How are Indian brands using AR/VR to sell jewellery online:

Analysis of online jewellery market in India:

● According to IBEF (Indian Brand Equity Foundation), India’s gems and jewellery sector is one of the largest in the world contributing 29% to the global jewellery consumption.

● Its market size will grow by US$ 103.06 billion during 2019-2023.

● It currently accounts for less than 1% of the total e-tailing market in India. The $135-million online jewellery sector in India and is projected to become a $2 billion market by 2022.

● Online sales are expected to account for 1-2% of the fine jewellery segment by 2021-22.

● The jewellery sellers in India are some among the worst-hit during the COVID-19 pandemic, due to lesser footfall in their physical stores. Hence, looking for improving sales through e-commerce is currently a lucrative option.

Using AR/VR technology to sell jewellery online:

● Jewellery is a tactile category, which means that customers generally prefer to look and try them on, before making a purchase. However browsing jewellery online does not give customers a true idea about the size and details. This is where AR/VR technologies can come into play. Using augmented reality, the customer can virtually try on jewellery and choose from a variety of options.

● A survey of 1,000 shoppers, conducted by e-commerce agency PushOn, found that 45% of people would be more inclined to spend larger amounts online if the technology was available that could help them envisage products before they purchased.

● The survey revealed that consumers want to use augmented reality (AR) technology – for example via an app that would allow them to place virtual images of products over a real-world view – to test products before they buy them

● An AR-powered jewellery application can provide features like ‘Try before buy’, social media sharing and easy trial of multiple categories of jewellery like rings, necklaces, earrings, etc.

● An augmented reality try on solution can increase the sales by helping in gaining customers’ insight, by collecting data on the behaviour of the customers, by reducing rates of return and by improving overall customer experience.
Top jewellery brands in India and their current AR/VR technology:

● E-catalogues, 360 degree views of products and virtual try-ons have been available in the Indian e-commerce space for quite some time.

● CaratLane, in 2015, pioneered the space of virtual jewellery try-on features by creating an app for customers with the ability to try jewellery designs “virtually”, aided with an innovative 3D mirror.

Case Examples:

1) Tanishq used Augmented Reality/ hybrid reality campaigns at Delhi and Bengaluru airports to engage with a large audience in 2019.

2) Tribhovandas Bhimji Zaveri (TBZ) was the first in the industry to compile all designs into one e-catalogue. All their 2-3 million designs are available on an ERP system, which is synced with the e-catalogue. TBZ also tested Augmented Reality (AR) in four of our stores in Mumbai

3) Kalyan Jewellers: In 2018, Candere by Kalyan Jewellers launched a virtual trial of the jewellery pieces, using a ‘Virtual Try-On’ feature.

Also, StyleDotMe, a fashion tech startup with an Augmented Reality (AR) has formed an AR platform, called MirrAR. It is the world’s first real-time AR software for jewellers, which retailers like Tanishq, Amrapali, PC Jewellers, and Kalyan Jewellers have integrated with.

As the nation gradually moves towards an ‘unlocking’ phase, the physical retail outlets of jewellers are expected to be open to customers. However, there is now a fear of sanitization of products, which will require the staff to repeatedly clean the jewellery pieces.

With the presence of AR/VR technologies inside the store space, the customers would be able to see the piece as well as try it, without the need of physical contact. Innovations can be expected in this segment, in the near future.

Written by: Juie S. Shah