metal. 24-karat gold is also in high demand and Amazon feels that there is plenty of scope to grow the market.
“Most of the sales occurred for gold coins and 22- karat hallmarked gold jewellery. We have witnessed over 280% increase in 22-karat gold sales in October over the previous month. Our aim is to offer a wide selection of precious jewellery to cater to our customers’ varying tastes and style preferences,” said Mayank Shivam, category leader, Amazon Fashion in India.
During the Great Indian Festive Sale, Amazon gave away gold coins as daily prizes to encourage consumers to use its app, which seemed to do the trick. Now the ecommerce giant has seen a 250% increase in the sale of gold coins in October against the previous month, with Lakshmi motifs being the biggest seller.
Amazon recently announced the launch of its offline project, Udanta to compliment the online business. This development would certainly boost its precious jewellery category as a large percentage of Indian consumers still prefer to try before they buy, especially when it comes to gold.
Editor team is specialized in introducing the marketplace content targeting the Indian online sellers. They plan and coordinate to bring the appealing content for the small businesses on how to partner with the e-commerce sites like Amazon and Flipkart and strategies for improving their online business.
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