Professional Documents
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COMPETITOR ANALYSIS:
Bluestone
Bluestone is a part of Bluestone Jewellery and Lifestyle Pvt.
Ltd. Bluestone is an online jewellery store that houses high
quality jewellery and accessories with strikingly exquisite
designs. With its affordable rates and unique shopping
experience, Bluestone claims to be a one stop destination
for making any given day an occasion.
KEY INVESTORS:
Ratan Tata
JEWELSOUK:
Velvet case:
It is a part of Bluestone Jewellery and Lifestyle Pvt. Ltd. and
is an exclusive destination of 1000+ multi-designer, multigenre jewellery creations. The Mumbai-based company,
founded in 2012, earlier focused on selling customized
and designer jewellery through its portal and had raised Rs
6 crore from Chennai Angels last year. The website
currently processes about 1,200 orders per month and ships
to 15 countries outside India. Having opened an office in
New York, Velvet case is evaluating setting up an office in
Consumer Insights
About the survey:
We conducted a survey on 90 respondents from cities such
as Delhi, Jaipur, Lucknow, etc.
The age group was 18-35 years and 81% respondents were
women.
All the respondents had shopped online for one product or
the other.
Response of the users
59% of the respondents had purchased jewelry from Carat
lanes website before
Most users first heard about Carat lane from peers or
discovered it online while wanting to purchase jewellery .
The biggest criteria while purchasing jewelry for both users
and non-users was quality.
21 respondents who saw the Carat lane advertisement on
TV/online liked it.
Customer experience ratings:
Very Bad-1
Bad-2
Average-12
Good-31
Very Good-7
Most users liked the website design, ease of access and
interactivity, with only 4 users disliking the website.
Some users suggested that the exchange policy should be
better and quicker as well as more assurance on quality is
desirable. While some suggested that there should be more
unique and original designs available.
Response of the non users
RECOMMENDATIONS
After a review of the insights we came to a conclusion that the
awareness about Caratlane is extrememly dismal despite them
putting up advertisements in the TV ads, even movies like Dhoom
3 and on the internet. Apart from that there are other concerns
like the lack of trust by the consumers and no penetration among
the tier 2 and tier 3 cities by Caratlane. We have arrived at the
following set of suggestions for Caratlane.
Advertising key strengths
Caratlane has several good services that address the consumers
apprehensions about buying jewellery over the internet but their
awareness is low. Therefore the basic agenda for Caratlane in its
advertising should be making people more aware the following
facilities provided by it.
Purity certificate
Try at home feature
Insured delivery
30 month exchange policy
Contemporary designs
Huge discounts
Try the jewellery virtually feature in app.