HOW WILL JEWELLERY BUSINESS CHANGE IN POST-COVID ERA

HOW WILL JEWELLERY BUSINESS CHANGE IN POST-COVID ERA

Business / Tips

HOW WILL JEWELLERY BUSINESS CHANGE IN POST-COVID ERA

The last one year has changed the face of business models. We were suddenly forced to switch the social gathering to the social media gathering. From bricks and mortar (offline physical store) to online app-based stores, and so on. Jewellery business in covid era is a question to all.

Even after one year of the pandemic, when things seemed to get normal again, the situation worsened. With the rising cases of Covid-19, India has observed the highest number of positive cases in its lifetime. Different cities are approaching night curfew or complete lockdown, and nobody can answer how long it might take.

Businesses across the sectors got affected for over a year now. Many companies had no option but to close down. In this scenario, the least mentioned but most affected industry was our Jewellery Industry.

Unlike other businesses, the jewellery business doesn’t fall under the government’s MSME sector. So, even in the covid situation, the jewellers did not get the benefits to survive. With many restrictions in areas and stores, the post covid era will be very challenging for the jewellers if they don’t take any prior action.

Let’s discuss where the jewellers stand in the Covid scenario and how jewellery business can run smooth in the post covid:

jewellery

Jewellery Manufacturers:

Current scenario:

Usually, manufacturers work with hundreds of karigars in their factory, but due to covid, either they are not allowed to work full-fledged or their karigars have moved to their home town. Also, they are not able to travel to reach out to their clients in different cities.

Challenges:

Late delivery of orders, communication gap, lack of selling to distributors and retailers.

Jewellery Wholesalers:

Current scenario:

Wholesalers are facing a massive challenge due to the travel ban and partial lockdown. They have an enormous stock of products, but their client retailers might be in other cities. Due to the traveling obstacles and health concerns, they are not able to travel at all. They cannot deal with low quality WhatsApp images and phone calls as these are not enough for high-value jewellery products. Also, they have multiple stores in different cities, which is being difficult to maintain.

Challenges:

Partial break in business process, almost no foot fall in stores, no profit and sales for a long time, high cost for employees.

Jewellery Retailers:

Current scenario:

No footfall at physical stores across the cities. Multiple store executives are there in each store. It is difficult to maintain the cost, lack of demand even at the peak wedding season as people are afraid to visit stores. But online sales have boosted due to the contactless process.

Challenges:

Zero profit, zero foot fall, high on cost occurrence.

What can be the possible solution jewellers opt for the post covid era business rejuvenation?

There are multiple ways to keep the jewellery business running strong in the post covid era.

HOW WILL JEWELLERY BUSINESS CHANGE IN POST-COVID ERA

Branded app

Benefits:

  1. Your own app carries your own identity
  2. Works like your virtual store
  3. Loyal customer base
  4. Your customers have your app on their phone every day
  5. They can purchase at their comfort
  6. Highest chances of conversion
  7. Increases brand value
  8. Physical distance vanishes with each app installs
  9. Less competition as you have your own market place
  10. No need to travel, sell remotely
  11. Unlimited product catalogue
  12. High-quality photo and video

Side effects:

  1. Limited but loyal customers
  2. Needs internet connection (Not on JewelFlow offline app)

Website:

Benefits:

  1. Increases your online presence
  2. They Can upload products
  3. Can sell online and take payment
  4. They can include in your visiting card
  5. Can acquire new customers

Side effects:

  1. The domain name might not be available
  2. Needs technical knowledge and forever to maintain
  3. Issues in accepting payment
  4. People might land but not purchase your products
  5. Might get lost in the internet traffic

E-commerce websites:

Benefits:

  1. High reach
  2. Different payment options
  3. Multiple product catalogues
  4. Increase in sales volume

Side effects:

  1. Highest competition between thousands of sellers like you
  2. Monthly/yearly subscription even if you don’t sell
  3. Commission based changes on sales
  4. Low sales due to increased competition
  5. No 24×7 support
  6. No brand recognition or brand building
  7. Promotions are extremely costly

What can you expect from us?

Teamwork and cooperation

Where there is a problem, there we have a solution for that.

My team and I are working closely with the jewellers for more than 11 years now. We have observed many changes in the industry over the last decade and came up with many changes in our apps’ core with continuous improvements. Today, I can proudly tell you that we have a solution for you whether you are a jewellery manufacturer or wholesaler, or retailer. We will help you deal with your jewellery business in the post covid era.

Our core app JewelFlow lets you digitally catalogue your jewellery products on your own branded app!

Yes, you read it right; we build the jewellery app for you with your branding on it. It lets you sell remotely to practically anywhere in the world. Not only that, your product images can get stolen from your website or 3rd party e-commerce websites, but on your JewelFlow app, we have disabled the screenshot and screen recording option. Be a customer magnet or market leader or both of them with the JewelFlow app solution. It comes in two different versions. Your customers can use your online version, and you can carry the offline version on store visits or exhibitions in the future.

JewelMeet, another smart app that lets you schedule and connects with your customers with one tap HD video calls.

JewelGate, the visitor management system 2.0, assures you full-on store security from the entry to the exit.

And last but not least, KAM – The Customer order management software solves the biggest problem of custom orders, timely delivery, structured communication with your karigars and customers.

In conclusion of this discussion on jewellery business in post covid era,

We have discussed the current challenges the jewellers face and the alternative ways they can choose to keep the business rolling. We also have addressed the pros and cons of each platform. In the end, we have given you the best choice you can opt for your jewellery business. We are trusted by more than 300 jewellers globally, with more than 65,000 registered buyers on board (the biggest in the jewellery technology industry). We are our clients’ growth partner, and we are eagerly waiting to help you out of this pandemic situation cause your business shall never stop. If you are ready for your jewellery business in post covid, we are here with you.

CALL US