Hyderabad: The technology is growing. New wave of technologies are invading. So also the aspirations too are going up. But, Jewellery industry, barring few majors, has not embraced technology as much as it would have been, on par with their peers in other industries. On online shopping front too jewellery industry has not made any significant progress.
Keeping this in mind, Hyderabad’s 135years old, one of the oldest jewellery businesses “Sr Kimtee Jewellers” introduces futuristic product “Try-Before-You-Buy, JewelleryCart. In, an App”. According to its promoter, Mr. Deepak Kimtee, it is probably a first of its kind of a product in the Jewellery domain in the world.
Built on Android and made available on Googleplay, this enables customers to try jewellery, wear it, consult relatives, compare prices, designs from many other outlets and go to the shop of your choice, go and buy it.
Imagine trying as many jewellery products as possible before you make a purchase. Is it possible on visiting physical store or shopping online?. So we are combining both—online and offline in our our App JewelleryCart.in, says Deepak.
Shopping online is a fun, but when your order arrives it is not what you wanted. Jewellery is such a product which cant be bought online and there is no such facility available(barring few small itmes) currently.
Try Before You Buy Concept is being worked out in some different categories across the globe. But not in jewellery. Try-before-you-buy services are taking the online retail industry by storm in other categories, other than jewellery and catering to everyone from busy moms to professionals to children and tweens. We are extending this concept to jewellery industry for the first time in the world. It is going to be the major trend in the year 2019, announced Deepak.
We have worked on this platform for the past three years. We wonder when everything is online, why not jewellery? that is how we developed this platform adds Deepak.
In the jewellery and the luxury space, the look and feel is a very important aspect. In jewellery purchase customers research online first and go and buy it offline.
JewelleryCart.in, a platform which is an APP showcases jewellery products, approximately 5000 from 2000 plus small and medium jewellery retails and manufacturers. The customers on the APP can view various jewellery products, try-on them before they actually go to shop and buy.
The platform provides 25000 solitair designs and 3000 other jewellery products which include Necklaces, Bangles, Chains, Ear Tops etc.
JewelleryCart.in converges brings retails, manufacturers and customers on single platform.
This is a new experiment and offers lot of benefits. You can have both online and offline experience. Manufacturers, Retailers and Wholesalers will showcase their products online like an exhibition. Buyers can search, try-on, wear, even share with distant family members, take feedback and make a final decision. Once it is selected, they can visit the store and physically procure the product. This will save time, effort and money for customers.
The APP will also be used by Retailers to buy from manufacturers and sell directly to customers.
The platfrom has already roped in 900 jewellers, who pay annual subscription of Rs 50,000/-. These are mainly from Hyderabad. Some of these include Gokuls Jews & Jewellers; Vaibhav Gems-Mumbai; S.K. Jewellers; Sampath Jewllers; Suraj Bhan Babulal & Co; Dhariwal Jewellers-Chattisgarh and many other
We would like to national in a phased manner. Mumbai, Chennai, Bangalore, Delhi on our radar for expansion. Currently we have 8900 subscribers.
In next three year we will rope in 3000 jewellers into our platform. That is when we aim to generate Rs 15crore in subscription.
Hyderabad is one of the key markets for jewellery business. It boasts of 2000 jewellers which includes 300 to 400 big players. There about 800 are medium players and rest are very small ones. The Hyderabad city alone consumes 120 tonnes of gold per annum, which amounts to 15,000- crores
Before the launch, KIMTEE has done some internal survey to understand customers preferences. It was found that “try-before-you-buy” is something new to the jewellery industry. If this is offered, customers are more willing to try.
JewelleryCart.in APP is a win-win for both customers and retailers. For customers, Try-before-you-buy will be a positive trend, removing another barrier to purchase. For retailers it will help them boost their sales informs Deepak.
This is the concept helps jewelers to remain competitive, he added.
India can boast of a legacy of 5,000 years. For 2000 years, India has been the sole supplier of gemstones to the world. Hyderabad is the land of Golconda diamonds, sapphires from Kashmir and pearls from the Gulf. It is the home to the world famous Kohinoor diamond.
India is home to nearly 5,00,000 small players. The market size is expected to reach US$ 100 billion by 2025. It contributes 29 per cent to the global jewellery consumption. India is the world’s second-biggest gold consumer, The gold consumption forecast for this year 800 tonnes.
Mr. Mohmood Ali, Home Minister of Telangana; Mr. Jayesh Ranjan, Principal Secretary, ITE & C, Govt of Telangana and Presidents of various Jewellery Associations—Mr. Kailashcharan Agarwal, Mr. Mahender Tayal, Mr. Boorugu Suryaprakash Rao, Mr. Jinenderraj Ranka and Mr. Mohan Munoth graced the event and launched the platform formally in a function held at Park Hyatt on 20th January