The internet is a marketplace where you can find whatever you might be looking for. Jewelry is just one of the many articles merchants sell successfully through eCommerce platforms accessible via the internet. Statistics show that about 29 million people buy jewelry daily, hinting that the ornaments market is flourishing. eCommerce businesses have seized this opportunity by opening up their online jewelry stores.
The market share for jewelry is bound to grow at a stable rate in the future due to digital advancements and the increased shift of customers to online shopping. While many factors contributed to buyers making this transformation, the pandemic is the vital driving force. The fashion industry is a gigantic sector comprising minor segments like bags, shoes, hair accessories, ornaments, etc. Pop culture similarly plays a vital role in influencing the fashion taste of adults as they want matching shoes and accessories that go with their stunning outfits. So is the sway of Instagram influencers. Teens today want to look like their Instagram idols. It is one of the major causes behind the boom of the jewelry business in the global market.
Whether you are selling small trinkets or customized handmade jewelry pieces, you can find sufficient resources online to help you make your business a huge success. Besides the contemporary reasons mentioned earlier, jewelry also has a rich cultural background. Jewelry is a precious, timeless commodity that has helped the queens of ancient Egypt to the present-day American teens express love, gratitude, identity, and uniqueness.
Another notable aspect of jewelry is its inclusivity. Regardless of gender, caste, or creed, anyone can wear them. Cultural evidence from Ancient India has shown how the royal family members, both men, and women, wore heavy and intricately designed ornaments. Therefore, the importance of jewelry is deep-rooted in civilizations worldwide, and it continues to grow in the modern world.
Thinking about starting to sell jewelry online?
Reasons to Sell Jewelry Online
It is the first impulse for shoppers to look things up online before buying them. The internet has created a separate niche for customers to shop whenever and wherever at their own pace.
1. Global Pandemic
Since the beginning of the COVID-19 pandemic two years ago, humans have had to make several obligatory changes to their lifestyle to protect themselves from the virus. Instead of stepping out of their homes to shop, people shifted to buying jewelry and clothes online. As for merchants, most of their brick-and-mortar stores had to shut down, and migrating to eCommerce was the only alternative to save their business. A recent survey cited that there had been a 40% hike in the eCommerce business ever since the pandemic started.
2. Less Expenditure
Starting an online store is way more economical than opening up an offline store. The cost of opening an online store is minimal as it does not involve expenses incurred in hiring heavy work staff, renting or leasing charges, machinery, decorations, electricity, etc. You can utilize the saved costs to buy devices and extensions that enhance your online store. Instead of managing costs and mundane governance tasks, you could focus solely on selling your jewelry online.
Choosing to start your own business online is a boss move, considering the challenges one faces during the pandemic to maintain a physical store. Add to it the tremendous loss that has to be incurred in case the business plummets. Beginning online gives a merchant the leverage to start small and work the way up the business ladder. The expansion could be planned based on the profits made and the product market. During a pandemic where customers think twice before making a purchase, it is easier to entice them with offers, membership discounts, and referrals through an online store.
4. Connect to a Wider Audience
Launching an eCommerce store connects you to a global audience. It is nearly impossible to find a person who doesn't use the internet. You can target audiences based on location, preferences, and buying patterns through pop-ups, social media advertisements, etc. Opening up an online store for your jewelry also adds credibility to the brand's reputation. People tend to google a brand immediately after hearing good reviews about their products. If your online store has an excellent SEO ranking and relevant content, it will expand your consumer base and increase the conversion rate.
5. Targeting Impulsive Buyers
The pandemic has brought about a segment of shoppers who purchase things as a stress buster. Working from home and lockdowns make them have nothing much to do recreationally. They wind up shopping as part of stress relief. Most often than not, they will settle for pretty, tiny, affordable things that give them joy. And jewelry fits right in that slot. It is one of the commonest commodities that buyers tend to hoard to satiate their desire for shopping.
6. Security and Savings
Brick-and-mortar stores are always at risk of getting burglarized, especially if you are in the business of selling precious metals and gemstones. Insurance companies don't always follow through with their claims. Factors like these make running an offline jewelry store a risky affair. Shifting to an online store will significantly reduce such incidents. Your bank receives online payments, and consequently, any revenues received go directly into your account. It saves you the trip of personally going to the bank and depositing large sums of money at the hazard of getting robbed.
Jewelry Market Research - Trending Jewelry Niches
The expansion of the jewelry market has led to an increase in competition. Brands are investing in technological innovations to enhance their store to heighten their jewelry sales. The cut-throat competition has given rise to a myriad of jewelry market trends.
