This is Part two of a two-part series on Jewellery E-Commerce Business from December 2015. The content here is from a seminar by our Director, Kashyap Mehta, that was held on 26th September, 2015, for members of the Bharat Diamond Bourse, Diamond Exporters Association Limited and Gemological Institute of India at the Bharat Diamond Bourse complex at Mumbai, India.
Like every other business, having a strong team coupled with the right business strategies would lead to success.
Get your objectives right. Are you here to sell more and sell fast or are you here you looking for an ROI from your first sale? What is the top line you envisage from your online store? Do you have a mathematically derived break-even strategy? Is it quantitative? After how many purchases from a consumer do you break-even? You do not need to pin it to the last digit but you should have a clear idea of the direction you want to take. Once you’ve thought this through, start building your jewellery store.
From our experience in successfully enabling offline jewellery merchants to go online for years through our jewellery software and e-commerce solutions, here are 5 major factors that every online jewellery store must have!