Sales sparkle at online jewel stores

Tuesday, 6 November 2012 - 3:52pm IST | Place: Bangalore | Agency: DNA
Rather than shopping at stores on streets, customers today prefer shopping online, as they can save both time and money.

Hardly a fortnight has passed after the grand closure of Dasara celebrations, and the city is once again abuzz with activity. With only a few days left for Diwali, stores are jam-packed, with people on the hunt for something new. And this does not mean just the shops on streets. Customers have become more net savvy and are purchasing products on the Internet. Online jewellery stores, in particular, are making good business this season.

“I wanted to gift a pair of pearl ear rings for my wife. Rather than spending hours, going from one shop to another, I decided that I would buy the piece online and I did. Not only did I find an exquisite pair of pearl studs, I also got a good deal for those. Had I bought those in a regular jewellery store, I would have shelled out 25% extra charges, plus my time,” says Shravan Kumar, a marketing executive.

Sale of jewellery online is gaining momentum. “The festive season sees a lot of planned buying specially in the category of jewelry, gold and silver coins and diamonds. We are planning to source special offers from the brands in these categories. The festive offers on Snapdeal started with weekly offers based on specific festivals in different regions and purchase patterns. It started with Ganesh Chaturthi and  Durga Puja, and will go on till Diwali,” says Sandeep Komaravelly, VP Marketing at Snapdeal.com.

Juvalia & You India recently launched its new festive collection and has experienced a growth of almost 30% this month. There is definitely foreseen growth in the sales with upcoming festive season. Chaitanya Aggarwal, Founder & CEO, Juvalia & You India, says, “The demand is for the diamond look and Indo-western jewellery designs. With the gold/silver prices going up, we expect a boom in sales, since we feel that many women going to parties/weddings will turn to more well priced jewellery to accessorise their festive wear. Women are increasingly looking to match fresh designs with their garments and this is where well designed fashion jewelry from Juvalia fills the gap.” Juvalia has also planned some special combos and e-discount coupons for the festive season.

Peyush Bansal, Founder & CEO, Valyoo Technologies says that the response has been tremendous already and the product reactions have been very encouraging. “We have been seeing more people buying. Sales in different categories, like jewellery, watches and gifting items for us, will of course whop during the festive months. We are expecting to do three times more than regular sales and touch `10 crore in November-December, after marginal growth (5%) in sales from July-September,” he adds.


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