This is Part 1 of a two-part series on Jewellery E-Commerce Business in India. 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.
In the Beginning, There was Nothing.
The advent of internet has revolutionized the world as never before. Ever since the first recorded social interactions through electronic devices emerged in the 1960’s, the world has come closer due to the enormous power of the phenomenon called the ‘internet’.
Fast forwarding to India of the 2000’s, post liberalization, personal computers were common in most households. Internet penetration was picking up with the introduction of broadband which was followed by mobile internet thanks to growth in the telecom space that enabled buyers to consider online as a potential channel to shop.“As of 2015, India has the third largest base of internet users in the world. And, this adoption gave rise to a new phenomenon – E-commerce”.