 "Zeba Khan, Director, Amazon India Fashion and Beauty")
Zeba Khan, Director, Amazon India Fashion and Beauty
Amazon is seeing an 84 per cent year-on-year increase in the hallmarked gold jewellery category and has recorded a 5-times spike in demand in just the first two days of their ongoing Amazon Great Indian Festival (AGIF) sale event, which started on September 27. This demand is being witnessed by brands such as Malabar Gold and Diamonds, PN Gadgil Jewellers, Joyalukkas, PC Chandra, and KISNA, among others.
As per current trends, customers are purchasing fine jewellery starting at Rs 2,000 for silver jewellery and up to Rs 40,000 for gold and diamond jewellery. In the last year, Amazon has seen more customers opt for 14 karat purity, growing at 2.5 times year-on-year (Y-o-Y) for daily-wear purposes. Aside from Rs 14,000 jewellery, the firm has also seen a steep increase in Rs 18,000 jewellery, growing at 75 per cent Y-o-Y.
In sync with global trends, Amazon has also launched a host of brands offering lab-grown diamonds at sharp prices to customers. The firm said it is the first and only online marketplace focusing on this. This festive season, customers will be able to buy gold and silver jewellery with lab-grown diamonds starting at prices of Rs 2,500, from a wide selection of more than 50,000 styles.
“This festive season, customers are blending tradition and modernity, with gold and diamond jewellery, including lab-grown diamonds, seeing a 5-times spike in demand,” said Zeba Khan, director, Amazon India Fashion and Beauty.
Amazon said customers continue to prefer its platform for their auspicious purchase of gold and silver coins during topical events like Akshaya Tritiya and Dhanteras. The platform is offering the widest range of gold coins across price points and weights to suit various customer needs.
Amazon offers more than 5 lakh styles in silver, gold, and diamond jewellery. In the past year, the firm has launched many brands related to this category. It has seen high traction among customers for rings (2 times Y-o-Y), neckwear (1.5 times Y-o-Y), and earrings (1.3 times Y-o-Y).
As per a study conducted by the World Gold Council in 2021, 45 per cent of gold jewellery sold in India is categorised as ‘daily wear’ (average selling price is Rs 5,000 to Rs 50,000). Bridal wear is another area with a 55 per cent share of the segment. Daily wear jewellery is preferred by women aged 18 to 35 (67 per cent of Indian women). This customer cohort is also highly amenable to buying online, with almost 53 per cent claiming that they have bought jewellery online at least once in the last 12 months.
Khan of Amazon also said that sales of smartwatches surged 10 times, and premium watches grew 6-fold, reflecting strong interest in premium lifestyle products. Men’s sneakers saw over 7 times growth, and ethnic wear demand spiked by 7.5 times. Trolley sets soared by 23 times, and luggage jumped 6.5 times. In the beauty segment, luxury categories grew 4 times, with fragrances leading the trend.
“These trends highlight our customers’ growing demand for premium, high-quality products,” said Khan. “As we approach Dussehra and Dhanteras, we expect this momentum to continue,” she added.
First Published: Oct 04 2024 | 6:57 PM IST
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