India's Small Jewelers Embrace Online Sales

By John Jeffay / December 28, 2020 / www.idexonline.com / Article Link

(IDEX Online) - Small jewelry businesses in India say online sales have more than quadrupled since the pandemic struck.The balance has tipped in favor of e-commerce, with digital revenue now exceeding bricks and mortar sales for some enterprises, according to research by the Mumbai-based Crisil ratings agency.The swing is most marked at the lower end of the market, among non-precious, stone-studded, imitation, and luxury fashion jewelry, where online sales have rocketed from13 per cent to 55 per cent.Gems and jewelry, together with textiles, showed the biggest moves to online from a wide range of sectors surveyed.Six out of 10 of the 566 businesses surveyed last month said digital selling had helped them weather pandemic-induced stress.

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