Indian jewellery market upsurges E-commerce way

Written by FE Online | New Delhi | Updated: May 18 2014, 18:05pm hrs
Jewellery is an evergreen commodity which never ceases to attract eyeballs with the dazzling looks and stupendous designs. For ages, traditionally and in todays modern world of the 21st century, its value has always been applauded, whether it is for investment purposes or for any special occasions. E-retailing is one of emerging ways to sell expensive as well as pocket-friendly jewellery. Today the e-retail business has emerged as one of the top market leader in e-commerce. Various types of jewellery have been brought in the limelight through these portals they have become a major source of market share chunk in the e-commerce industry.

A decade back, the thought of getting jewellery via online e-portals was completely inconceivable, however, with the emerging entrepreneurial idea of opening online shopping sites has changed the views of millions of people. Today, jewellery is sold by numerous e-retail sites with attractive pricings, various seasonal offers and at discounts too.

The craze for Jewellery cannot be taken from a women and when gold prices are going sky high, what can be done A very simple alternative to this problem has been developed in the shape of imitation jewellery which looks identical to gold. Skyrocketing gold prices, worsening law order situation, increasing incidents of snatching have affected the gold Jewellery business really bad. People are rapidly shifting to artificial Jewellery, as it is within their purchasing power. Although there has been a decreasing trend in the gold prices some months back but still its prices are above reach of people with average income. The precious metal experienced a huge fall in price until last month but it has started to rise once again.

The demand for imitation jewellery has surged by over 85 per cent in the last one year on account of sharp rise in gold and silver prices, a study by industry body Assocham has said. The imitation jewellery market, which is about Rs 8,000 crore in India presently, is expected to touch Rs 15,000 crore by 2015 owing to growing demand and popularity, Assocham said in the study.

A Jaipur based firm, Voylla.com has been working with earnest endeavours towards making jewellery available properly online, apart from this they have been able to garner interest among millions of customers due to the price and quality of jewellery, which is an important issue for any customer who plans to buy it. They deal in various types of jewellery for women, kids as well as men. Voylla.com deals in myriad products and accessories ranging from economical to elite categories like anklets, earrings, necklaces, necklace sets, pendants, pendant sets, rings bracelets, nose pins, chains, cufflinks, kadas and the list goes on.

As the demand of imitation jewellery is increasing, Voylla.com is adding more and more varieties of products in their exciting list and being a customer centric e-retail venture, the aim is to serve customers as per their requirements, so that this platform becomes a one-stop-shop destination for all fashion and lifestyle requirements.

The trend of artificial jewellery shoots up not just because it is inexpensive but is having a huge variety of designs and colors as well. The artificial jewellery currently available in the market looks even better than the yellow metal and has caused a real drop in the sales of the gold accessories.

Voylla has 200 designs to 8500 designs in fashion & imitation jewellery, making it the single largest jewellery store online and aims at expanding its collection to 10,000 in the near future. It trades in designer jewellery which has become famous around India for their unique and innovative designs.

One can finally leave all the fashion worries because Voylla.com aspires to be a personal fashion stylist and helps stay in style without having to spend hours in scorching sun looking for the perfect jewels and accessory to match attire.