Jewellery Business In India Contributes To 6-7% Of The Country’s GDP
Artificial jewellery has been part of our culture for almost 300 years. Due to the high soaring price of gold and diamond, the artificial jewellery business has a great potential to prosper.
The fashion conscious Indian women with higher disposable income are driving the fashion and artificial jewellery market in India. The artificial jewellery business is flexible; as it doesn’t require high investments and there are many ways to start and grow your venture.
The growth of Artificial jewellery industry
Artificial jewellery business has a great market in both rural and urban areas, owing to its low cost and attractive designs. There are many factors that are fuelling the growth of artificial jewellery, some of which are:
Value for money
With soaring gold and diamond prices, it is more affordable and convenient to embrace artificial jewellery. Imitation jewellery can be worn and discarded according to latest trends due to their low-cost benefit.
-Innovative designs and variety:
Imitation jewellery comes with the unlimited and exquisite design. Usually, women prefer to coordinate theirsaccording to their dresses. Due to an affordable range of artificial jewellery, it is much easier to make a collection for regular as well as formal occasions.
Imitation jewellery is safer to wear as compared to the authentic jewellery. Currently, with theft and crime increasing in society, customers feel more secure wearing fake jewellery.
-Lack of gender bias:
Nowadays, Men have also initiated an interest in adorning themselves with this. One can easily come across specially designed fashion jewellery like bracelets, rings, chains, pendants, earrings for the male gender also.
Different Ways to Start an Artificial Jewellery Business
Home-based: Starting a home-based imitation jewellery business is the best option for working professionals. You will save a lot of capital required for purchasing a separate place as a shop. You can also take assistance from your family members in running the business.
Shop: This one is the most common and profitable way to start any business. You need to purchase or rent a shop to showcase your items and attract customers through various promotion and marketing strategies.
Online: The world has gone digital. You can sell your fashion jewellery over your own website or on e-commerce sites. The best part of this business method is that your business gets an exposure to billions of customers and access to a huge market.
Manufacturing: Rather than selling the jewellery, if you have the skills and potentiality, you can manufacture them on your own. You will get the benefit of selling your product in a huge volume to the retail shops or wholesalers. You can even sell your product directly through the online market also for higher profit.