How Technology Has Changed the Traditional Gems and Jewellery Industry
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Jewellery is an important part of the Indian culture. The connect is not just financial, but it is personal or rather say emotional. And just like every other sector in India, the domestic gems and jewellery industry is going through a major transformation to adapt to the upcoming technologies
In a conversation with Entrepreneurs, Jewellers across the country share how has technology changed the way they manufacture ornaments to the way consumers buy it.
Technology plays a vital role in the designing and manufacturing process of ornaments, especially with the CAD and CAM software along with the 3D printers in the market. “These advancements have taken the processes of jewellery making to another level. The designs can be experimented and discarded at the click of a few buttons. This process would earlier take endless hours by hand. The designs can even be in various forms of illustrations- hand sketched, watercolor or photo-real formats,” said Tanya Rastogi, Director, Lala Jugal Kishore Jewellers.
According to Ishu Datwani, Founder, Anmol Jewellers, “With software like CAD, the designers also have discovered new methods for processes like invisible settings or gemstone cutting techniques, laser engraving and soldering and colour treatment of gold, making it possible to create innovative and unusual designs along with lightweight jewellery that has a better finish.
While for Vaibhav Saraf, Director, Aisshpra Gems & Jewels well-integrated ERP system.which helps in managing all aspects of the business, has been a great friend.
“Online integration with our website helps in maintaining a design catalogue for offsite client selection. ERP helps us in detail sales analysis and reduced non-moving inventory and seasonal stock selection,” he adds.
Thanks to e-commerce, that has increased the reach of a jeweller's house, Aditya Pethe, Director, WHP Jewellers no longer feels geographically restricted. WHP host two e-commerce sites – one for gold and diamond-based jewellery while the second one is a silver-based jeweller. Though the contribution of the main portal is minuscule (about INR 5 crore in FY 2016-17), WHP is extremely bullish on the model.
Meanwhile, Saraf praising the reach of the social media added that the medium has played an important role in brand building, not just in the domestic market but also the international market. On the side, Datani feels mailers have become an effective and important medium of communication with clients.
“The online media is only growing and e-commerce is gradually dissolving all boundaries between a brand and its buyers,” Datani added.
#Keep It Safe
Apart from manufacturing and sale processes, technology has also led to major improvements in security.
“The invention of devices such as bulletproof glass, video cameras, and better locks for safes and cases as well as refinements in alarm systems have improved store security and increased the safety of jewellers and their merchandise,” he shared.