How To Start An Online Jewelry Business In India?
Jewellery is making a remarkable entry into the digital world. The online Jewellery market is estimated at $850 Million in 2019 and is projected to grow to $3.7 Billion by 2025, at a CAGR of 28%.
Jewellery is a multi-billion dollar business in India. It is a necessary accessory for weddings and other special occasions and a significant investment for many women. Despite this, most jewellery sales in India are still made through brick-and-mortar stores. Online jewellery businesses have an excellent opportunity to tap into this market by providing a convenient, affordable & safe shopping experience.
Crucial Steps to start an online jewellery business in India
1) Research ecommerce websites that sell jewellery
Here are some factors that you need to know for selling online jewellery:
- What are the trending products on display on the home page of ecommerce websites?
- What are the top 10 hot selling jewellery products listed on the menu?
- What are the top jewellery categories on display indicating in-demand products?
- How is customer service from order placement to delivery?
- What are the terms and conditions for selling online jewellery?
- How are the customer reviews about the concerned jewellery brand?
2) Pick up a domain name for your online jewellery business
Here are some great tips for picking a domain name for an online jewellery business:
- Select a domain that reflects your jewellery business, and it has to be unique.
- Focus on the shorter, snappier, and more exact domain name, which helps keep your domain memorable and boost brand recognition.
Dhora, Zariin, Caratlane, BlueStone are great examples of memorable domain names in online jewellery business.
3) Identify the essential elements for starting your online jewellery store
You need to ensure that the online jewellery store has these essentials for starting online business.
Inventory Software: A trusted Jewellery inventory software to assort and label each piece of jewellery
Clutter-free design: You need to ensure that the website is great-looking, user-friendly, and has a clean design with a simple but elegant look.
Excellent product descriptions: When writing product descriptions, you need to ensure they are easy to understand and enticing. Most importantly, they should contain enough information about the jewellery pieces.
HD quality images: Every product of an online jewellery store should have HD quality images with a white background so that customers can check minute jewellery details, colour, size & style from every angle.
About Us Page: Sharing your brand’s story on an About Us page can help you establish a connection with the customer and build trust.
Terms and Conditions: Make sure that all your Shipping, Returns, Billing, Insurance, and Exchange Terms and Conditions are visible and easy to understand.
Flexible payment options: Offering multiple and secure payment options is a great way to assure your customers that their info and credit card details are in safe hands.
Efficient customer service: When it comes to providing efficient customer service, the following can assist you:
- Provide multiple communication channels with your customers (email, phone, and live chat) and ensure that all of these channels are active and displayed on your website.
- Check-in with your customers to ensure they received the product in good condition.
- Finally, communicate with your customers via email about new products, special offers, and product reviews.
4) Find where to sell out jewellery online
There are multiple channels to sell jewellery online. It may happen that a new jewellery store could not attract much traffic on search engines due to meagre organic traffic. In that case, jewellery can be sold on
- Third party eCommerce websites
- Social media handles like Instagram, Facebook
- Online marketplaces like Amazon, Flipkart, Myntra. Etsy, eBay, Sears
5) What kind of jewellery to sell online?
These are the most popular jewellery styles demanded by 3,700 women that can be sold online:
- 87% of women wear earrings
- 64% of women wear a necklace or pendant
- 53% of women wear fashion rings
- 47% of women wear bracelets
6) Figure out logistics and fulfillment
Logistics is highly critical in the jewellery industry as the purchase is purely emotional. It means that once I have decided to purchase a piece of jewellery, I want it immediately. It also means that the sooner our potential buyer receives the jewellery, the more likely they will buy it.
That's why logistics has a significant impact on the success of online jewellery business. By selecting the right logistics partner, jewellery businesses can get up to 100% sales without changing the product and technology.
Jewellery being an ultra-premium product, its fulfilment services should be planned so that customers can receive the orders from nearby fulfilment centres, which can send the jewellery to the client in 24 hours delivery or next-day delivery safely & securely.
It saves a lot of human resources when you have 1000s of orders to fulfill as you would need a team of at least five people to deal with it.Automating the logistics and fulfillment process can help save time, costs and avoid manual mistakes.
7) Handle returns
Clear return policies are critical to your business as they enhance the trustworthiness of your online jewellery business. The potential buyer, who cannot touch the ring or necklace but must determine whether to purchase it, wants to be sure that he will return the item if the purchase does not work out. If you are confident in the quality of your products, just raising the return time (from 30 to 60 days) will significantly improve your online store's performance.
8) Use a SAAS platform to quickly launch an online jewellery store
Even if you are not an expert in creating a website, it can be done through Fynd Platform quickly without worrying about the hassles & complexities of building a technical website.
Fynd Platform has helpful features specially curated for building an online jewellery business:
Custom domain: Connect your custom domain to your website
Fynd Payment gateway: For accepting safe online payments from multiple payment modes
Selling locations: The number of selling locations you can plug in inventory for.
SSL certificate: It helps build trust for your online clothing store and is inbuilt in Fynd Platform websites.
Email & SMS Marketing: Get email and SMS marketing for driving marketing campaigns and reaching the target audience.
Logistic Support: Get 24 hours logistic support from Fynd Platform
Coupon & discounts: You can create custom coupons & discounts for targeting new & existing customers which will also help grow their loyalty
SEO friendly: Fynd Platform provides SEO friendly online store for growing organic traffic from search engines and social media platforms
Blogging support: You can create, write & manage blogs on online business websites created with Fynd Platform
Fynd Platform has helped numerous jewellery brands build a market-ready online jewellery store. Start free trial today! Build your online jewellery business with Fynd Platform. Subscription packages start as low as INR 599 per month to INR 2499 per month.
We hope you enjoyed our blog on starting an online jewellery business in India. We know it can be tricky to start, but you can be well on your way to success with the proper research, planning, and execution. Good luck, and we hope to hear from you soon!
Fynd Platform can help build sales-ready online jewellery stores in just 30 minutes. You can create brand websites, mobile apps (iOS/Android) with integrated payment gateway, automated Order Management System (OMS) and much more. Famous jewellery brands like Parishri & Dagaa have built their online jewellery business using Fynd Platform. Book a Demo or Contact us immediately to know how to launch & grow your online jewellery business in India.
