"Jewelry is the one thing that has the power to make you feel unique", said Elizabeth Taylor. And that is why 29 million people bought jewelry online every day in 2019.
The global jewelry industry is valued at $222.85 billion in 2020 and is expected to hit $347.530 in 2026. McKinsey claims that online sales account for only 10% of global jewelry sales. The online jewelry market is ripe and quite unexplored. It is time for you to dive in and grab your chunk. Do this by starting to sell jewelry online. And this is how you do it.
This blog shows you how to sell jewelry online with success.
Why should you sell jewelry online?
"Of all things, should I sell jewelry online?" - this is your question and the right one too. But here are the reasons which will convince you to sell jewelry online.
- Jewelry business is profitable with margins ranging from 25%-75%.
- It is lightweight and hence easy to ship.
- Jewelry is available in different types - gold jewelry, diamond jewelry, platinum jewelry, etc.
- Diverse styles exist in jewelry like fine jewelry, antique jewelry, modern jewelry, fashion jewelry, designer jewelry, etc.
- Jewelry, as a product, is ideal for e-commerce due to its multiple variants and universal demand. That is why online market places like Amazon, Etsy, and eBay have started selling jewelry in their online stores.
- Customers who shop for jewelry wish to have a wide range of options in style and price. To meet this demand, e-commerce is the best platform to build your jewelry business on.
- People wish to create their own designs in jewelry. This customization is best when the jewelry business is done online.
- In jewelry shopping, customers pay more attention to the shopping experience. Technology helps us to merge online and offline experiences to boost your jewelry business.
- In jewelry, designs are crucial in making the purchase decision. Online jewelry stores offer you the best of designs from every nook and corner of the world.
All the above reasons substantiate the need for you to sell jewelry online. Build your online jewelry store on an e-commerce platform like Shopify or Woocommerce. Link your e-commerce website to your social media accounts to promote it. Watch the orders roll in as you begin to sell your pieces of jewelry online with success using our useful pointers.
12 steps to sell jewelry online with success
Jewelry business is fluid, fluctuating yet full of promise. Now that you have decided to start selling jewelry online, it is time to outline the steps to take before you establish a successful online jewelry store.
Section 1 - Do your research
Section 2 - Decide where to sell your jewelry online
Section 3 - Outline the features you need for your online jewelry store
Section 4 - Choose your e-commerce monthly plan
Section 5 - Decide the domain name of your online jewelry store
Section 6 - Deploy your online jewelry store
Section 7 - Find jewelry suppliers to stock your online jewelry store
Section 8 - Organize inventory control, order fulfillment, and shipping on your online jewelry store
Section 9 - Fix the price for your pieces of jewelry
Section 10 - Integrate payment gateways to your online jewelry store
Section 11 - Launch your online jewelry store
Section 12 - Promote your online jewelry store
1. Do your research
It is always wise to test the water before you take a dip. Yes, and this is true of the jewelry business too. First, make background research of the jewelry industry, its online segment, the online marketplaces where they are sold, etc. Also, analyze what types of jewelry are sold online and which ones are most sought--after. It is wise to know who are the major market players, what they specialize in, and how they do it. Here are some snippets of such background data for you.
Only 10% of the global jewelry market is catered by the top 10 brands. Of this, only Cartier and Tiffany feature on Interbrand's top 100 list. Apart from this, the jewelry business is primarily local when it comes to counter or store sales. Local brands dominate the jewelry business in their regions like Wempe and Bucherer in Germany, Chow Tai Fook, and Tesiro in China, Mikimoto, or Tasaki in Japan, Harry Winston, and Graff in the U.S., etc.
Now, with jewelry entering the e-commerce arena, many players have gone global. Jewelry buyers know that De Beers is the best for diamond jewelry and that Ruby Lane is a great place to buy antique jewelry or vintage heirlooms.
Now, after assimilating this, check out which jewelry e-commerce websites rank best on the search results. Study the aspects of their design and functionality. E-commerce websites like Lovoda, Judith Bright, Dogeared, YCL, etc. showcase jewelry in an eye-catching manner.
By Charlotte, Ana Luisa, and Vrai are some of the best Shopify Jewelry Stores that are both well-structured and have a great shopping experience.
2. Decide where to sell your jewelry online
To establish your presence online as a jewelry seller, you have to find or create your own space. This could be
- Your Own Online Store for Jewelry built using robust e-commerce platforms like Shopify or WooCommerce.
- Online Marketplaces like Amazon, Etsy, eBay, etc.
- Social media platforms like FB, Instagram.
