‘Digital is the way forward’ Digital media will replace print media and E-commerce stores will replace brick and mortar stores. We have been hearing this for quite some time now. But has India matured as a thorough market to support the digital space. While in media we still see brands pay high regards to print media over digital regardless of its limited shelf life. Similarly consumers still feel more comfortable to walk into a store and buy products. However times are changing steadily. For those in the digital space – The process of learning, unlearning and relearning is a constant recipe to sustenance. Those who were rigid with their thoughts have either shut shop or escaped from the game due to mere fear of failure. Least they had realized the potential of digital in a country like India where the markets are just set to open. Slowly but steadily.
In the midst of this we came across a brave entrepreneur who has recently launched an E-commerce store on jewelery. The business model is fantastic since India has been the largest consumer of Gold and jewelery. But will this business sustain the brunt of consumer reluctance or will we see a new tide of change, just like what we now see in the Indian political scenario in India with the rise of Arvind Kejriwal of the Aam Aadmi Party. One thing is for sure that India is accepting change with arms wide open. FMW speaks to GTanya Director of KaratCraft.in a unique online jewelery store that provide over 2000+ designs in Gold and Diamond jewelery.
FMW: What made you migrate from fashion to jewellery ?
GTanya: Fine Jewellery especially Gold and Diamonds alleviate and accentuate Fashion, In a women’s context they highlight stature, good taste and reflect the depth in a personality, with a longer shelf life. Also, Indians have a lot of traditional/heritage jewelery handed over from one generation to another, we saw a strength here. Since the industry is also unorganized, and largely scattered it presented itself as a business opportunity.
FMW: Do you think imitation jewellery has affected the market of original metal or precious stones?
GTanya: Unlike earlier times where a women was modest and had few venues to venture out to in her life sphere, today’s women is more involved and free. Thus her needs and wants have radically changed. A variety of occasions demand a larger assortment of Fashion accessories and Fine jewelery. Spends in both these categories has gone up, Every attire demands a different look, and surely ‘Fusing Fashion’ is a norm now.
So if the lifestyle has changed, there are spaces where both these categories are demanded, Gold, Silver, Diamonds, Coloured jewelery not in the western sense but fused is what the ‘Women of Today’s times is adorning. We at Karatcraft.in feel that we cater to the precious jewllery side of this requirement, and thus remain a part of the total space.
FMW: Do you think Indian market is ready to buy jewelery online?
GTanya: Online jewelery is always Diamonds and on MRP. We want to focus and be like our tagline suggests ‘Your family online jeweller’. This means that we will never want to charge a fixed price, cause customers have a apprehension MRP’s are disguised hiked and then discounted. As a Brand Karatcraft.in aims to conduct itself in sincere transparent manner for our pricing as well as designs.
We are also selling 22KT Gold Jewellery, which means prices changed every minute, which we want to transparently share with the customer. As a principle Karatcraft.in will sell all its items and provide complete price break up to the clients.
Economically its cheaper to buy online both from time and value perspective for a customer. In our case we deal in a High involvement product, we aim to provide over 2000+ designs in Gold and Diamond jewelery in the first phase and later go up till 5000. No brick and mortar store nor an online store would do this, Thus, we wish to bring huge exclusive collections of affordable and practical designs in jewellery to your handhelds. With this kind of penetration, we believe customers can take more guided decisions. Thus online will prevail as a seprate medium too.
FMW: How does a higher karat value enhance the look?
GTanya: Gold by virtue is very soft, thus its mixed with alloys. This mixing reduces the purity of gold. Different designs demand different caratage. E.g. in 24kt Gold, one cannot carve intricate designs, Purity must be bought down to 22kt, and lower. In india broadly 22kt is used and for diamond jewellery we use 18kt however in the west, 10kt and 14kt is also used. We may see similar trends in india catching up. As this doesn’t hamper quality but bring down the price of the product.
FMW: One can buy diamonds for as low as Rs. 8000 at Karat craft. Does it affect the quality?
GTanya: Absolutely not, our designers have created a line of designs to entice buyers, we sell only VS-GH certified diamonds and 18Kt gold in all our jewelery. Our focus was to inform our clients that diamonds are actually affordable and accessible. By trying to bridge this price gap, we consciously want to communicate that this is the Purest form of Jewelery and we do want our customers to believe that. All our jewelery in Gold is Hall marked and diamonds are certified by independent testing labs like DGLA. (Diamond and Gem laboratories of America) All products come with our Promise of quality and a Certificate for every design our clients buy.
FMW: How do you think the designs have evolved over the years? What do we have in store for the contemporary woman?
GTanya: Trends in jewelery have been changing from time to time. It was heavy gold kundan sets then came close chokers. Now the heavy bridal jewellery is been replaced by diamond sets. Design over the years have changed to stylize Indian women to suit its character of a mom to wife Jewelery is always been with the women from her younger age to her olden days in different trends and forms.
Aurum Collection – Designs in gold inspired by nature.
Diavam collection – Traditional designs
Also, Heart and so on….wide range to select from.
FMW: In the early days of ecommerce, we didn’t really have precious jewels on sale. What should a consumer do to make sure it is authentic?
GTanya: Jewelery that is certified by karatcraft.in has a authenticity card on the DGLA site which can be viewed any time.
To get right piece delivered to customers there are third party certification laboratories which make sure the jewel piece received by customer is authentic. Each piece of jewelery takes an hour or more for complete check and then it is approved by laboratories and their mark of seal on the card.
Do visit KaratCraft.in for some latest designs in jewelery delivered right at your door step.
By: Jeremy Cabral