The jewellery industry continues to grow, especially when it comes to selling online. Last year alone, bags and accessories held a 29% share of global internet purchases.
Want to know how to tap into that market? After reading this blog post, you’ll have all the necessary information to build, manage, and market your online jewellery store.
To get started, I’ll cover why and how you should build an e commerce website for your jewellery brand.
Worth $2.7 million in 2018, the U.S. jewellery industry is strong.
The online share of the accessories market reached an all-time high in 2018 at 22% in North America — and is expected to grow 11% by 2021.
To top it off, global online jewellery sales are predicted to reach a market value of $340 billion by 2023, later reaching $645 billion by 2035.
In addition to the data, jewellery is a great fit for e commerce as products are lightweight and easy to ship, come in many variations, and can be customized.
Bringing your jewellery business online lets your customers shop from anywhere at any time and gives your business a competitive edge by bridging online and offline experiences, all thanks to technological advances.
Your customers will constantly be on the lookout for new pieces to add to their wardrobe. In order to make sure you have these new hot items in stock, you need to know about the trends even before the most devout fashionistas!
But, how do you know when new trends roll in? Great question! One way is to follow jewellery blogs such as:
But here’s a pro tip for you: Plug in the keyword “jewellery trends” into Google Alerts for up to date trends. When you do this, Google will help you out by emailing you when a new article pops up including your keyword – nice!
If you’re not making your own jewellery, you’re going to need to find a reliable jewellery supplier. But where do you start? It’s fairly easy to find jewellery suppliers, but it can be a challenge finding a good one that you can trust. First, you need to decide if you’re looking for a jewellery dropshipper, wholesaler, or manufacturer. While the process of finding them is similar, there are minor differences.
You can read more about finding quality suppliers here.
To be honest, it’s going to take more than following a few well-known jewellery blogs and typing in keywords to rank your online store.
A few extra tips to follow are:
It’s also best to do your research and try to get some inspiration from already established dropshipping websites.
It’s easier than ever to build and launch an online store to sell jewellery. Once you have a product and a supplier, you can use one of the following tools to start building your store. All of these tools allow you to either build an online jewellery store from scratch, or add eCommerce capabilities to your existing website.
When setting up a online store for jewellery, style is very important. You want the website to reflect your brand and its messaging. If you’re selling fine jewellery, you want to use a sharp, clean, modern design with slick product photographs.
If you’re selling handcrafted jewellery, you want it to appear more laid-back and bohemian. Think about your audience and customers when designing your website and, if you can afford it, pay for the services of a professional web and graphic designer.
You should also consider offering a range of payment options on your site, including credit card, Paypal, Stripe, and Afterpay. Most of these can be added easily using any of the software above.
One of the toughest decisions you’ll have to make: pricing your jewellery. A good rule of thumb to follow when starting out is to start with four times your material cost and packaging.
Most consignment or wholesale opportunities take up 40 to 60 percent of your retail cost. By starting your base price at 4 times your materials cost will keep you from working for free (or worse, losing money).
Think about whether or not you’re going to charge customers for shipping, too. If so, be sure to add in how much it’ll cost them before they abandon their cart at checkout.
Other questions to ask:
Will you accept returns? What about refunds? What will you do if your jewellery breaks before your customer gets it? Have a backup plan in mind for freak accidents, and you’ll be good to go.
Etsy is the darling of the arts and crafts retail world. It’s the most established and popular eCommerce platform for handcrafted goods. That’s largely because it was the first major breakaway from the likes of eBay and Amazon. It claims to have close to 54 million registered users, 20 million active buyers, and 1.4 million sellers. This was back in 2014, though, so those numbers are likely to have increased. While Etsy looks and feels like a niche platform – the online version of your weekend craft market – it’s really a massive retail force.
Jewellery is perfect for the Etsy platform, especially if you can source or create something unique. You’ll be competing with thousands of other sellers, so you need to do everything you can to stand out. Just be aware of the $0.20 USD listing fee per item, which can add up quickly if you’ve got a large inventory. There’s also a 5% transaction fee.
Ruby Lane is an online marketplace devoted to antiques, art, vintage collectibles and jewellery. It’s the perfect place to sell jewellery online. While Ruby Lane is smaller than places like Etsy and eBay, it has a much more targeted customer base. And besides, Ruby Lane claims to have 1.1 million unique visitors per month, which is a lot more than you’ll get coming through your doors in a traditional retail store. Ruby Lane is also more “high brow” than its competitors, which means you could have more success selling high-end fine jewellery.
Most of Ruby Lane’s users (85%) are women aged over 40, which also happens to be a demographic with disposable income to spend on jewellery. While there’s no commission, Ruby Lane charges $0.19 per listing and a tiered “maintenance” fee that ranges from $69 a month for small sellers, to $0.01 per item for major sellers. There’s also a one-off $100 set-up cost.
We’ve talked about why you should sell jewellery online, how to do it correctly, what to avoid when selling products, and even gave you a few wholesale jewellery suppliers to get started.
I’m afraid that it’s now time for us to part ways. Before we do though, let’s go over some of the most important details when it comes to selling jewellery online.
Now it’s time for you to spread your wings and fly! Or at least, spread your wings and create a kick-ass jewellery store. Have fun and sell jewellery online now!
For more information or assistance in setting up your online store, or help marketing it get in touch here.