1. Engagement and Wedding Jewelry
When one thinks about jewelry, a ring is the first article that pops up into anyone's head. For the high and mighty, a trip to Tiffany's during the wedding time is a given. For regular folks, buying finger rings for special occasions is unavoidable. It is part of our culture and identity. Couples seldom go out to shop for rings these days when they can sit together and browse through online catalogs to find the best fit for them on the internet at steal deals. Irrespective of the date and time, this is one object among jewelry that will always be in demand.
2. Fast Fashion Jewelry
This type of jewelry is a craze, mostly among young shoppers. It includes jewelry such as necklaces, rings, pendants, bracelets, etc. that tend to go in and out style rapidly. They are mostly made out of inexpensive materials that lower their quality and longevity. For instance, silver replaces platinum, and a copper alloy is used instead of gold. The lower manufacturing costs make them highly affordable to people who religiously follow jewelry trends or those who love to make a fashion statement by accessorizing. Social media influencers on platforms like Instagram and TikTok play a leading role in deciding the tone for such fads. Customers and merchants also keep track of fast fashion jewelry rage through young adult and teenage magazines like Marie Claire, Seventeen, Vogue, and Cosmopolitan.
3. Plated Jewelry
This category is for enthusiastic shoppers who adore the look and feel of high-end jewelry but don't have the capital to afford it. They look for alternate options like plated jewelry with a core of affordable metal and an outer coating of precious metal. This way, they get to enjoy wearing expensive-looking jewelry without shouldering the hefty price tag. Examples of plated jewelry include nickel or sterling silver coated with pure silver or 14K gold. Merchants are responsible for being 100% transparent with their buyers as customers may be allergic to certain non-precious metals. To avoid losing credibility and ensure a sense of safety, business owners should mention essential product details on their website.
4. Vintage Jewelry
Vintage Jewelry has a unique, elite segment of buyers. They are more popular with antique or jewelry collectors and entrepreneurs who consider them investments. Their buying pattern includes collecting or purchasing historical items from the olden times. Vintage jewelry pieces are popular due to their timelessness and rich past. They make a statement in the fashion industry through their unique appeal. The ornaments are second-hand, which means each piece has its own distinctive story relative to the original jewelry designer, previous owners, and the historical era of creation. They are testimonials of the craftsmanship and cultural heritage of their respective periods, and owning one of them becomes a matter of pride. These stories contribute to increasing the value of the article. The pricing of these items differs based on age, finesse, and history.
5. Body Jewelry
This new market has given a lucrative opportunity to jewelry merchants to expand their product line. There has been a hike in body piercing among the regular population. Body jewelry goes hand in hand with body piercings like belly button rings, tongue rings, eyebrow rings, nose rings, septum rings, lip rings, and the like. As the examples suggest, body jewelry is more intimate than basic ornaments like bracelets and earrings. Body jewelry comes in different designs, shapes, and sizes. Also, the prices change as per trend and materials used in manufacture. Shoppers tend to consider their health, preferences, piercing placement, and comfort level before buying body jewelry. Apart from jewelry for piercings, there is another segment of body jewelry, including clip-on jewelry, body chains, waist chains, leg chains, midi rings, leg chains, toe rings, palm cuffs, and such that people wear to look 'cool' and in trend.
6. Handmade Jewelry
Small businesses generally sell this type of jewelry as it could be customized to buyers' preferences. Since it is a made-to-order jewelry entity, it can take considerable time to create. The vendor puts in the time and effort to handcraft the jewelry from scratch. Hence their pricing may be higher than fast fashion jewelry. The fashion industry procures tons of weight every year, and by encouraging small businesses that focus on making your jewelry with their hands, customers can reduce wastage. Quilling is a well-known technique used by most jewelers to make handmade earrings and necklaces. Upcycled or recycled jewelry, cloth jewelry, shell ornaments, etc., are more examples.
7. Ethical Jewelry
Gen Z shoppers are more socially conscious when compared to previous generations. They feel morally obliged to make conscious purchasing decisions like buying from environmentally sustainable and socially responsible brands. For instance, partners hire people ethically and make sure to pay them the bare minimum wage. Fast fashion usually exploits workers from third-world countries, also engages in child labor activity while paying them less than the set minimum wage under unsafe working conditions. This is one reason why they can afford to sell their products at cheaper rates. Many famous brands have been called out or 'canceled' on social media concerning such controversies. With the increase in awareness of sustainability and ethical brands, a notable segment of customers choose ethical jewelry.
