Wednesday, December 7, 2016
The gems and jewellery market in India is predicted to register a compound annual growth rate (CAGR) of 11% through 2021. Maximum demand for gold is seen coming from South India. This is because of the traditional liking for and importance of gold, brand consciousness, marketing campaigns, and increased disposable income of people in that region. The industry’s growth is attributed to a number of economic, social and cultural changes taking place in the country. The recent demonetisation of high denomination currency notes of Rs 500 and Rs 1000 under the Modi government has severely hit many businesses across the country. However, among the few sectors that are gaining out of this move is the jewellery market. This is because gold and precious stones and metals are seen as investment options by a vast majority of Indians. Post demonetisation until 14 November 2016, India imported gold worth USD 900mn to meet rising customer demands.
Eight factors boosting the gems and jewellery market in India:
1. Growing ecommerce:
Ecommerce is one of the fastest growing sectors in the country; and jewellers were wise enough to realise this and invest in the e-market. Many brick-and-mortar stores have launched their ecommerce websites to attract the modern younger crowd and boost sales.
2. Organised retail channels:
ISO-certification and other credibility-proving documentations have made the jewellery market more organised and the customers more brand-conscious. As a result, the number of buyers/investors is increasing along with the number of trustworthy retailers.
3. Synchronised distribution networks:
Online trade of precious metals and stones requires high levels of security and efficiency. With synchronisation among all levels of the supply chain, this efficiency and security can be achieved, thereby ensuring customer satisfaction. Online jewellers these days are focusing a lot of this segment of the market.
4. Changing consumer lifestyle:
Likes and preferences of Indians are rapidly changing. Demand for contemporary designs and fine jewellery is likely to push the market on the favourable side of the scale. Urbanisation has exposed an average middle-class person to many jewellery showrooms and online stores, thereby creating the feeling of desire and want in him/her.
“The top players in the Indian jewellery market include Malabar, Tanishq, Kalyan, Gitanjali and PC Jewellers.”
5. Advertising and promotion campaigns:
Jewellers in India invest heavily on advertising and promotions. They tap popular celebrities from the filmdom as brand ambassadors. Apart from this, jewellers also provide annual savings and investments schemes to promote themselves among the middle-income group.
6. Fluctuating gold prices:
Gold prices in India are never stable. Gold shopping is largely influenced by speculations. People buy more when they feel that the gold prices have fallen or are likely to increase in the future.
7. Tie-ups with online retailers:
Many retailers, who do not own an ecommerce site, have teamed up with popular e-tailers like Amazon and Flipkart. Through such popular etailing sites, it becomes easier for jewellers to cover a vast buyer-crowd.
The competition among jewellers is intense. This is evident by the fact that so many new jewellery showrooms opened up in the past 5 years alone. Among them are Malabar, Kalyan, Bhima, etc.
Monday, October 24, 2016
Hold on...Smartphone apps & websites could be leaking your information!
According to a recent study, many of the popular smartphone applications and websites that we use could be leaking our personal information. The study found that platforms downloaded on iOS and Android, such as those used for advertising and data analytics, can put our personal identification information at risk. Degree of this leakage varies among different sites and apps.
Initially, researchers expected that apps would be leaking more information than websites since they get direct access to user information. However, the study found 40% cases wherein websites oozed out more data than applications. It was observed that platforms such as those used by business analytics and advertising firms sent encrypted details to a third party for authentication. Such authentication/ identity management is, however, essential in events of bug problem. Although the intention of service providers are legitimate, there are chances that passwords and other information may be used for unethical purposes. Customers have no idea about how and where their information is being shared. Researchers are assuming that these service providers have signed proper legal contracts with the third parties in order to protect customer information.
Following this study, researchers have come up with a user-friendly interactive website that will keep users informed and help them in picking the best online services. On this website, users will be able to see the rate of leakage of 50 free online services, ranging from Zillow to Airbnb. Services catering to fields like music, news, travel, business, entertainment, weather, etc. have been listed and ratings will be shown as per privacy preferences of the user. Only those services that have both a website and an app have been included.
This new research is likely to give birth to a hot discussion regarding customer information safety between users and service providers. The complete study report will be disclosed at the Internet Measurement Conference 2016 to be held in California’s Santa Monica.
Monday, August 8, 2016
India has been witnessing a steady growth of public infrastructure including smart cities, ports, residential and commercial buildings. But along with this growth comes the news of rising terrorism, burglary, murder, et cetera. Yes....crime and terrorism is on the rise in the country. As a result, demand for deployment of video surveillance systems is also growing. Government spending on securities ensuring protection of life and assets has also increased. For instance, video cameras are being installed at almost all major national and express highways to record accidents and thefts.
It is estimated that this year, the video surveillance market in India will hit USD 952.94mn, growing at a CAGR of 32.49%. By the year 2020, the value of the market is likely reach USD 2.4bn. Major players in the Indian video surveillance market are Dahua, Honeywell, Axis Communication, Milestone, Pelco, Hikvision, Bosch, Genetec, and Zicom. The analogue-based surveillance system dominates the Indian video surveillance market with around 68% market share. However, IP-based and wholly-integrated surveillance systems are becoming popular in India because of features including sensor detection, remote controlling, video analytics, background screening, and digital video. In the following years, Internet Protocol-based (IP-based) surveillance solution is likely to be the fastest growing segment with a CAGR of 41.78%.
The three main points responsible for IP-based video surveillance systems’ growth:
- Falling prices
- Increasing IP infrastructure
- Remote monitoring and controlling
Video surveillance systems not just record mishaps, but they also provide evidence in the court of law. With large storage, it becomes easier to track culprits and their moves. In the near future, systems incorporating business intelligence software will become popular in the market. With such systems, businesses will be able to improve their performance by using information recorded at point of sale and marketing. Mobile-based, cloud-based, and integrated surveillance solutions are likely to dominate the Indian market in future.