How Online Jewellery Market Can Be The Next ‘Big’ Thing?
In an exclusive conversation with Shailen Mehta, CEO & Founder, eJOHRI sheds light on growth strategy of the brand.BY Shipra Srivastava | January 29, 2018 | comments ( 0 ) |
How do you see online jewellery market is growing in India? Also shed light on your journey so far?
Growth in the global jewellerymarket is being fueled by the shift to e-commerce. However, in 2012, the sale of online jewellery industry in India was merely 7 crore and has been growing since then. By 2020, it is expected to reach 50,000 crores. Being associated with the jewellery industry for the past 10 years with our brand ‘Divine Solitaire’, we saw the need for an Omni channel marketplace wherein the jeweller could exhibit their best products and customers could get a chance to discover from a wide range of products across the best jewellers of the country with just a click.Thus, we decided to merge our expertise of the industry with technology while bringing everything under one roof and that made us come up with eJOHRI. This platform enables its consumer to experience the look and feel of the jewellery that they want to buy.
According to you, what are the challenges of online jewellery retailing?
Online jewellery retailing has several challenges like budgeting, expertise in E-Commerce,marketing etc. Additionally, building up the trust in the minds of both the jewellers and our consumers was equally essential. Apart from this, consumer preference and the look and feel factor while buying the jewellery piece with higher price is another challenge that online jewellery retailing is facing. Thus Omni channel marketplace is the best solution to these challenges.
How do you gain the trust of your consumers since you operate online and jewellery is a high ticket item product where touch and feel is a very important element?
Trust is a prominent factor of any business, being an Omni channel marketplace, eJOHRI caters to all consumer needs and various types of jewellery products under one roof. It also enables its customers to experience the look and feel of the jewellery that they want to buy while providing its patrons the online and offline connect building a relationship between the company and the customer. Comforting its clients, the company also has a 7 day no question asks return policy for all the customers residing in India.For all returns made by the customer in India within 7 days of purchase, eJOHRI will directly refund the entire amount to its patrons who have purchased jewellery through eJOHRI.
What are the home delivery challenges since precious jewellery is delicate and expensive? Also how do you manage your returns, if any?
For the delivery of these jewellery products, we have a different team who coordinates with our logistic partner who manages the VAL (valuable) cargo and guarantees timely and quick delivery of all the products ordered. Whereas for the return policy eJOHRI has a 7 day no question asks return policy for all the customers residing in India.For all returns made by the customer in India within 7 days of purchase, eJOHRI will directly refund the entire amount to its patrons who have purchased jewellery through eJOHRI.
How do you ensure brands which are present on your market place do not feel competition among themselves?Products on our website are displayed by the eJOHRI algorithm. So, every jeweller has a fair chance to showcase his brand and products on this platform. We are also planning to introduce promotion options to the jewellers to publicize their products on the site.
How many pin codes do you cover? Also shed light on your warehouse and your logistics provider?We deliver to 8000 plus pin codes in India which includes cities like Mumbai, Pune, Ahmedabad, Bilaspur, Kolkata, Hyderabad, Indore, Jabalpur, Jamnagar, Kanpur, Kolhapur and many more eliminating the rural areas. Other than that, we also deliver to 50 different countries in international market to NRIs. Regarding the delivery of these products, we have a separate team who coordinates with our logistics partners who manages the VAL (valuable) cargo and guarantees timely and quick delivery of all the products ordered.
What is your average selling price? Also shed light on your best collection?
eJOHRI is still in its initial stage, but being an Omni Channelmarketplace, we offer various products to our patrons. However, it is witnessed that light weight necklace, gold and diamond rings, earrings and gold chains have been sold the most. Apart from that, everyday wear jewelleryis generally liked by the modern age women, whereas wedding collection observes seasonal sales. The average selling price in India for online sales is between INR 10k to 20k, whereas for international orders the average selling price is above INR 50k.
At last, kindly highlight your growth plans?
Across India, we are the foremost marketplace for premium jewellers. Currently, we are associated with54 jewellers across 24 cities and have 13,000+ products listed on our website. We are aiming at having 200+ jewellers with more than 50,000+ listed products on eJOHRI down the lane in a year. While enjoying the benefit of our unique feature - online and offline connect, this would be the most desirable discovery website for the customers to select jewellery from a platform which offers wide range jewellery products.
24 Nov 2015, Hotel Pullman, Aerocity, New Delhi.
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