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Small is big in online gold buying

DNAHM74429 | 8/22/2014 | Author : dna correspondent | WC :299

Gold purchase on e-commerce platform is cheaper, says Ketan Kothari, director of Bullion India

When it comes to buying gold online, small seems to be big. Around 40% customers of e-commerce company Bullion India buy one gram of gold. The company has offered 2% discount to buyers during the upcoming Diwali festivals. Gujarat accounts for around 12-15% share in the Rs500-crore gold market on e-commerce platform.
The buying of yellow metal on e-commerce is increasing. The market for online gold purchase was around Rs200 crore two years back which has increased to Rs500 crore, said Ketan Kothari, director of Bullion India.
He also said the turnover of his company is Rs50 crore and the target is to take it to Rs150 crore in the current financial year. Gujarat accounts for 15% of the company’s total business.

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