India moves to online shopping but gold, silver jewellery market still obsessed with visiting stores

Jewellery retailers have reopened all their showrooms and footfalls across stores have improved in the last 2-3 months despite the continuing pandemic-related uncertainties. The coronavirus pandemic has further enhanced consumers’ interest in online shopping across various product categories; however, the retail jewellery market is still being driven by the touch-and-feel factor. While online sales have increased, its share of revenues remains insignificant at less than 5 per cent in the retail jewellery market, said a report by rating agency ICRA. Unlike other retail products, customers prefer to see jewellery designs in person as the touch-and-feel factor took prevalence, the report added. The survey conducted to assess the impact of Covid-19 on business, consumer sentiments post-lockdown, and their expectations on gold prices, festive / wedding demand, etc post-lockdown revealed that retailers have reopened all their showrooms and footfalls across stores have improved in the last 2-3 months despite the continuing […]

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