8. Fine Jewelry
This category includes expensive, rare metals and gemstones with intricate jewelry designs. Businesses deliberately make them in exclusive, limited stock, so their value shoots up, therefore, making them a valuable investment. Shoppers who can afford to splurge a good amount of money tend to buy fine jewelry. Its rare craftsmanship and materials ensure lifetime longevity. It is one of the reasons why fine jewelry ends up becoming a family heirloom passed down generations. The affluent society collects fine jewelry while regular customers might purchase a couple of pieces during their lifetime. Diamond jewelry, ornaments in platinum or gold encrusted with precious gemstones, pearls or beads, etc., are examples of fine jewelry.
Expand your homegrown business into a full-fledged eCommerce jewelry business?
Steps to Sell Jewelry Online
Are you interested to make maximum profits by selling your jewelry online? Here are some steps you can follow to attain the objective.
Fashion is a fluid industry. It, therefore, becomes imperative to update yourself constantly to stay on top of trends. You can add or remove products from your website based on the swinging trends. The trendier items you have, the more your engagement and sales rates. One way to learn about the latest trends is to follow jewelry blogs. Diamonds in the Library, Gemologue, and Gem Gossip are incredible blogs written by experts detailing different aspects of the jewelry world. You will find all relevant information in these blogs ranging from the latest trends to interviews with top-notch jewelry and fashion designers. You can also utilize Google Alerts to update you on the newest jewelry trends. Just type jewelry trend and other related words as the keyword, and the search engine will mail you articles that include your keyword. Instagram is the most accessible jewelry trendsetter. You could follow popular jewelry blogs or fashion influencer accounts to get an idea about the most happening trends.
2. Contact Jewelry Suppliers
If you aim only to sell jewelry online, you need a reliable jewelry supplier. You will also need to decide if you are looking for a manufacturer, drop shipper, or wholesaler. You can find suppliers on online marketplaces or Google searches based on your requirements. You will notice that a lot of manufacturers are from China. Order samples from your jewelry supplier before making any professional commitments to maintain quality assurance. Furthermore, decide on details like shipping, cost of buying, duration of the contract, etc., and compare with other suppliers to choose the suitable one.
3. Launching Your Store
It is perhaps the most complicated and crucial step in the process. You must first select an eCommerce platform to open up a store online. SaaS-based eCommerce platforms like WooCommerce, Shopify, BigCommerce, and Wix are ideal for opening up an online jewelry store. Each platform has its set of tools, extensions, and advantages, so pick the one according to your business and personal requirements. Make sure your store falls under one of the favored jewelry niches to keep your store organized and accessible to customers. Add high-quality product images, descriptive product details, and relevant content to your store to improve SEO ranking. Deals and coupon codes will help in attracting more customers.
4. Pricing the Products
Pricing your jewelry is a tedious process. You must ensure to price your product right as too high prices can put off customers, and too low prices will drive your business down. A general rule of thumb is to price the items four times more than the total material and packaging costs. Jewelry suppliers, technological improvements, and other things take up at least 40-60% of your retailing costs. Pricing the items four times more will ensure you don't lose any money and make a decent percentage of profits. Shipping costs are additional expenses. You can waive shipping costs for your customers if they order above a specific price limit. It will encourage the customers to shop more from your brand.
5. Marketing and Advertising Campaigns
Now that your online store is up and running, it's time to market your products on the internet. Curate an email list to send subtle promotional emails to potential customers. Add promo codes or discount codes to persuade them to make purchases. Create an account on social media platforms to advertise products. Collaborate with micro and famous influencers to market your products to their following list. Influencer marketing is a hot new trend. It's a mutually beneficial contract that the influencer and brand agree on. You can also market your products through paid advertisements and pop-ups on jewelry blogs.
eCommerce Platforms to Sell Jewelry Online
eCommerce platforms help you design your online store from scratch. It has numerous automated features that aid in managing your store. It is more cost-effective to sell jewelry through your store than online marketplaces like Etsy or Amazon. Here are the top 5 eCommerce platforms you can choose from to launch your online store.
1. Create a Seamless User-experience with WooCommerce
The customer is shopping for jewelry from an online store because they expect the utmost convenience. WooCommerce has a range of themes and templates that increase the page's appearance and make it easier for visitors to navigate through the website. WooCommerce comes with improved tools and extensions that further help determine the store's design. Offering flexibility to your customers regarding website navigation, checkout process, etc., WooCommerce will help you curate an optimal user experience.
