We buy almost everything online, unless it comes to jewellery, due to the essential need of that touchy feely in-store experience.
“how will this ring fit my hand proportions?”
“and how will it look on my skin color and texture?”
Such users' high uncertainty and low confidence results in very low conversion rates for jewellery retailers: 0.75% in the jewellery vertical vs ~3% cross-industry average.
GemSight is bringing the touchy feely in-store experience to online shopping of jewellery and watches.
GemSight is aiming to improve users' confidence and reduce cart abandonment by offering a virtual try-on (VTO) service in which users can easily examine the jewellery-body fit using their mobile device.
Click here to view our product mock-up.
The jewelry and watch ecommerce vertical is expected to double within the next 5 years reaching $16B by 2024 in the US alone!
Considering the effect of VTO technology on the eyewear vertical, GemSight can drive additional ~$3B in sales for jewelry and watch ecommerce businesses in the US.
Unlike other VTO services, GemSight is focusing on providing the closest try-on experience to being in the store as you can get, by enabling 3D inspection of jewellery-body fit from all angles and positions. This will enable customers to see the finest details of the jewellery while trying it on virtually.
STATUS AND MILESTONES
Formed a founding team.
Market and competition research.
Technological risk assessment.
In-depth interviews with 5 jewellery businesses.
Currently working on:
Building an MVP.
In the process of onboarding 3 design partners and piloting within 3-6 months.