“Indian Market Is grown By 81% In Silver Against Fine Diamond Jewellery”: Tanul Jain and Urvashi
In an exclusive conversation with the owners of Carat Pearl Tanul Jain and Urvashi the Creative Manager sheds light on the growth strategy of the brand.BY Shipra Srivastava | January 31, 2018 | comments ( 0 ) |
Tanul Jain and Urvashi
How do you see online jewellery market is growing in India? Also shed light on your journey so far?
Growth in global jewellery industry is fueled by the shifted to e-commerce. Accordingly, to the global research by bigshot Economist have expected of 5-6% growth in Indian market where Sterling Silver have expected by 15-17% growth in Global market by 2018 though India is capturing a big market of Designer Jewellery (Silver with Natural Gemstone), if we compare from the last 5 years’ data, Indian market has already grown by 81% in silver against fine diamond jewellery where gold diamond jewellery is almost on the same line in the graph of 5-6% every year growth.
CaratPearl designer silver jewelry come up with our E-commerce site along with the all Indian market place and International market place as well also we are collaborating with the brand collaboration with reputed designers, clothing brands etc. we have a studio in New Delhi though we prefer and believe to sell caratpearl through online channel because Our motto is to provide the best quality products and services to the customer and save up to 20-30% over the retail stores.
According to you, what are the challenges of online jewellery retailing?
Jewellery is luxury product which is high in prices so touch and feel factor comes in everybody’smind before purchase also customer gets hesitate to purchased online jewellery because of the trust factor of the brand that what ever product is shown on the site that is actually looks likes or some deviations is there, these are most challenging issues comes if we are talking about the jewellery ecommerce industry.
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? Do you think offline retail is compulsory before going online as far as jewellery category is concerned?
CaratPearl has gain the trust factor in online jewellery purchasing because of their services like money back guarantee, cash on delivery, free returns, free shipping, certificate of authenticity, quality, pricing as well as free shipping. Yes, it’s important to have an offline store to show live range of the products to customer who are comfortable to visit but its not compulsory to have your offline store. The concept of online purchasing is to save money & time and get extra ordinary services at your door step, Very soon Caratpearl coming up with Home-Trial services for their designer silver jewellery category which is not still in India yet also where customer can select the product through site and request for visit at their place accordingly to their time and date convenience.
What are the home delivery challenges since precious jewellery is delicate and expensive? Also how do you manage your returns, if any?
CaratPearl feel happy when they get back their product from customer after purchasing though its percentage is very very less still we believes in customer satisfaction because we think from customer’s point of view that why they don’t like the product so that we can implement their reviews and trying to serve best in future
How do you compete with leading brands such as Tanishq?
CaratPearl don’t believe in completing other brands, they are also good in their designs and quality, they also create trust factor in the market and CaratPearl continuously coming with astounding designs for the people because before we create design we keep in our mind what people are looking for.
How many pin codes do you cover? Also shed light on your warehouse and your logistics provider?
CaratPearl currently presence in India and almost cover more than 1600 pin codes across the country, Our Warehouse situated in New Delhi, Our Logistics Partner pick all the shipments from Delhi Warehouse only
What is your average selling price? Which are the bestselling jewellery brands on your website?
CaratPearl (a designer jewellery brand) has a wide range of jewellery in Silver, Gold & diamond, CaratPearl Average selling price between 3k to 15k
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