Today, retail shopping involves one of two options; you either buy products online or walk into brick and mortar stores.
These days however more and more people want their goods to be delivered faster and cheaper to their doorsteps which continue to put pressure on traditional retailers or brick and mortar outlets.
But when online shops can’t quite deliver, the customer needs to go to the store themselves and this experience can be very frustrating. Therefore this cannot be the only option.
So let us introduce a new form of retailing called ‘Smart Retailing’ being pioneered by my company, MarketOrders. We are shaping up a new type of retail experience by combining the best of both online and offline retailing for the gold jewellery industry.
At MarketOrders, we call this a converging platform. Our platform is helping to redesign traditional stores into smart retail stores. We help retail jewellers to embrace new technology to enhance their traditional retail stores.
eCommerce and the high street don’t have to fight for sales. Instead, we help our retail jewellers discover how they can use digital tools like MarketOrders to help reach more customers by ordering smarter and cheaper.
Even though the world is becoming more digitised, there is still demand for in-person purchases. People don’t just want to buy a product. They want to buy an experience, especially when it comes to high-value items like gold and diamond jewellery.
Retail stores can embrace this growing trend through what we call ‘Smart Retailing’ and we are already helping traditional gold jewellery retailers to adapt to the new digital world in new and creative ways.
photo credit: https://pixabay.com/en/jewelry-necklace-shop-windows-1159685/
MarketOrders, proof of concept (POC)
So let’s start with your experience when you visit any gold jewellery shop if you have been to one. It takes hours for you to choose and pick that perfect item for your loved ones.
You might not like the design or style or maybe it’s too expensive. It could also be a dull experience if you are having to get the attention of store staff and they are not being particularly helpful!
You could purchase the item online however that is also not a perfect experience. You may want to touch the item, feel it and try it on. The item may also need to be made to order and can’t accommodate a suitable delivery window in time.
Introducing the MarketOrders hyper-local mobile commerce vision
From our experience, we have seen that most customers prefer to buy local especially when it comes to jewellery.
Now through the MarketOrders platform and its hyperlocal mobile commerce, everything will be customised the way you want (business owner and end consumers) and the experiences will be powered with technology. This will help the customers to make more informed choices and improve efficiency.
The MarketOrders platform allows the retailer or their customers to pick and choose what they want, when they want and at what price they want.
Purchasing gold jewellery is still operating in a very traditional way. The process was designed decades ago. The retailer has to visit the suppliers to find designs that suit his customers needs based on gut feelings as nothing is digitised or data-driven. This costs time and money and is an inefficient process.
MarketOrders redesigns this experience by bringing universal designs onto our platform. Retailers can view the products they want with no sales pressure to buy, no need to travel to the suppliers on the other side of the world and no longer having to leave the business unattended. Retailers can also purchase from one source instead of multiple distributors which is also time-consuming.
MarketOrders allows retailers to browse what they want and check the price suitability before placing the order and make a request to deliver or pick up at a particular time.
All the small traditional retailers can get a unique makeover by using the MarketOrders platform.
Most brick and mortar jewellery retailers have not changed the way they operate since the mid-eighties and these stores are the lifeblood of many localities and communities. Today they need to be more convenient to cater to today’s shoppers and satisfy their experiential desires.
The real transformation that MarketOrders will bring is digitising the traditional store.
The technology that MarketOrders is building will help traditional retailers with the analytics of their store. This will help decide what products they need, how much they need, who is their customers and etc.
This means the local stores will be better enabled to serve the needs of the local customers. The possibility for small brick and mortar shops are endless with MarketOrders where we are helping to reimagine the stores the way their customers want to shop. Smart Retailing is the future for the gold jewellery industry.
Connect with us:
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Contact details: email@example.com
Written by CEO & Founder, Ram Krishnna Rao