Amidst the ever-surging jewellery prices and confined markets, Gold N Stone Inc has released the beta version of its jewellery website . The company is an online jewellery portal headed by a team of young professionals, who have inherited a 70-year-old legacy of jewellery business cited in the pink city. They aim to overcome the barriers of distance and cater to the diverse needs of customers, residing in different parts of the world through their online portal.
India, realizes only 0.1% of its jewellery sales through the internet, whereas U.S being the largest jewellery grocer, grosses around 10-12% of the total sales ($57 billion) online. Recognizing this fact, Mr. Keshav Jakhotia, CEO, Gold N Stone Inc said, “A very small proportion of jewellery has turned up for online business here, in comparison to U.S. Aren’t we just ignoring the potential e-commerce holds in it’s scope? E-commerce in India is in its nascent stage. And we can make, much more out of it.” According to him, local markets and regional shopkeepers have a number of limitations that undermine the potential trade and obviously, customer satisfaction. Regional vendors tend to maintain a specific amount of stock, which results into high inventory costs, thereby making the products more expensive. Also, due to high outsourcing fares, the variety and range of goods is limited (regional craftsmen fall common to different vendors), which again impairs the customer experience.
Gold N Stone aims to expunge all these shortcomings and make the optimal out of the power of internet. The company showcases 3-D models of over thousands of designs that they will especially fabricate once you order them. This is surely helping them to bring out the best prices, for their customers, as they do not have to maintain an inventory. The company has already received numerous orders, accounting to the trust the brand has been able to instil in its customers. The portal is refurbished with new design additions every now and then, and manages to hoard a large footfall of over 15000 unique visitors every month.
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