Indian jewellery to be now available on eBay

• Follow

Gem and Jewellery Export Promotion Council (GJEPC), the apex body of gem and jewellery trade in India, has forged a unique partnership with global e-commerce giant eBay to offer to its members an exclusive jewellery store on eBay.

This is probably the first time that an association struck a deal with an online platform.

Due to a near lockdown situation in most states, all jewellers are suffering a sharp decline of sales. With discretionary spending taking a severe beating due to the uncertainty and declining consumer confidence, people are trying to conserve for the rainy day and spend only on essentials and medical emergency.

To address this problem in the domestic market, GJEPC has come forward with the idea of tying up with a global e-commerce platform.

“As part of our endeavour to constantly deliver value to members, GJEPC has collaborated with eBay, to establish an exclusive and dedicated store for jewellery on eBay. This would be an opportunity for all jewellery manufacturers to list their products and showcase them to the already existing buyer base of eBay,” said Colin Shah, Chairman, GJEPC.

The platform of eBay has an active customer base of 183 billion across the globe. They would have an option to buy Indian jewellery, added Shah.

“We, at eBay in India, are convinced that Indian gem and jewellery sellers are well poised to scale their business and presence across the eBay marketplace globally. The partnership with GJEPC is a step forward in enabling them in this endeavour,” said Vidmay Naini, country manager, eBay India.

Advantages over the platform

GJEPC members will get multiple benefits such as promotions and marketing support, account management, seller protection, live product promotion with the customers, free subscription for 3 months etc.

“We on behalf of GJEPC, consider it as a step towards facilitating Gem & Jewellery Exports through E Commerce platform and drive the vision of “Digital India”. Demand for gems and jewellery is picking up in all major export markets, hence it is important to tap all important online opportunities. But the second wave make it almost impossible unless we have eBay onboard with us,” said Shah.

GJEPC will be organising interactive sessions with prospective sellers, webinar for diamond Jewellery seller, webinar for coloured gemstone sellers, gold jewellery, loose diamonds, diamond jewellery and fashion jewellery in the following weeks, added Shah.

They are also giving attractive discount on gold and diamond jewellery. The discount depends upon the amount of jewellery purchased and what offers retailers would come up with time to time, said Colin Shah.

Online Market

Indian online jewellery market is a nascent one. All leading jewellers in the country record just about 1-2% of their sales online. Retailers say Indians don’t have the habit of buying gold online since there is risk involved.

Moreover, Indians like to try and feel the ornaments before making the purchase decision.

“Hardly 1% of our total sales comes from online medium. That market is still very small. But as a responsible business house, we are present in those platforms, but there is not ,uch prospect in the near or medium term future,” said Subhra Chandra of PC Chandra Jewellers.

The sale of gold ornaments through online did not witness any notable growth over the past decade, concurred all prominent jewellers.

However, according to Ravindra Kumar of Kundan Jewellers, Meerut Bullion Market, the business is gradually growing.

The pandemic has opened up these new avenues and sale of gold jewellery have started through Instagram, Facebook too.

Changing the trend

“We are using video calling, online booking, and booking on WhatsApp to supplement physical sales. But business is growing marginally despite our best efforts. Online sales are contributing 1%-2% of total sales. However, digital tools like video calling and WhatApp call are helping physical sales also,” said Suvankar Sen from Senco Gold.

“Mainly people in the age group of late 20s, 30s or early 40s are opting to come online to buy light ornaments. Heavy jewellery generally is not sold over this platform,” said Subir Sen from BC Sen Jewellers, though he supports GJEPC move with eBay whole-heartedly.

Chandra and both the Sen’s are the member of GJEPC.

“Online business is not an easy game at all. Only light jewellery can be sold online. There are just a very few customers are there who are buying gold ornaments through online mode, because, it is a business of trust,” remarked Subhra Chandra of PC Chandra Jewellers.