2. Sell Expensive Jewelry with Magento
Shoppers need to trust your brand to purchase expensive products from your online store. It means ensuring the security of sensitive customer data and facilitating safe transactions. Magento has a robust inbuilt security system that addresses all the safety concerns of the buyer and seller to make room for fair trade. It frequently releases security patches for payment gateways to protect it from hackers and fraudulent payments. Other security systems include the Magento Firewall, launching HTTP, implementing secure OWASP or Open Web Application Security Project. You may also add additional extensions to increase the security of your online store.
3. Add High-quality Product Pages with BigCommerce
When selling items like jewelry, eCommerce businesses should satisfy customer curiosity. They need detailed, optimum-quality product images from all possible angles. Patrons will engage with vibrant and extravagant pictures of jewelry, positively impacting the website's SEO ranking. BigCommerce allows merchants to add product descriptions and a direct checkout button to increase the company's sales organically. To further amplify the aesthetic appeal of your product page, you can customize it through free themes offered by BigCommerce.
4. Customize Your Storefront with Shopify
Shopify is the best eCommerce platform for small businesses. It equips you with different abilities that let eCommerce business owners customize their storefront from scratch to make it suitable to sell jewelry. It has readily available shop themes to design your store in a few minutes. There are thousands of add-ons available on the internet to improve the appearance and performance of your online Shopify store. It also has an efficient checkout process that's proven to decrease the rate of your store's abandoned cart significantly.
5. Advertise Your Handmade Jewelry with Shift4Shop
Shift4Shop is an easy-to-use platform that requires little or no coding knowledge. It decreases the cost of hiring a developer to create your online store. Shift4cart lets you set a minimum or maximum order for each piece of handmade jewelry. It also allows customers to bulk order from your store. Handling handmade jewelry can be tricky because of its fragility. However, Shift4shop enables you to choose and integrate any shipping method of your choice to the official storefront.
6. Hassle-free Jewelry Order Management with WixWix provides top-level omnichannel experience with the help of an efficient order management system. It has an organized design that handles demand, supply, and retail distribution in one place. It helps you keep track of your orders and inventory. It also provides you with essential information that will aid you in enhancing your online business. Wix also performs chores such as improving stock visibility across the supply channels, tagging jewelry with a unique identification number, analyzing profit margins, etc.
Confused about which platform to employ for your jewelry business?
Best Practices for Designing Your Jewelry Product Pages
1. Choose an Attractive Layout
The layout of the page determines its base design. Aim to choose a page layout that's attractive yet elegant. Too many designs are distractions and a terrible idea for jewelry websites. Opt for clean colors like off-white, grey, or neutrals. Ensure your page is free of excessive banner ads, pop-ups, and links.
2. Responsive Design
Your online store should be mobile-friendly. Consumers use their smartphones to buy necessities like groceries and luxury items like jewelry. Therefore, it's vital to ensure that your online store is compatible with all mobile phones. Search engines like Google use mobile-friendliness as a critical SEO ranking factor.
3. CTAs and Images
Since consumers can't feel the product, they rely on the images uploaded by the customers to judge their quality. While selling items like jewelry, you must add supreme quality images on hot product pages. Business owners should also add one or two CTAs or motivational pictures on the page to encourage customers to buy the articles.
Tips to Optimize Your Jewelry Product Page to Boost Sales
1. Focus on Your Brand
Most shoppers visit your website through landing pages. Some don't make it to the home page to know your brand and what it sells. Optimize all your web pages to highlight your company. This way, the customer can figure out the details of your eCommerce business by just skimming through the pages. It builds a positive brand reputation motivating customers to start shopping immediately.
2. Product Descriptions
Since you are not physically present to market your jewelry or explain the intricate details, customers rely on your product descriptions to do the same. Ensure to write creative product descriptions that humanize the jewelry. It will help customers build an emotional connection with your product, ultimately inspiring them to make it their own.
3. Video Content
Video content has the highest consumption rate than other forms of content. 90% of shoppers report that short product videos have encouraged them to buy the article. eCommerce business owners can hire professionals to curate a video advertising their jewelry. It can be added after the product images or even posted on social media as part of advertising campaigns.
Creating a Marketing Strategy to Sell Jewelry Online
1. Social Media
Building a solid social media presence is essential to implement marketing strategies to sell jewelry online. Social media apps like TikTok, Twitter, Instagram, and Facebook are ideal for advertising jewelry. You don't have to open an account on all platforms at once. Instead, choose the best option and focus on building that account for better optimization. Use hashtags, video content, dynamic pictures, and music to enhance your campaigns.
