When it comes to choosing gold jewelry there are a lot of factors to consider. Most of the people are skeptical to buy gold from a new shop. As gold is traditional, people prefer buying in shops which they already know. So trust and loyalty factors play a major role when it comes to shopping jewels. Any person would typically look at the buying pattern of his or her predecessor and try to replicate the same when it comes to gold. Most of the jewelry shops try to build a very relationship with customers. This is a common and also a differentiation factor among shops.
If you look at most of the promotions from gold jewelers, the majority of them would be on establishing trust in the shop and on the gold they provide us. Well, in India there are a huge number of shops starting from small ones to the large chain of outlets. The price of gold is fixed by the market and these jewelers play around this price in terms of making cost, wastage, stones etc. Bigger players will be able to bring down this variable costs like making and waste cost and hence the overall cost of the jewel will be lesser.
Also, When it comes to the selection of gold rings for women, the taste varies across different parts of India. Down south people love heavy worked jewelry. Whereas in the north, people prefer more sleek looking jewelry. All these are promising when it comes to purchasing as the kind of collections one shop should have varied drastically with people. The other variation is brought in by age. Now there is a trend towards antique looking gold jewel which is actually a gold differentiation where the gold is made to look more solid and old. Antiques are heavy works which focus on the grace and attractiveness of the jewel itself.
If you analyze the shopping pattern of people in the last 10 years, you can see a lot of changes. Since the advent of e-commerce, people have started to buy gold online. This is a trending one. You may question the factors like loyalty and trust here. But the surprising factor is, these online players are able to establish trust through their medium and people are fine with it. With excellent logistics and customer support, this new channel looks promising. And as usual, online had its own pricing strategy with countless offers which makes it the most attractive channel to shop gold jewelry. Apart from gold, diamond jewels like diamond necklace have equal attention from the upper class.
Diamond sales have started to increase lately. People generally consider diamond as fancy and hence was avoided by the masses for years. Diamonds jewels are sold at a higher price compared to gold because of the making cost. The making cost is between 20% to 60% for that of the diamond. Gold and diamond jewels have no competition has a target a completely different set of audience.