2. Executive Summary
• Goldeez is one of the most innovative e-commerce start-up in jeweler
industry.with an vision of changing the traditional approach of buying jewelry
in India.Our business model differentiate us by combining the age old method
of buying jewelry with the twist of technology .We are providing different
jewelry designs on our website with the ease of customization and making
the purchase process efficient and hassle free.Our association is with the
genuine jewelers in the local area,The final order of the customer is sent to
the local partner jeweler after the completion of the order customer are
instructed to complete the payment while collecting it at local store.
3. • We tend to provide solve the problems of quality
assurance by providing 91.6 BIS HALL MARK , we
ensure the security by providing unique identification
number to every item that has been sold from our website
creating ease in exchange and resale,we solve the
problem of limited designs in the market by empowering
customers to customize their own jewelry.This process
reduces the purchase time.
4. Situation Analysis
• The gems and jewelry market in India is home to more
than 500,000 players, with the majority being small
players.The Indian jewelry market is currently valued at
close to $60 billion and is expected to become $100 -
$110 billion in next four to five years. Online contribution
for fine jewelry is expected to reach 1 - 2% by then. This
is the beginning of an important phase in the evolution of
the jewelry segment as a whole, considering the size of
the market which is still traditional and fragmented.
6. Strategy
• UNIQUE VALUE PROPOSITION :
• We maintain the policy of zero inventory which reduces the risk
• We provide the unique identification number which eases the
process of exchange and resale and provide security when lost
• Our website provides 3D based customization software which
gives customers a better idea of their design
• Being an e-commerce website, we still provide traditional touch of
purchase
• This websites serves as a platform to partner stores to boost
sales
7. Target Market
• Predominately females belonging to middle income with
age group of 19-60 years. Traditionally, India has been
purchasing gold for various reasons but mainly as an
investment and sentimental reasons. There has always
been a demand for this commodity. In the jewelry market,
the e-commerce websites majorly the upper class
customers, we try to make it a user friendly website so as
to attract the middle class too.
8. Tactics
• PRICING :
• Gold(10gm)=Rs 30000 approx.
• Making charges as per design
• Taxes applicable (GST 3% on gold+5% on making
charges)
• x : 30000+1500(M.C)+(T)900+75+2400=34875
9. Product
• We are dealing in the segment of jewelry. We assure the
customers that they receive the highest form of purity in
terms of gold depending on the price they pay and they
also have the local dealer’s assurance in order to make
the customer more trustworthy.
10. Incentives
• The consumer can find that the prices of the jewelry
pieces are significantly lesser than of other websites. The
website also offers discounts to premium accounts which
has more range of shops they can select from.
11. Service
• We are reducing the physical effort of the customer-dealer
interaction by connecting them through the medium of our
website. With just visiting our website, they get access to
all the local jewelers available nearby and can also
modify/create the design as per their own will.
12. • Brand :
• One of the objectives is to improve the consumer visibility of the
website by partnering with local traders which will also boost their
trade. We are trying to promote a smarter way of purchasing
jewelry that has not changed since centuries.
• Communication :
• Customers and the jewelry dealers initially interact through the
medium of the website.
• Distribution :
• After the customer chooses/modifies their design, they have the
option to either delivered it to their home or can choose to meet the
retailer at the time of purchase.
13. Implementation
• We plan of starting it from one city(Hyderabad) treating it
as a test market with partnering with about 30 jewelers in
the Q1 Y1. As the operations expand, we plan on tie up
with major jewelry chains in order to go Pan India.
14. Control
• They are various factors which affect the external
environment. Such as the housing and real estate sector,
the taxes charged and many more. In order to measure
the company’s performance, it is essential to look at
customer experience at examining their reviews and the
percentage of commission/sales reflect the convience of
customers interaction with the website.
