J.B. & Brothers, Mumbai desire to enter into Indian E-commerce industry sincerely. The company has done detailed research of the Indian market and various consumer segments. The expert panel constituted by the company has examined minutest details related to the e-market.

E-commerce : Full of Possibilities !

E-commerce has a firm hold in India and is set to skyrocket by the end of the financial year. Last year, Indian shoppers spent an estimated $565million (Rs.2, 300 crore) online according to the Internet and Mobile Association of India (IAMAI), a market research outfit. The Associate Chamber of Commerce & Industry of India (ASSOCHAM), an influential industry group, says this figure is expected to shoot up to 139 per cent to $1.35billion (Rs.5,500 crore) in 2007-08.

Product Development :

Nevertheless, India does not have even the remotest shadow of any operation like Tiffany or Cartier. Their concepts make full use of the latest internet technologies. “Our research indicates India is on the verge to take full advantage of them as the number of individuals who appreciate and understand the value of buying online is increasing rapidly. With the current scenario, so promising J.B. & brothers want to step into E-commerce arena for the same,” says Deepak Nair, Senior Operations Manager of J.B. & Brothers. He further informs about the company’s ambitious project, “Our group (the JB & Brothers group) is going to launch a website for the sale of loose diamonds and fine diamond jewellery in India. Some of the features of the site are based on models that are now used successfully in the United States and other parts of the world. We wish to take these concepts and integrate them with our own innovations tailored specifically for the Indian market.”

The innovations that the company is going to use would be :

“Build your own ring” which is ideally suited for Indians who appreciate customizing their jewellery. With this tool they can choose from a wide range of high quality designs and huge list of certified, natural diamonds available at the best prices to create the perfect personalized piece of jewellery as needed. %% The availability of diamonds directly from the manufacturer to the customer, using internet to increase a customer’s choice and reduce cost will be a major strength of this venture. %% The company has skilled designers capable to adapt existing designs or to bring to life the ideas of internet clients with the use of hand drawn artwork and 3D Computer Aided Design (CAD). %% The availability of trained customer service representatives 24x7 gives the customers an added advantage to call or chat at their convenience. This will suite newly emerging time starved, career driven segment of the Indian Market.

Inimitable Convenience :

Online shopping is very popular globally for its matchless advantages. However, popularity is still catching on in the Indian subcontinent. People largely like online shopping for the reasons mentioned below. {[No pressure to buy and absence of forceful sales people looking for another sale.][Clear and accurate information of products.][Accessibility at the consumers’ leisure.]}

The Road ahead :

However, every industry faces challenges. E-commerce is no exception, says Deepak Nair, “One of the barriers of making significant purchases online is trust. We consider this to be a big challenge and are creating a brand in conjunction with one of India’s largest advertising companies to address this. We are confidant that our branding combined with aggressive marketing and word-of-mouth from satisfied customers will overcome this barrier. Changing customer tastes and the evolution of retail-especially in smaller towns and rural areas-will definitely bring about change very shortly in what is offered online in India.”