Numr Research recently conducted a survey about online jewellery websites (like CaratLane and Blue Stone) and offline jewellery stores (such as Tanishq, Kalyan Jewellers etc). Suffice to say, the survey revealed some interesting insights about the jewellery buying habits of affluent Indian urbanites. The Indian jewellery industry contributes to about 7% of the country’s GDF and is a mix of unorganised jewellers and brand retailers. Currently, the $135 million online jewellery sector accounts for less than 1% of the total fine jewellery segment. However, it is growing rapidly.
E-retail has massively transformed the market landscape for many sectors such electronics, clothing and food. However, the story for the jewellery sector is quite different. After all, physical stores undisputedly rule.
Out of the organised jewellery stores,
In the online space Caratlane has been killing it! With an over 82% NPS score, it is definitely a market leader. In the offline retails space, Tanishq holds the pole position at 62% NPS. The rest of the market is pretty crowded with an average NPS score of 54%.
-Amitayu Basu, CEO, Numr Research