Goldsetu Expands its Service Portfolio by Enabling Virtual Inventory Model for Jewellery Retailers

Goldsetu, a mobile-first fintech and commerce micro SaaS platform for jewellery retailers, introduces a virtual inventory model for jewellery retailers that will allow them to offer latest designs to their customers without any upfront investment in inventory. Small and medium-sized jewellers don’t have access to the best manufacturer as they exclusively work with the large offline and online retailers and unlike larger brands they also can’t afford to have inhouse designers. This limits their access to the latest and trending designs. Also, these retailers can only stock a limited number of physical pieces as it requires them to invest in inventory. All of this together leads to lower conversion.

Goldsetu virtual inventory platform will allow jewellers access to a design bank that includes latest designs from the best manufacturers as well as exclusive designs created by Goldsetu designers. They can add this design bank to their digital storefront and can manifold increase their offering for the customers. All of the products in the design banks come with backward linkages and in the instance of the customer interest or otherwise can easily be procured through the Goldsetu platform. This will not only minimize the working capital investment but also reduce the risk associated with the procurement process. All the jewellery procured through the platform will be hallmarked and comes with Goldsetu quality promise.

Commenting on the launch Mr. Vikas Verma, Co-founder & CEO, Goldsetu said, “Our vision is to equip our jewellery partners with all the necessary tools and expertise to help them compete against the organized retailers and remove any friction hindering their growth. Access to the latest design backed by a trustworthy and transparent procurement channel is one such hindrance that we are looking to remove through our virtual inventory platform”.

Adding to it Mr. Anuj Sachdev, Co-Founder, Goldsetu said, “Unorganized jewellery retailers are facing increased competition from organized players., who are eating into their customer base by providing better customer engagement, innovative solutions, and better designs. Goldsetu platform will help unorganized jewellery retailers deliver trust, transparency, and a better value proposition for their customers.