Your Own Online Store for Jewelry
Having your own online store is the best way to begin and build your jewelry business because
- It is a professional approach as you establish your own brand identity and create your own customer base.
- It gives your complete control over your online store's design and functionality.
- It makes you stand out among the rest of jewelry sellers.
- With its dedicated customer base, you can expand your online store both vertically and horizontally.
The only reason why people hesitate to create their own online store for jewelry is that they lack the experience and think it is difficult. But not anymore when you have professional e-commerce platforms like Shopify allowing you to build your store on your own. Its DIY store design aspect allows you to use its free templates and apps to integrate all the e-commerce features your online store needs.
People often choose online marketplaces like Amazon, Etsy, eBay, etc because
- You just have to register on the online marketplace and start selling.
- The online marketplace handles order fulfillment and even product delivery and shipping.
- Amazon, Etsy, or eBay are highly-popular by themselves and bring in millions of customers to their site. All you have to do is grab as many as you can with our price, product, or feature uniqueness.
Everyone knows Amazon, Etsy and eBay. Let us take a quick look at some unique online marketplaces that are different from these.
RubyLane is all about vintage items and premium collectibles. The pieces of jewelry sold here are rare, unique, and one-of-a-kind. This jewelry store deals with special products in vintage, artisan, antique, handmade, art-deco, and estate varieties.
Catering to high-end and elite customers, RubyLane boasts of 1.1 million visitors per month. To sell on RubyLane, register here and start selling by listing your products. There are no setup or listing fees, but you have to pay service and maintenance fees depending on the number of products sold.
85% of Ruby Lane's customer base is women aged 40+ with extra money to spend on jewelry. So, if you plan to sell vintage or fine jewelry to high-end customers, welcome onboard Ruby Lane.
Worthy is a site where you can sell your diamond jewelry and fine jewelry worth over $1000.This is the minimum value Worthy accepts. It is like an online auction site where your jewels are old off to jewelry buyers from all over the world.
To sell on Worthy, submit its product description on their site with full detail. Worthy will then pick it up through an insured carrier like FedEx or UPS which can be tracked. When Worthy receives the item, it sends it for an appraisal by the GIA-Gemological Institute of America. If you approve Worthy's estimate, the auction is arranged and the item is bid and sold. You get the payment through PayPal within 24 hours.
Worthy is known for its transparency, quick payment, security, and superb customer support with live chat. What more, you get a certified appraisal from GIA at no extra cost which is more than you can ask for.
There are other such online marketplaces like Bonanza, Chairish, etc. But think twice before using them as the sole platform to sell your jewelry.
The downside to selling on online marketplaces is stiff competition, no branding, lack of loyal customer base, etc. Over and above all, there is the monthly listing and transaction fees.
Usually, small jewelry sellers prefer to sell on online marketplaces. Major players and sellers who plan for the future prefer to build their own online store.
Social Media Platforms
If you want to reach out to a wide audience without spending much money, using social media is the right option. But here again, lack of branding, need for constant posting and campaigns, and limitations in the design are the drawbacks here.
Social media can be an added thrust to promote your online store. It cannot be the sole option to sell your jewelry online.
VERDICT - The right way to start your online jewelry business is by creating your online store. Build your online jewelry store using an e-commerce website builder like Shopify or WooCommerce.
Benefits of using an E-commerce Website builder for creating your online store.
It is best to use an e-commerce website builder to configure your online jewelry store because
- An e-commerce website builder offers you a plug-and-play setup to create your online store. It has readymade templates, themes, plug-ins, and tools that help you configure your store in minutes.
- You do not need any coding or programming skills. The e-commerce website builders like Shopify have an organized structure for your store layout that is easy to deploy.
- In an online marketplace like Amazon., the website layout is fixed with a pre-defined structure for product descriptions, images, etc. But on a website builder platform like Shopify, you can customize your store layout in the way you want.
- No more worries about order fulfillment or shipping. The website builder platform does these using apps and tools.
- It saves a lot of time, money, and effort by automating several tasks like inventory control, analytics, etc.
- Unlike online marketplaces like Etsy, there are no listing fees here.
- Using a website builder platform like Shopify helps you establish your brand and not just an online store.
VERDICT - Use an e-commerce website builder like Shopify or WooCommerce to create your online jewelry store.
