The jewelry industry has grown by leaps and bounds, especially since the advent of eCommerce. Selling jewelry online has become a staple for most jewelry businesses and a primary source of revenue generation.
In fact, more than 29 million people purchased jewelry online daily in 2018! This staggering statistic alone is a positive indication of the massively lucrative nature of the business of selling jewelry online.
However, this also indicates the highly competitive nature of the business. But that shouldn’t deter you from selling jewelry online.
Whether you’re starting your own online jewelry business or taking your offline business to the web, we’ve put together an informative guide to help you get started.
1. Study Successful Businesses That Are Selling Jewelry Online
Before launching your online jewelry store, it’s best to do some research on the top businesses in this space.
Study two to three businesses that are successfully selling jewelry online and how effective their eCommerce website experience is.
Usually, top-notch online jewelry stores are characterized by slick and user-friendly website design, seamless checkout and payment process, mobile responsive design or app, promotional offers, and high-quality product images and descriptions.
When creating your online jewelry store, study the customer journey offered by the top players in the jewelry space.
An effortless and logical customer journey that begins at the homepage and leads to the product page and then to swift checkout is one that you should replicate on your store too.
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2. Determine What Features You Want To Include In Your Online Store
To set up a successful online jewelry business, you’ll need an online store that ticks all the boxes and provides an exceptional user and brand experience to customers.
Based on the research you conduct of your competitors’ eCommerce websites and the top players’ online stores; you can easily determine what features your online store should include.
Typically speaking, here’s a list of functionalities your online jewelry store should include:
- User-friendly web design to prompt users to stay on longer and to keep them coming back.
- Mobile responsive web design to offer a standard website experience across devices.
- High-quality images and videos pertaining to products.
- Social media integration to allow people to share your content effortlessly.
- SEO rich content with short and shareable URLs for every page.
- A product management tool to enable efficient product showcasing.
- Cross-sell and up-sell capabilities.
- Detailed shipping options with prices.
- High-level security to ensure the safety of customers’ sensitive information.
- Multiple payment options to ensure there are no instances of shopping cart abandonment.
- Clear return policy and FAQ.
Successfully selling jewelry online will require your online store to include these essential functionalities. These functions will offer superior customer experience and will support your marketing efforts.
Furthermore, the inclusion of these functions and features will enable you to better manage your online jewelry brand. It’s well worth the investment!
3. Figure Out What Payment Options You Want To Offer
Ideally, you should offer a host of payment options to your customers. This ensures that every cart is fulfilled, and every transaction is completed.
Lack of payment options will lead to cart abandonments and bad user experience.
Here’s a list of the various payment options you should include:
- Credit/Debit cards
- Cash on delivery (for specific items)
- Apple Pay/Google Pay
- Local payment app integrations (such as PayTM for India market)
Always remember, customers love flexible payment options and every customer is comfortable using different payment modes.
Which is why it is critical to include an assortment of payment options.
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4. Identify An eCommerce Platform or Store Builder For Your Business
A major determinant of eCommerce success is based on which eCommerce platform you use to build your online store.
Bringing your online store to life is a cumbersome task and one which requires the backing of a dynamic and flexible platform.
While every business has different requirements, there are a few fundamental needs that all eCommerce businesses need in order to sustain and succeed. Your eCommerce platform should:
- Support all your website’s core functionalities and requirements.
- Provide for multiple API integrations and a large number of API calls.
- Offer PCI compliance.
- Accept various essential plugins such as social media integrations which are critical to run your online jewelry store successfully.
Top eCommerce platforms include Shopify, BigCommerce, and WooCommerce.
5. Determine How You Will Carry Out Shipping and Fulfillment
As an eCommerce business, you will need to figure out how you plan to carry out shipping and fulfillment of orders.
Start by choosing a carrier, preferably one that provides shipping services, that suits your business’s requirements.
While you can consider managing shipping and fulfillment on your own, it will considerably add to your operational cost. Not just that, these tasks will also add a thick layer of complexity in terms of execution.
On the other hand, you can adopt cost-friendly options such as dropshipping or hire a third-party logistics company to fulfill your orders.
Another important factor to keep in mind is how you plan to package your jewelry. Off lately, the way you package your product is regarded as an extension of your brand experience.
From eco-friendly packaging to superior unboxing experiences, online brands are investing a major chunk of their efforts towards customized packages and superior packaging experiences.
6. Create A Strong Marketing Plan
Having a strong marketing plan that builds your brand and offers customers a sense of trust is essential for selling jewelry online.
Your marketing plan should include both online and offline tactics that help to build a wholistic jewelry brand.
Your jewelry business should ideally have a marketing plan that covers the following:
- Social Media Marketing
- Organic/SEO Marketing
- Email Marketing
- Content Marketing
- Experiential/Event Marketing
All your marketing endeavors, especially social and paid marketing, should have strong performance tracking capabilities assigned to them.
While many vanity metrics are given high priority, KPI’s or Key Performance Indicators should be part of all your marketing tactics.
Here are the primary KPI’s that your jewelry business’s marketing plan should include:
- Total pageviews.
- Unique pageviews.
- Active users.
- New versus returning users.
- Bounce rate.
- Landing page exit rates.
Your marketing plan and the way you execute it and keep track of it plays a vital role in the success of your online jewelry business.
Selling jewelry online is surely a profitable business, however, it is one that requires precision and investment of time and resources to perfect.
And while your online jewelry business will take time to compete with top players and churn out massive profits, the points mentioned above will help you kickstart your business.