New channel to sell jewelry – Internet
- By Jeetendra

Every body is talking about internet and e-commerce as new channel to sell jewelry. Let’s find out is it really true? Or is it just bubble?

This is first article of the series which will give you in depth information about opportunity to sell on internet.

In this article we will try to understand internet penetration and statistics.

Introduction
India’s online population is 25 million and is predicted to explode to 100 million by end of 2007. The internet penetration represents all facets of society without any bias. Internet penetrations in Tier II cities have seen bigger growth than metros. Changing lifestyle and buying habits coupled with eagerness of consumers to know more about products has seen tremendous usage of internet. Internet is used by buyers to compare prices, gain more knowledge about company, products and customer feedbacks regarding service and product. Internet is used by small to medium brands to strengthen their brand equity, reach global consumers thorough interactive medium. Internet advantages are unlimited shelf space to display your products, without any restriction on time zone or working hours.

Demographics of Online jewelry buyers
Jewellery buying propensity is increased from 15% to 18% compared to last year. This highlights the dismissal of internet can’t be used to sell jewelry online. The 18 -35 age group is highest purchaser of jewelry online. The gender bias is diluted in the jewellery category as 30% of the buyers are females. Delhi is the highest purchaser of jewelry online compare to any other cities.

Satisfaction Index
18% of online shoppers are highly satisfied with their purchases.
62 % of online shoppers are satisfied with their purchases.
17% of online shoppers are neither satisfied nor dissatisfied.
There is great Opportunity to upsale to that 80% buyer base who is either satisfied or highly satisfied.

Why people are buying jewelry online –
1. Home delivery – convenience of buying from their respective houses or offices.
2. Time savings – traveling time, finding a parking space etc is saved.
3. Price & Product Comparison – easier to do comparison sitting at one place than moving around in the market to gather data.

Are you ready to integrate Internet in your Sales & Marketing Strategy?

Data source – IMAI/ IOAI e-commerce report