3. Outline the features you need for your online jewelry store
Before choosing the right builder for your e-commerce website, you should decide on the functionality of your store's site. Your online jewelry store must have an e-commerce website with the following features
- User-friendly and mobile-optimized website design
- Eye-catching images of high quality
- Product descriptions with SEO-optimized content
- Customizable URL
- Social media integration of your site on FB, Instagram, etc
- Tools to manage products, inventory, order fulfillment, shipping, and analytics
- Multiple payment gateway integrations
- Upselling and cross-selling capability
- Multichannel integration with other online marketplaces
- Complete security with robust functioning
- Clear return policy
- Excellent customer support with exhaustive FAQs.
Keeping in mind these features needed for your site, you can choose between
- Shopify- A professional platform with all e-commerce features readily available to deploy your store and create your brand.
- Wix- A drag-and-drop E-commerce website builder that is known more for its ease-of-use than functions.
- WooCommerce- A WordPress plugin that allows you to transform your website into an e-commerce one by adding features.
- BigCommerce- A hosted shopping cart software that is easy-to-use with all e-commerce functions.
4. Choose your e-commerce monthly plan
To run your online jewelry store on an e-commerce platform, you must sign up for a monthly or yearly plan like the ones below.
- Shopify- $29.95 to$229.95/month
- Wix- $20 to $35/month
- WooCommerce- Open-source and Free but charges for SEO, Security, SSL certificate and communications
- BigCommerce- $29.95 to$229.95/month
So while choosing your plan, check thoroughly to see if it covers everything like
- Abandoned cart recovery- This feature allows you to persuade customers to complete their orders before abandoning their cart. Discount codes, free shipping, and surprise gifts at checkout are ways to win back customers.
- Unlimited bandwidth- This decides the volume of data your website can carry and hence, the future of your site. If your online store booms, more traffic may plunge in. Only a site with unlimited bandwidth can handle this.
- Customer support- Without an excellent customer support facility like live chat, 24x7 call support, and FAQs, it is impossible to satisfy and retain customers for your site.
- SSL certificate- This provides security to your site by encrypting the payment details.
5. Decide the domain name of your online jewelry store.
Now that you have an e-commerce store for your jewelry, what are you going to call it? Choose a unique domain name that is relevant to the jewelry business. Make sure that the domain name is not used by anyone else or has even a remote resemblance to it. Register it or buy it from a domain name registrar like GoDaddy, Hostinger, Domain.com, BlueHost, etc. Squarespace offers a free domain when you use its website builder. Connect it to your online jewelry store site and you are ready to go!
6. Deploy your online jewelry store
Now that you have named your jewelry store, let us organize it by following these steps
1. Choose a website layout or theme for your online jewelry store
Just like the interior decor of a physical store, the website layout of an online store matters. That is why to start with, let us select a theme or template that is specific to the jewelry trade. Shopify, WooCommerce, and BigCommerce have jewelry-specific themes and the best thing about them is that all these themes are mobile-responsive too. So, choose a great theme and customize it by altering the background, colors, fonts, images, videos, contact forms, etc. Use apps to add extra elements to your themes like FAQs, chatbots, etc. Check out these best Shopify Apps to know how best you can optimize your store's site.
2. Decide the product categories
What type of jewelry are you going to sell online? This is what you must decide first.
List out your product categories based on
- Material- Gold jewelry, diamond jewelry, precious metals, platinum, etc
- Purpose- Engagement rings, Wedding rings, Gifts for Her, Gifts for Him, Birthday gifts, Kids Jewelry
- Ornament type- Chains, Necklaces, Bracelets, Brooches, Rings
- Design Type- Handmade, Branded or Designer Jewelry, Fashion Jewelry, Fine Jewelry, Vintage or antique piece of jewelry, etc
- Trend- Traditional, New Arrivals, Bestsellers
Some of these categories may overlap but that does not matter. Just make sure you cover all that you sell and feature them under any one category. Also, ensure that you have ready stock of all that you have listed under these categories.
3. Display eye-catching images with a sharp resolution for your products
Seeing is believing and this is especially true for jewelry. Online jewelry buyers base their purchase on the arresting product images you depict on your online store's site. So, make sure you depict images of high-quality and fine resolution of the product. To achieve this, remember these tips
- Use good lighting to showcase your product.
- Use a neutral background so as to shine the spotlight on your jewel and not distract it with the background.
- Get a sharp focus on the product.
- Arrange a professional photographer to click photos of your product to get the best results.
Be it gold or loose diamonds, your customers must see the sparkle and shine on your images.
7. Find jewelry suppliers to stock your online jewelry store
If you are a goldsmith or a merchant making your own jewelry, there is no worry about stocking your store. But if you are planning to buy it from others, you must know where to start.
