How Parishri Jewellery increased its revenue by 14X with an online store built on the Fynd Platform?
Learn from the masters and cracks the code to festive season sales success with Fynd Platform's Festive Readiness Guide
The Birth of Parishri Jewellery
Rajasthan, the land of ancient forts and royalty is also known as one of the world's largest centres for hand-cutting of gems. It is India's important source of precious and semi-precious stones like; Ruby, Emerald, Garnets, Agate, Amethyst, Topaz, Lapis lazuli, Carnelian, etc.
The story of Parishri Jewellery began in Rajasthan in 2020 when Paridhi and Shrishti channeled their creative energy into crafting unique jewelry pieces amdist the chaos of COVID-19. Their initial venture involved creating custom orders for friends, relatives, and acquaintances. As their craft evolved, their designs began to gain recognition and praise online as well.
Parishri Jewellery offers a wide range of contemporary gold-plated Indian jewellery. Their expertise lies in designing and producing elegant jewellery pieces, such as necklaces, bracelets, bangles, rings, earrings, anklets, etc., at affordable prices.
Parishri is committed to providing exceptional value to its customers through a wide range of products, while also recognizing the increasing demand for personalized jewelry. The company is dedicated to enriching people's lives by enhancing their beauty. They firmly believe that, similar to their jewelry pieces, each individual possesses a unique story to share, which, in turn, inspires others to contribute more towards the greater good of society.
Embracing Professionalism with Fynd Platform
Parishri launched in September 2020 and began accepting early purchases from family and friends. After being recognised by the early buyers, they realised they were on the right track and launched an Instagram page to offer their customers exclusive jewellery pieces.
Instagram allowed Parishri to reach a wider audience. Customer queries and orders started coming in, and the social apps managed them. Managing orders, cataloguing products, and resolving customer queries via social apps is difficult as there’s no panel to manage them.
In 2021, Parishri decided to take the next big leap and shift to an online store to get a seamless business management experience. Fynd Platform enabled Parishri to start their e-commerce website using their no-code e-commerce website builder.
Before embracing the power of e-commerce powered by Fynd Platform, Parishri Jewellery faced several challenges common to many budding entrepreneurs
- Order Management through Instagram: Parishri Jewellery initially managed orders through Instagram, which was successful at first but became increasingly cumbersome as the business expanded, leading to potential delays and errors.
- Order Tracking: They lacked a centralized system for tracking orders, making it difficult to provide real-time updates to customers and risking order mix-ups.
- Catalog Management: Maintaining an organized product catalog was challenging, with difficulties in adding, updating, or removing products efficiently.
- Payment Processing: Payments were handled manually through various channels, increasing the potential for payment errors and discrepancies as sales volume grew.
- Customer Satisfaction: There was a risk of dissatisfied customers due to order delays and errors, leading to a less-than-seamless shopping experience and potential loss of repeat business.
- Operational Overhead: A high manual workload for order processing and communication was a significant operational challenge, making processes time-consuming and resource-intensive.
- Data Management: There was a lack of a centralized system for storing customer and order data, posing a risk of data loss or inconsistencies and limiting access to customer insights and analytics.
- Business Growth Constraints: The limitations of the Instagram platform hindered the business's growth potential, potentially causing them to miss opportunities for expanding their customer base and keeping up with competitors using more advanced solutions.
With Fynd Platform's support, Parishri Jewellery transformed into a fully-fledged online jewellery business. This transition allowed them to tap into a broader market, reaching thousands of consumers across India.
Overcoming Challenges with Digital Transformation
Fynd Platform provided essential features like order management, product uploads, cataloguing, and a secure payment gateway. These tools streamlined their operations, resulting in faster order processing and enhanced customer satisfaction.
Year after year the brand continued to flourish, adding new milestones to its journey and expanding its horizon to success. In addition to the technical aspects, Parishri Jewellery also recognized the importance of strategic digital marketing.
Fynd Platform helped Parishri Jewelry collaborate with our organic and performance marketing partner Vision Activated. As Vision Activated started advertising with Parishri, they created an audience under Meta Suite Ads Manager to reach out to all people who are not only interested in Jewellery but also followers of famous jewellery pages/brands like Tanishq, Cartier, Caratlane etc.
Apart from focusing on new customer acquisition, they also decided to spend some ad budget on remarketing their ads to people who have already seen content of the brand on Instagram but had not followed them or visited their website once or know about the brand in any way.
What further helped Parishri solidify its efforts was strong technical support from Fynd Platform and its own top-notch presence on the social media platforms full of branded reels, carousel posts, user-generated content, influencer partnerships, etc.
Seizing the Rakhi Season Opportunity: A Steady Rise in Sales and ROI
India is the land of festivals and every festival also brings in the opportunity for business owners to cater to customers demands for gifts. Rakhi is one such festival where gifts are mandatory. The Parishri co-founders recognized the festive occasion as a golden opportunity to showcase their exquisite jewellery offerings, including Rakhis, and seized the celebratory spirit of the festival.
The homegrown brand caught on to this festive vibe early on. The outcome was a huge success as the brand closed in a record number of sales with a 14X return on investment.The platform enabled the brand to quickly customize its website by adding an exclusive Rakhi banner, and Rakhi gifts and offers to its website and use the Announcement Bar to highlight its Rakhi offers.
- Growth in Revenue: Parishri Jewellery achieved a 14X increase in revenue, showcasing the profound impact of its online store in driving sales.
- Boost In Orders: The brand experienced an incredible 7-fold surge in orders, signifying the soaring demand for their unique jewelry pieces.
- Wider Audience Reach: Parishri Jewellery attracted a significant influx of new customers, expanding its customer base and amplifying brand awareness.
- Operational Efficiency: Fynd Platform's comprehensive features streamlined the brand's operations, allowing them to offer a seamless shopping experience to their customers.
Embracing Technology To Grow Business Online
India's e-commerce sector is poised to hit $111 billion by 2024 and $200 billion by 2026, catalyzing growth across various industries, including the jewelry sector. As per a recent study, the Indian online jewelry market is anticipated to achieve a CAGR of 28%, reaching a market value of $3.7 billion by 2025.
After getting a phenomenal response from its online store, Parishri continues on its growth trajectory with Fynd Platform. They are the happy to own an e-commerce store that has paved the way for them to run ads, optimise SEO, and be visible on search engines.
Here’s what the founders had to say, “We believe Fynd Platform is the perfect place to house our product pieces! Fynd Platform has constantly helped us by providing the perfect platform to present our work to our customers through an e-commerce website.”