In the wake of the Covid-19 lockdown, the gems and jewellery industry has lost a lot of potential business. The All India Gem & Jewellery Domestic Council went all out to correct the situation and introduced the ‘StayInTouch’ initiative.
With the help of this unique programme small enterprises and retail units can connect with their customers and showcase their inventory.
Getting business back to normal is at least six to 12 months away. And according to Anantha Padmanaban, Chairman, All India Gem & Jewellery Domestic Council, and Managing Director of NAC Jewellers, Chennai, the future is going to be digital. It is time the whole industry learnt to leverage the benefits of the digital medium.
The StayInTouch programme ― designed by iLoveDiamonds.com ― will prepare retailers to showcase their inventory and connect with buyers. Customers can book products over a call with the retailer and make payment at the store or via digital mode.
The top priority for retailers is to stay connected with their customers and showcase their ready inventory. The retail market will be unpredictable and is expected to take a hit of 25-50 per cent at least. Retailers will have to be digitally fit, because consumers won’t ignore digitalisation post Covid-19, he said.
In the iLoveDiamonds.com portal, every participating retailer has got his own dedicated page. It is like a ‘store in a store’ format. A consumer can access various retailers’ sites and see the inventory each jewellery has in the store and select the product.
Not every jewellery shop has its own website, which is expensive and difficult to manage. There are 3.5 lakh gold and diamond jewellers in the country and nearly one lakh gold and diamond retailers. However, there are not more than 25 web stores ready today, he said.
In the StayInTouch programme, no capital investment is required. Retailers can avail technology and marketing services at Rs 6,000 per month + GST. This is an honorary service for around six months, extended to support the jewellery industry during the Covid-19 crisis.