M-commerce: New Business Opportunities in the Jewellery Industry

DOI:10.34047/MMR.2020.8202

Abstract

Mobile phones, or more accurately, smartphones, have revolutionized the diamond industry. To gain a competitive edge in India, diamond and jewelry producers, master diamond cutters, and graduate gemmologists specializing in diamonds are using M-commerce to deliver novel customer service choices to their clientele. Electronic commerce, also known as E-commerce, has revolutionized the way people do business. Through electronic systems such as the Internet and other computer networks, traders may buy and sell goods from anywhere in the globe. Many Indian diamantaires and jewellery manufacturers adapted to this approach and profited as a result. Mobile commerce appears to be next on the agenda. M-commerce, or mobile commerce, is billed as the next generation of wireless Ecommerce that eliminates the need for wires and plug-in devices. Handheld gadgets such as mobile phones or Personal Digital Assistants can be used to undertake financial and promotional activities (PDAs). Although not everyone will be interested in M-commerce in the next years, it is expected to develop significantly as more advanced wireless handheld accessories become available. Because it has a global customer, the Indian diamond sector is accepting it more quickly. To fully benefit from M-commerce, diamantaires and jewelry manufacturers should educate themselves on the subject so that they can have the necessary information and implement it in their businesses as needed.