GJEPC UNCUT 2020 held a webinar on ‘Leveraging Cross-Border E-Commerce with Amazon” on 7th August, 2020, in collaboration with Amazon Global Selling. The event was kickstarted by Shailesh Sangani, Convener, National Exhibitions, GJEPC, who gave an introductory address.
Nickhie Antony, Manager, Jewelry Category, Global Sales, Amazon, Prateek Gupta, Business Development Manager, Amazon, shared useful information for MSMEs, who wished to start selling online in the US. Pratik Sanghani of BVC Brinks, Amazon’s logistics partner for the jewellery category, answered queries from webinar participants pertaining to shipping policies.
Here are the key pointers:
Amazon Global Sales is one of the easiest ways for Indian jewellery manufacturers to take their business global, sell products directly to customers, and create international brands from India.
Jewellery manufacturers can get demand for their products all throughout the year, participate in Amazon international sale events and marquee sales occasions like Prime Day, Cyber Monday and Black Friday.
Global return policies are easy, and cross-border payment is aided by multi-currency support.
The popularity of online selling will only grow in the years to come, and the pandemic has only accelerated the process. When Amazon started in 2015, it had 9,000 Indian sellers and 15 million selections. In 2019, the number has grown to 50,000 with 140 million selections. This is the right time to scale up businesses through e-commerce with minimum investment.
Amazon’s vision is to have $10 billion-worth of cumulative exports from Indian businesses selling on Amazon by 2025. The company is in the process of investing $1 billion to digitise Indian MSMEs.
Manufacturers can opt for the “Fulfilment By Amazon (FBA)” service, or the Merchant Fulfilment Network (MFN) route. FBA is preferred as the merchandise lands in Amazon’s Fulfilment Centres. Some of the main benefits of FBA is that customers can get delivery from the warehouse within two days, at lower costs, with 24×7 customer support and easy return solutions.
While registration is a simple process, fine jewellery needs to be certified by labs such as IGI or a third-party lab in the US before it is sold online.
Sellers must take note of Listings and ensure the title of the product with certificate should be mentioned; use appropriate keywords to improve search results; price your products competitively; and product descriptors and well-shot images are a must to help consumers make informed choices.
Sellers must have an Importer-Exporter Code (IEC) Certificate and must be registered with the Customs department.
Key categories in jewellery that are doing well in North America are diamond-set earrings and pendants in 10-karat and 14-karat gold; silver jewellery; silver jewellery set with precious and semi-precious coloured gemstones.
Amazon charges 20% commission for jewellery up to a product value of $250. Thereafter an incremental charge of 5% is levied on balance product cost.