“Price volatility of gold will push value chain for excellence”

The jewellery industry of UAE should brace for positive market behaviour, provided they have steady support of advancing tech-based processes that Suntech provides. Rahul Sood, Group Managing Director, Sun Multinational, speaks with Retail Jeweller World on this matter.

1. The Retail Jeweller (TRJ): In the last 5 years, how has technology helped you to enhance your business?

In the last 5 years, Suntech has helped us improve our accounting system, operations and inventory control. Delivering instant results through product analysis is another way by which Suntech has helped Sun Multinational in retail.

TRJ: How has Suntech’s technology helped you in improving your processes and sales? Are there specific instances that come to mind?

Suntech has helped us with their accounting, sales and reporting processes, and thus is a complete package. In terms of price volatility, correct reporting helps us decide the rates and that has been a delightful experience from Suntech.

TRJ: How would you advocate Suntech’s product portfolio when it comes to a retailer’s holistic improvement — both at the front end and back-end?

We have been using Suntech ever since we started jewellery retail in 2018. Both in terms of front end and back end, we receive constant technological support in terms of customisation required. Suntech is also on par with changing demands of jewellery retail in Dubai and EED. Aligning processes with the markets, Suntech is streamlining the value chain for us.

TRJ: What is your vision for the jewellery industry for 2025? What is your message to your fellow jewellers?

The volatility of gold price is creating interesting scenarios for the global gold jewellery supply chain. I think we are ahead for some very positive times for the jewellery retail industry.

I’d like my industry peers to stay put in their best practices that we follow as part of UAE’s trusted jewellery sector to get qualitative returns over time. E-commerce and M-commerce are increasing its importance in consumers’ choice of platforms of late through apps and we are in the process of starting an e-commerce platform within Sun Multinational, hoping to integrate that with Suntech soon.

Courtesy: Retail Jeweller World News