Technology giant IBM on Wednesday said it will help jewellery retailer Joyalukkas deploy a cloud ecommerce platform in 11 countries later this year.
The jewellery chain, which runs 160 showrooms globally, will utilise IBM’s solutions to handle daily price fluctuations and draw insights from shopping patterns, a statement said. It can also recognise its target audience and provide country-specific experience for customers, it said.
Additionally, IBM's product configurator is expected to allow Joyalukkas to automate creation of stock keeping units (SKUs) for easier inventory management.
“Our brick and mortar stores are spread across many countries. However, a strong online presence will help us extend our reach to every nook and corner of the world,” Joy Alukkas, chief managing director of the Joyalukkas Group, said.
The cloud enabled platform, built on Adobe’s ecommerce suite Magneto Commerce, will offer the jewellery chain better scalability and agility, and be integrated into Joyalukkas’ existing enterprise resource planning (ERP), customer relationship management (CRM), inventory management and other systems. It will also help the company automate orders and inventory across channels, the statement said.
Additionally, Joyalukkas will engage with the technology company’s business design unit, IBM Ix, to create a roadmap for its digital journey.
IBM will utilise a host of application programming interface (API)-based plug-ins from Magneto Marketplace for additional features.
A July 2020 Ernst and Young report showed that India is one of the fastest growing jewellery consumption markets in the world, with a market share of about 29%. The gems and jewellery sector, it said, is expected to grow to $103.06 billion by 2023.