India's Small Jewelers Embrace Online Sales
December 28, 20
(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.