Online Jewelry Retail Market Growth, Size, Status ,Trends,and Forecast 2022

Jewelry has always occupied a special corner in a woman’s heart. While for some it holds a deep emotional value, for others jewelry is a way to enhance and add to their individual style quotient. The right piece of jewellery accentuates an individual’s beauty and compliments their outfit. The recent years have witnessed a surge in online shopping owing to the easy access to the internet, even in remote locations.

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The online jewelry retail market has experienced a rise in demand due to the numerous benefits over the conventional jewelry showrooms. With the growing popularity of online shopping, customers are spoilt for choice. Buyers can choose from a wide range of ornaments belonging to different price ranges and brands, available in unique styles and designs, all from the comfort of their homes.

According to the report added by Research Beam, the global online jewelry retail market is expected to grow at a significant CAGR during the forecast period, (2017–2022). The report presents a brief overview of the current and emerging market trends and the factors that drive or impeded the growth of the global online retail industry. The remarkable growth of the market can be attributed to several factors.

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Major e-sellers and retailers offer various services to the customers such as easy return policy, cash on delivery option, free shipping, along with genuine products. In comparison to the sale of precious and fine jewelry, fashion jewelry has found a large number of buyers from these online platforms. Fashion jewelry comes sans precious stones, expensive material, and is relatively easy on the pocket. The rise in the disposable income of individuals in emerging economies of the developing countries has led to the overall growth and development of the sector.
However, the consumers are apprehensive and avoid investing in expensive jewelry and ornaments bought online.

The leading players in the online jewelry retail market include Lansinoh Laboratories, Johnson Outdoors, Optimal Media, Adidas, Puma, Toro, Bosch, Fila, Rhino Rugby, Canterbury, Under Armour, E.T., and Browne Drug among others. The growing competition in the industry is expected to open up several opportunities and novel ideas to boost the expansion of the market. Online retailers and shopping portals are constantly adding newer features and options to improve the user experience and ensure the sale of authentic and genuine products.

India-based Kalyan Jewelers acquires online jewelry firm Candere
With an aim to magnify its presence in the competitive online jewelry retail market, one of India’s top jewelry stores, Kalyan Jewelers, bought Candere, an online jewelry firm with a strong reach in the US, India, and the UK. The company acquired Candere for a total sum of about Rs35–40 crore. Candere, set up in 2013, offers more than 4000 designs and specializes in the diamond segment. Rajesh Kalyanaraman, the executive director of Kalyan Jewelers, said “We believe that the online jewelry market offers tremendous growth potential and expect it to contribute 5–7% of our top line over the next 5 years. The acquisition will also accelerate contribution of our global revenues”.

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