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Jewelry market in India always be a major contributor of the country economy, reason is the craze of jewelry never goes down in Indian women's mind. So in marketing terms we can say demand and supply is always proportionally never goes down. Jewelry as a gift in marriage or donating in temples is always a status symbol in Indian society. In last couple of decades imitation and artificial jewelry market has also grown a lot because of regularly increasing cost of gold and diamond.
In last one decade e-business or e-retail has taken up the the market, reason is quite simple, it is giving more transparent shopping options to the customer. Online buyers are getting more brands options with more variety and trend, competitive pricing, more discounts on festive seasons, comfort to buy anytime and anywhere and most important to be hassle free of Indian traffic and parking problem, because everything can be delivered at your door step which saves their time and energy.
As now start ups and ecom ventures are really hot cakes in India. Lots of brands or home manufacturers are coming to online platform to showcase and sell their products, which is giving more variety to the buyers. Because of online culture imitation jewelry market is getting boost, it is increasing buyers and seller both, resulting availability of rare jewelry products easily on just one click.
In precious jewelry cost is high and the profit margins is also limited to the retailers but in imitation jewelry costing is low so sale is high and profit percentage is also high. It exceeds from 25% to 100% profit margins on imitation jewelry. Some facts and figures says the market of imitation jewelry market is almost doubled in India in last few years. So the growth of imitation jewelry market resulting in the growth jewelry e-retail market.
adminOct 12 2016