CHALLENGES SELLING PRECIOUS METAL JEWELLERY ONLINE
THE CONSUMER NEEDS - WHAT BUYERS ARE LOOKING FROM ONLINE PLATFORMS ?
OUR SOLUTION - HOW OUR PRODUCT WILL SOVE THESE PROBLEMS
LETS FIRST UNDERSTAND THE INDIAN JEWELLERY MARKET AND JEWELLERY ECOMMERCE IN INDIA
BUSINESS PLAN TO ACHIEVE THE GOALS
RISK ASSESSMENT AND STRATEGIES TO PREVENT, MINIMIZE THE RISKS
SEE, WEAR AND EXPERIENCE
Unlike jewellery market most other industry expose there products online to attract new customers, as jewellery designs are IP of a retail shops which can be subjected to duplicacy, retail jewellery shop owners restrict from exposing there designs to online world. Hence there is no single platform where BUYERS can browse products online from different stores, brands that too 24*7 and than take buying decisions
Potential buyers have to physically visit stores, spend time instore selecting designs, spend money traveling to various shops. As most buyers have busy schedules they can at max visit 4-5 local stores inperson to buy the jewellery where they see very limited designs compared to total designs available in that local market
A PLATFORM WHERE THEY CAN BROWSE JEWELLERY FROM LOCAL SHOP 24*7 BEFORE TAKING BUYING DECISIONS
SOLUTION TO THE PROBLEMS
PROBLEM 1 CHALLENGES SELLING JEWELLERY
2) NRI buy jewelry for investment PURPOSE rather CONSIDERING AS accessorIES.
3) NRI buys 365 a day from online platforms, where as sales in India is mostly occasional.
4) WHY TANISHQ AND MALABAR GOLD EXPERIENCE high GROWTH: NRIs DO contributes to 15-22% of total sales for brands like Titan(Tanishq) and Malabar gold, both these brands MARKET PRODUCTS HEAVILY ON VARIOUS ONLINE PLATFORMS
this will inturns increases there sales