The dilemma of buying fine jewellery online Has the digital space revolutionised the traditional way of buying fine jewellery? BY ARUSHI SAKHUJA Precious stones and metals have always been status symbols. Over time, styles and trends have changed but the value of fine jewellery has increased. The emergence of e-retail has proved to be a game changer for traditional retail stores. Online shopping is now an everyday norm and is used by approximately 1.66 billion people. According to Bain & Company’s global luxury study, luxury goods alone accounted for US$1.2 trillion of sales, with shoes, bags and jewellery listed as areas with the fastest growth. News that both Net-a-Porter and Farfetch have launched dedicated fine-jewellery sections means a major shift in buying behaviour of fine jewellery is expected in the future. This means that customers can browse for luxury jewellery brands as easily as a pair of shoes or new handbags and with a few clicks, these precious pieces can be purchased. While the apparel retail industry has made a shift to e-commerce platforms, individuals still contemplate purchasing fine jewellery online. In the recent times, some jewellers have made the move to online platforms as part of their business expansion. Prerna Rajpal Founder of Amaris Jewels told Luxebook, “I believe that using an e-commerce platform is an excellent opportunity for any emerging brand. It not only enables the brand to expand its reach to different regions but also provides valuable feedback on customer preferences. By leveraging this feedback, the brand can adjust its offerings in response to market dynamics.” However, a considerable section of the general population is still not open to normalising buying jewellery online. But what is the root cause of the issue? Is it the apprehension of quality or is it simply too expensive to purchase online? To come in a box - Fine jewellery denotes items made from metals such as gold, silver and platinum, and precious or semi-precious stones. Made in limited quantities, these often sell with a hefty price tag. The challenge of buying fine jewellery online As a category, fine jewellery is the opposite of fast fashion. Being considered an emotional purchase tied to a loved one or significant milestone, we hold it close with the intention of wearing it forever. It has however lagged behind other fashion retail categories in the digital space. According to reports, currently, the purchase of PP Jewellers EVERYDAY TREASURES 30|LUXEBOOK|MARCH 2023 MARCH 2023 |LUXEBOOK|31
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