Harnessing Technology

Dibyendu Baral, Chief Technology Consultant at Senco Gold & Diamonds, tells The Retail Jeweller how AI integration and ‘SencoVerse’ are enabling the jeweller to offer customers an exceptional e-buying journey.

Maithili Patange (MP): Can you provide a specific example of a successful digital transformation at Senco?

Dibyendu Baral (DB): A significant example of digital transformation at Senco is our focus on user interface and experience in our digital commerce platform. We have integrated AI for better product recommendations and faster checkouts. Our platform, MyDigigold.com, with over 1,00,000 registered users, allows customers to buy gold for as little as Rs. 400. Additionally, we have automated 20 per cent of stock replenishment.

“We have integrated AI for better product recommendations and faster checkouts. Our platform, MyDigigold.com, with over 1,00,000 registered users, allows customers to buy gold for as little as Rs. 400”

– Dibyendu Baral, Chief Technology Consultant at Senco Gold & Diamonds

MP: What strategies have you implemented on your e-commerce platform to improve user experience and customer journey?

DB: A key initiative is Sencoverse, our metaverse platform, which showcases jewellery in a virtual environment. It offers a comprehensive shopping experience, allowing customers to browse a virtual showroom and have items delivered. Featuring over 100 products in 3D and a Try On feature using augmented reality, Sencoverse targets digitally savvy consumers such as Gen Z and modern millennials.

MP: Which technology partners are you collaborating with for your e-commerce facility?

DB: We prioritise standard solutions from reputable companies. Our partners include Salesforce, Google, AWS, Cisco, and Seqrite for cyber security. We also use AI-enabled simulators for stock optimisation within our ERP system.

MP: What technological advancements have you implemented in your supply chain management?

DB: Supply chain management is vital to our operations, and we use Microsoft Dynamics 365 for its robust features. We employ algorithms to optimise stock availability and accurately forecast demand. Our ecosystem includes customers, artisans, subcontractors and vendors.

MP: What are some significant technological challenges you have encountered in maintaining and growing Senco’s e-commerce platform and brand?

DB: Selecting the right solutions and vendors proved difficult, leading to some abandoned projects. Change management was another issue, as staff needed training to adapt to new technologies, such as multi-factor authentication. User feedback is crucial for technological decisions, but gathering it can be challenging. These challenges were only overcome as users became accustomed to the new systems.

MP: Could you explain the impact of these technological implementations?

DB: Since implementing these technologies, we have seen improved brand performance, with increased stock turns and reduced stock-outs and overstock situations.

MP: Which emerging technologies will significantly impact the jewellery industry in the next 5 to 10 years?

DB: The pace of change has accelerated, particularly since 2018 and post-COVID. The continued evolution of generative AI has significant potential in our industry. Additionally, 3D printing will become more accessible to retail, allowing for customised jewellery production. The metaverse is also gaining traction, emphasising the need for data-driven decisions.

Written by Maithili Patange