Page 23 - Bullion World Volume 02 Issue 12 December 2022

Bullion World | Volume 2 | Issue 12 | December 2022

Silver jewellery has 4% online 24x7 selling:
penetration. Some of the leading Personalization and customisation:
jewellers in this category include Tapping Niche markets:
Giva, Tribe Amrapali, Fourseven,
Shyle, The Amethyst Store Jewellery Ecommerce Potential
Online jewellery retail in India is
Low-price precious jewellery has growing at a CAGR (Compound
4% online penetration. Some of the annual growth rate) of 28% and
leading jewellers in this category would account for 4.2% of overall
include CaratLane, Candere by jewellery market in India by 2025
Kalyan Jewellers, BlueStone,
Melorra, Mia by Tanishq. Offline-first A comparison of online jewellery
precious jewellery retailers have also retail penetration in the US market
started introducing light weight low- shows potential for >10% online
jewellery penetration in India in the
price precious jewellery specifically
for promoting online. future

Mr Deepak Tulsian High value precious jewellery
Channel-wise opportunity
business would continue to be
Online marketplaces have high
Segment-wise opportunity opportunities for imitation or fashion mostly offline
.........................................................
The low online penetration in the jewellery, and gold and silver Conclusion
Indian jewellery market can be coins. This is because of the low- The increase in internet penetration,
explained by the dominance of price nature of imitation or fashion smartphone penetration, internet
the high-price precious jewellery jewelery, and the low touch and feel speed, and logistics coverage in
segment, which accounts for 60% of requirements for gold and silver India would continue to accelerate
the overall jewellery market in India. coins. online jewellery sales in India

High-price precious jewellery has Brand websites have high Advancement in technology such
negligible online penetration mainly opportunities for silver jewellery and as virtual try-on, voice search, video
because of the serious purchase low-price precious jewellery. It allows shopping is adding impetus to online
nature of this type of jewellery, where brands and jewellery retailers to jewellery retail by offering store-like
customers prefer to touch and feel offer customized and personalized experience to customers from the
the product before buying. The services to their online customers. comfort of their homes.
majority of the offline-first precious
jewellery retailers would fall in this Online-influenced offline retail has This is leading to blurring of the line
category. high opportunities for low price between online and offline retail.
Hence, measuring pure online retail
precious jewellery. For example,
Imitation or fashion jewellery has the CaratLane derives 80% of overall sales would not be an appropriate
highest online penetration at 8%. sales from online-influenced sales. measure of the true impact on
ecommerce. Online sales along with
Some of the leading jewellers in this online-influenced offline retail sales
category include Kushal’s, Priyaasi, Other opportunities is already close to 10% for overall
Sukkhi, Estele, and Rubans. Global selling: Opportunity to create jewellery retail in India.
global online jewellery brands of
Gold and silver coins have 6% Indian origin Although it is essential for every
online penetration. Some of the jeweller to go online to increase
leading jewellers in this category Endless design showcase: Example: visibility and relevance among its
include Bangalore Refinery, MMTC- CaratLane showcases 7000 designs target customers, an omnichannel
PAMP, Joyalukkas, Malabar Gold & online against around 1000 designs model would bring higher conversion
Diamonds, and ACPL in store and faster profitability.

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