While many believe that buying jewellery is more about experience as it’s more than just a piece of metal, as a category it is growing by leaps and bounds in the online space. Not only that, with this particular category the lines are fast blurring between the online and offline spaces. Talking to the Retailer media is Vishwas Shringi, CEO and Founder, Voylla.com on their foray into the jewellery business and why consumer centricity and forecasts play a bigger role when the orders come pouring in.
Why a jewellery business?
Jewellery was a very thought through decision. Lifestyle is a category which is growing leaps and bounds in Indian e-commerce space. While apparel may have challenges like fitting, feel of texture, jewellery is a hassle-free category.
We started with imitation space as this is a rapidly growing segment. It is also an ‘impulsive buying’ category, works perfectly for a lifestyle portal. The price point ensures that conversions are high, and our wide assortment ensures that customers do not look anywhere else when they have to find just the right match for the dress that they love!
What are you finding interesting about the jewellery market today?
I find it is very amazing when we get mobile orders from remote places. It further strengthens my belief that the market is maturing at a much faster rate and e-tailers must fasten their seatbelts for a very intersting ride.
How do you source the merchandise?
Voylla has very strict control on what we procure. Our analytics based curation engine predict with a high confidence what we need to procure, the selection thus suggested is scanned rigrously by highly experienced merchandising team to ensure that nothing but the best is presneted to the customer.
As fashion is very forward looking ctegory, we also continously follow international and national trends to ensure we have everything our customer might be looking for
Our design team continuously create new selections and extension of lines already liked by our customer base.
Whatever is in vogue, is always at Voylla!
What quantum of merchandise do you have online?
We have 10000+ SKUs live and data base of 30000 SKUs, We add 500-800 SKUs every week to our selection.
Aside from having an online store of your own, is your label available on other e-commerce sites as well?
We are the laregest seller on all major ecommerce portals like Snapdeal, Amazon and Flipkart. The partnership with them has been hugely successful. We’ve recently been awarded for being the top performer from Flipkart.
Tell us something about the brand, Voylla.com and your achievements till date.
The costume jewelry (also known as Imitation jewelry and fashion jewelry) category operates in what could be the most fragmented market. The competition can well and truly get down to the ubiquitous road side vendor. Hence, it genuinely offers challenge and opportunity as two sides of the same coin. This category has existed for ages but curiously it doesn’t boast of a single brand worth its logo, at least till today.
The market size is estimated to be Rs 8000 Crore with online jewelry contributing Rs 180 Crore.
We at Voylla would like to lead this exciting journey as a category leader and are on our way to build an aspirational and a durable brand, which will stand for value, quality and irresistible choices.
There is two years of sustained efforts in understanding the customer, setting up a robust back end supported by the technology edge and a fine detailed curating experience with us. This shows in over 10000 SKUs on our site, which gets refreshed with almost 800 SKUs every week. Over a lakh customers have patronized us, making us the top jewelry site. It is an enviable position to be in.
Brand Voylla is now at the cusp of creating a history, traversing a territory yet unchartered.
Don't you think the market is already cluttered with jewellery e-tailers today?
Voylla is not just another etailer, but is a brand with strong online and offline presence. Our strong technical backend, a very deep understanding of products, an analytic approach to model and forcast customer behaviour accurately are some advantages what makes us stand out from the crowd.
We have a strong backend team equally backed by a customer centric approach. With a very methodical and sytematic approach Voylla has won over this very unfragemented market to create a fabulous brand. Today’s women knows that they can afford to be AlwaysBeautiful with Voylla!