A lot of people are turning to online jewellery stores to buy gold. Jewellers and luxury retailers have been around for centuries. But online jewellery stores have just recently emerged in India. These offer products and services that traditional retail channels could not find, like brick-and-mortar outlets and showrooms.
The gold market has grown exponentially over the years, and now there are more than 600 licensed jewellers selling gold across India. As per a recent survey, the demand for gold is expected to rise by 10% every year until 2020, which means that it will grow from Rs 3 lakh crore ($ 49 billion) in 2018 to Rs 4 lakh crore ($ 63 billion) in 2020.
The most considerable demand for gold is in the rural and semi-urban markets, where 92% of India’s gold demand comes from. With this increase in demand, there will be a rise in the use of digital channels to purchase gold online.
Advantages of buying gold from online jewellery stores
Online jewellery stores in India are becoming more popular because they have many advantages over traditional brick-and-mortar stores. Setting up an online jewellery store is significantly lower than a physical store, and it is also easier to manage inventory and stock. This is because the items can be shipped within 24 hours of payment, reducing storage costs compared to traditional stores.
Gold Price in India
Gold is a precious metal used for many purposes like jewellery, decoration and currency, and gold is also considered one of the best investment options.
Gold price in India fluctuates daily and depends on the demand and supply of the metal in the market. The prices are determined by market forces which include supply, demand, interest rates and other factors. The gold price in India is currently Rs 3,300 per 10 grams, which is higher than its last month’s price of Rs 3,065 per 10 grams.
Best Practices for Buying Gold Online in India
There are many ways to buy gold online in India, and it can be done using different payment methods such as cash on delivery, debit or credit cards, or wire transfer. The best way to buy gold online in India is through cash on delivery, and this option is less expensive and assures the buyer that the product will reach them without any delays. The key to buying gold online in India is finding a trusted seller and then choosing the method of payment that suits your needs.
We must remember that we are living in the age of technology, and we live in a world where everything is becoming more and more accessible with just one click. Not to mention, people are always looking for a way to make money on the side or invest their time into something that pays off.
The online jewellery store is an example of how people can make money on the side while still enjoying life. It’s not easy, but it’s possible!