Online jewellery market: a shining opportunity
Published on April 27, 2015 16:05:27 PM
In today’s fast-paced world, people are getting increasingly disinterested in venturing out of their homes for shopping, spending their valuable time.
Most of the gen next people opt for online shopping for most of their necessities. Online grocery, apparel and books businesses have already made a significant mark, and another emerging area in the online shopping zone is the jewellery business.
The online jewellery business appears to be so very promising that even famous business giants are coming forward to invest in it, one of them being Ratan Tata, who made investments in the Bangalore-based BlueStone.
The domestic online jewellery market is expected to witness an average annual growth of 60-70 per cent, in the future from the present $200 million.
India’s e-commerce sector in jewellery majorly comprises four types of players: the established jewellers who have took to online sales, players who act as platforms for jewellers, players who source from dedicated vendors or are involved in small scale manufacturing and sell online, and those players who offer various good online of which one is jewellery.
Some of the leading online jewellers are voylla.com, Caratlane, Velvetcase and Blustone, which succeeded in attracting Tata. This is just the start of a huge market, which surely appears to be here to stay.