An email newsletter helps reach potential customers and convert them into buyers. It can be released bi-monthly/ monthly or bi-weekly/ weekly. It should contain the latest information about your online stores, such as newly launched collections and updates from the jewelry industry. At the end of the newsletter, add a referral or discount code to persuade the reader to buy something.
3. Content Marketing
Content marketing and SEO are part of a robust marketing strategy. Hire experts to develop written videos and images for your jewelry store. It will help in improving the engagement and conversion rate of your business. Implement best SEO practices to ensure your store has increased visibility on search engine result pages. Targeted and relevant keywords also boost your SEO rank on Google.
Consider trying your luck starting a customized online jewelry store
Finals Thoughts on Selling Jewelry Online
Precious metals still represent wealth, power, and status in our society. According to statistics, the fashion jewelry market value reached approximately $60 billion in 2021. So if you are planning to get into the jewelry business, there is no better time than right now. The market share and consumer base for shopping jewelry online will grow in the upcoming months or years. Furthermore, the increase in technical support by eCommerce platforms has empowered merchants to expand their business exponentially. This blog is a comprehensive guide that entails all details you will need to start or grow your online jewelry business.
Selling Jewelry Online - Frequently Asked Question (FAQs)
Can you make a profit by selling jewelry online?
Yes, selling jewelry online is significantly profitable. Jewelry is a crucial accessory in the fashion industry, and its demand continues to grow. This multi-billion dollar industry is estimated to be worth more than 277 billion by 2027. You will have ample bandwidth for selling jewelry in the marketplace.
What kind of jewelry can I sell online?
eCommerce business owners can sell any type of jewelry online; the varieties are limitless. For convenience, the jewelry sector can be divided into eight categories: Engagement and Wedding, Fast Fashion, Vintage, Plated, Handmade, Body, Ethical, and Fine Jewelry. You can also sell specific necklaces, rings, bracelets, or earrings.
Is it better to sell jewelry through an online store or an online marketplace?
The answer differs from merchant to merchant. In the long run, it's better to open an online store to sell jewelry as it cuts down several third-party expenses. As a temporary gig, online marketplaces are a suitable option if you have enough capital for it. Online marketplaces can be limited to specific locations, while online stores are global.
Where can I source my jewelry?
Finding reliable jewelry suppliers has become more accessible with increasing popularity and demand. You can harness the power of search engines to locate suppliers near you. Merchants also connect with wholesale suppliers through online platforms like Amazon and Aliexpress. You can also employ people to create jewelry for your brand with sufficient resources.
Is dropshipping jewelry a bad idea?
No, it's not. On the contrary, jewelry dropshipping is a fool-proof idea. You don't have to spend a single penny from your pocket for this business. Instead, you gain money by connecting buyers to sellers and shipping it to the consumers. Small jewelry items are easy to send. This factor has considerably increased the growth of the jewelry dropshipping business.
How should I price my jewelry?
Numerous factors contribute to deciding the price of the jewelry. Some of them are the core materials, gemstones used (if any), vintage elements, manufacturing charges, shipping charges, and so on. Ensure that you don't charge an exorbitant amount as it will drive away your customers. You will make a good profit margin with a suitable price with each sale.
Is it better to sell or pawn jewelry?
It depends on your immediate requirements. If you require quick money, pawning your jewelry is better. However, selling your jewelry to authentic brands will ensure you get a fair market rate. Pawnshop owners may sometimes cheat you out of your money. There is the only minimal risk when you choose to sell your jewelry.
How do you persuade consumers to buy your jewelry online?
Figure out your target audience before implementing any marketing or advertising strategies. Next, utilize the power of social media and email marketing to connect with an extensive set of audiences. Offering lucrative discounts on their first purchase or building loyalty programs will motivate the customers to make definite first buys.
How do I sell jewelry on Instagram?
Instagram's brand new feature, 'reels,' has boosted the power of online marketing campaigns. It's a short video of a maximum of fifteen seconds, and brands use it to showcase their jewelry. They also add engaging captions with product details, relevant hashtags, and sometimes discount codes to increase sales. You could also collaborate with popular influencers.
Can blogs help in marketing my jewelry?
Blogs are a vital component of SEO and content marketing strategies. Adding jewelry blogs to your online store will help visitors find relevant and comprehensive information about metals, rare stones, making of jewelry, etc. However, for this strategy to work, ensure you write a high-quality blog with credible data and statistics.