While e-commerce and e-tailers have so much penetration and control on the fashion industry there has been a huge gap which they are unable to map the jewelry industry. This category is in itself a big industry and yet to hit the e-commerce portals in view of many reasons. The reasons are still being analyzed by many data mining applications. One of the key facts is the look and feel of product. In the 21st century we are still seeking to have a clear look and feel of the product.
While this industry is not so complicated yet there is more competition. The international investors lure the local customers to buy this metal and stock either for future investment or in the form of savings. The consumers are very highly confused by commercials appearing online and through broadcasting about the making and wastage charges leaving behind the customers puzzled and leaving them to resort to word of mouth referred shops. The traditional brick and mortar approach has been very successful in this industry while the online and other means of trade has not been successful. These online vendors with the social media and other optimization tools are trying their level best to push the gems and jewelry industry which is time consuming. Apart from this the global price index also plays a vital role for selling and purchase of products. The markets are purely driven by demand and supply which also impacts the cost during festive seasons.
Technology is advocating consumers to find simple, faster, reliable & cheaper methods to purchase with the help of internet. These solutions which are integrated with enterprise wide applications help in cost reduction as well as better optimization of product showcasing. There are many options available for these Gems & Jewelry Industry Solutions. Many cater to SME and few addresses the enterprise wide. Although these applications have been able to only reach a few sector, there is a huge potential market and yet to be tapped by these solutions. There has been emphasis by international and national authorities to standardize these applications to have transparency on cost and taxes which is not yet fully absorbed by the industry.
Usually the raw materials (gem stones, metals) are either sourced internationally or domestically. After the sourcing it undergoes many scientific processes for purification and also certification as per this purity. The international certification bodies have assigned their local representatives to issue holograms like BIS Hallmark. Usually the purity of the metal and manufacturer name is embossed in the final product to confirm standards. The local stores also publish various attractive offers and scheme to attract various types of consumers. The human foot prints to the physical Jewelry Store have been one of the major criteria to evaluate the performance of store both in percent of sales and customer satisfaction. The customers also get into agreement with these stores for Systematic Investments every month to ensure growth of their wealth. The gems & jewelry is usually purchase as finished product and never a raw product. Many a times due to global market slide that prices drop very low and causing the traders to lose their cost price.
The government is also taking many steps to reduce these duties and taxes imposed on these metals and stones to make more affordable. Many manufacturers are now reaching to technology services to develop customizable gems and jewelry by the end user and deliver dedicated consignments. Many luxury brands are sorting to Jewelry Website Design Services offered by specialized organizations to improve their product visibility and improve the stickiness of the customers. The global markets are yet to react to these small alignments which are being done. On the whole it's a win – win situation for both customers and vendors with these solutions in place.