Impact On Online Jewellery Shopping Post Covid
Jewellery shopping isn’t like any other buy, it’s coupled with emotion and sentiment. In India, buying new jewellery on auspicious occasions like weddings, birthdays, house warming ceremonies, rice ceremonies, etc. is not something unheard of. Indian consumers don’t buy gold bars or coins for investment. Rather, they prefer buying jewellery.
Gold, as a commodity, has an ever-increasing value. Any changes in the world have a direct impact on the price of gold i.e. it increases.
To give you a quick idea of the impact of any calamity on the gold rate, let’s compare the gold rate in 2019 and 2021. The gold rate in 2019 was Rs.35,220.00 whereas in 2021 it’s at Rs.50,620. There’s been a 43% increase!
Investors have turned to gold to reach their targets. Gold is known to show a store of value and tends to perform better during the risk-off period.
Diamond jewellery is shopped in 18K gold whereas gold jewellery is shopped in 22K for daily wear.
Before the pandemic, online jewellery shopping contributed a very small percentage of jewellery shopping. Things have taken a sharp turn during this pandemic and customers have warmed up to the idea of online jewellery shopping.
Post covid, we’re expecting to see this trend continue. The ease of accessing 8000+ designs at your fingertips is not something customers would be willing to give up on. A significant percentage of our customers are from tier II cities, tier III cities or small towns. They were forced to look away from their local jewellers and turn online because of the pandemic. Getting access to such a huge database of designs post covid still sounds like a good idea to me.
Besides, we’ve been making tremendous efforts to bridge the gap between online and offline shopping. One such tool is Virtual Try On.
As the name suggests, Virtual Try On lets you try jewellery virtually (just like you would do at a retail shop) from the comfort of your homes. This page includes 2700+ jewellery designs that can be tried at home. Not being able to try out your jewellery before buying is one of the biggest hindrances to online jewellery shopping and we have successfully bridged the gap.
The younger generation was already comfortable with digital modes of payments, but because of the pandemic, even older generations have welcomed digital payments. Online shopping allows you to choose from a range of payment options i.e. UPI, NEFT, Netbanking, Credit Cards, Debit Cards, etc. The post covid shopping will see many online payments since it is more convenient and easier to manage.
We also have the functionality of getting your order delivered to the nearest Kalyan Jewellers store. Ever since we added this feature, more and more customers are taking delivery to the nearest Kalyan Jewellers store. We’re expecting these numbers to rise post covid. Store deliveries have been a means of developing trust in first-time buyers and we’re expecting to see this number spike post covid.
Previously, jewellery buyers had to adhere to the shop timings but not anymore. Online jewellery shopping is open and available round the clock. You can choose to shop for something at dawn or dusk. This coupled with 24*7 free jewellery consultation will also be a reason why customers will turn to online jewellery shopping post covid.
Featured Image Credits: The Times of Israel
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