Disruption and the online jewellery market in India
Having been at CaratLane since day minus 300, I have been at the forefront of the effort to get Indians to buy jewellery online. Eleven years on, we are still at it. Most of us in the space love to call it the last bastion of ecommerce.
At the same time, we, along with all the others ( there have been more than a 100 by the way ), have definitely managed to make more than a decent dent. I know of 60 year grandmothers in tier 2 towns who have not only bought jewellery online; they have influenced their younger and more internet savvy daughters and daughter-in- laws to do so as well.
In doing all of this, there is one major lesson I have learnt. There is no rocket science in this. But sometimes the simple things in life arent so obvious at first.
Buying jewellery is a deeply ingrained ritual in this country. I am not referring to the emotion of gifting and the meaning jewellery adds to special occasions. Just the act of browsing and buying it. For most women it’s a rite of passage. Even for most of the modern women in the metros. Even the ones who are independent and free spirited.
There are certain jewellery codes — in terms of the practises, customs and types of jewellery, which are part of the fabric of who we are. Buying from the family jeweller is one of those things. Taking your mother or mother in laws opinion is another such thing. The whole family getting together to buy your wedding jewellery is another one. It’s something which we celebrate and feel happy in doing.
Its unlike how we shop for most other things. This behaviour is almost rooted in our core values. Doing it this way is something we cherish and value. The disruption in the jewellery sector should not focus on changing this behaviour. It’s hardwired and hard to do. And unnecessary. Instead we should concentrate on making this behaviour seamless and more enjoyable. The disruption should come in the business models. Open stores. But ensure that your CRM data and technology enables every store to operate like the family jeweller for the neighbourhood.