You can buy gold from
- Jewelry manufacturers - Olympia Gold Incorporated, Liberty Jewellery, Apollo Manufacturing, Allied Gold, Dubai Jewel Factory, etc are some of these. These firms fabricate their jewelry and sell it worldwide to wholesalers and retailers. Hong Kong-based KGK has its own mines and helps you create your own branded sales and distribution network online.
- Wholesalers - Factory Direct, ASU, Stuller, Jewelry Bund are some global wholesalers. US-based Factory Direct Jewellery or Stuller does their manufacturing and sell in bulk. Others like MCA Gems, MDC Diamonds, etc are distributors who supply worldwide. Look for more bulk suppliers from this wholesale directory.
- Online wholesale marketplaces - Some of these like Alibaba, Buy my Jewellery just procure jewelry en masse from small suppliers and sell in bulk.
- Dropship Suppliers - Dropshippers liaise between manufacturers and jewelry buyers. They sell gold without having a warehouse facility by shipping directly from the factory with their margin. Galaxy Gold and My Jewels.com also handle dropshipping of jewelry worldwide.
- Salehoo - Salehoo is a unique website that acts like a knowledge base that provides you total information on all products including jewelry. Register on their site and pose a question or scan their FAQs. You can easily get a list of jewelry wholesalers and dropshippers.
- Tradeshows - You can source jewelry suppliers from tradeshows but do so after a thorough background check. Also, ensure that the products they sell are certified by reputed gemologists or a certified council like GIA.
8. Organize inventory control, order fulfillment, and shipping on your online jewelry store
Once you have got your stocks, managing them and processing orders is a challenging task if you do it on your own. If you want to do it this way, you have to assign a person 24x7 to that task. Instead, manage these by using readymade tools provided by your e-commerce platform or buying additional ones.
Managing inventory depends on the size of your product catalog, use the inventory tool provided by your e-commerce website builder. For instance, Shopify has inventory control and order fulfillment apps that you can use to ease this task.
Order fulfillment and Shipping
To fulfill orders, you have 2 options-
- Fulfillment warehouse- This means renting a warehouse, maintaining stocks, packing, and shipping them. This involves time and money.
- Dropshipping- There is no need for a warehouse. Stocks are directly shipped from manufacturers to customers.
Use tools and apps to get order fulfillment and shipping done in a jiffy. Apps like Oberlo help in dropshipping for Shopify stores. Choose a shipping carrier like FedEx or USPS or couriers like DHL or Canada Post and UK royal mail. An app like Shippo helps to track the shipping and print packing labels.
Offer attractive shipping options like free shipping, discounted shipping to lure customers.
9. Fix the price for your pieces of jewelry
The most important factor is the price of your jewelry. To fix the right price for your jewels, keep in mind the material cost, making charges, wastage, etc. Also, include the packaging and shipping charges. If you sell wholesale, you have to charge it per consignment and that would be 40 -60% lower than the retail pricing. Retail costs should be calculated based on the prevalent market rate, type of design, demand, etc.
Whatever price you fix for your pieces of jewelry, be transparent about it. Give a clear breakup of the final price like Tiffany's or Cartier to avoid any doubts. For customized designs, provide an option for the client to book an appointment or discussion.
10. Integrate payment gateways to your online jewelry store
You have put up your products for sale. Now, you need to get your payments on their sales. To enable this, integrate a payment gateway with your online jewelry store. A payment gateway allows payments through debit and credit cards and other payment channels like PayPal or Stripe to be done in a secure manner. While doing this, remember a few things-
- If you want your jewelry business to boom, you must be more flexible with your payments. You can do this by including multiple payment gateways in your store. This increases merchant support, ease-of-transaction, and quicker payment processing.
- If you want your jewelry business to go global, use a multi-currency payment gateway like PayPal, Stripe, RazorPay, Paynetsecure, Authorize.net, etc.
- Use a payment gateway with Point-of-Sale(POS) functionality.
A Point-of-Sale function allows you to integrate payments done both online and offline. This means it will handle both net payments as well as physical payments at your store outlet. This POS function is very useful when you wish to operate across several locations or channels and when you deal with multiple product lines.
If you are operating your business on a multi-channel level on many online marketplaces like Amazon, eBay, FB, Instagram, etc , you must have a payment gateway with POS functions.
Likewise, if you operate omnichannel by delaying with different types of products, use the same. Shopify has its own payment gateway Shopify payments as well as Shopify POS providing excellent payment support.
11. Launch your online jewelry store
Once all this detailing is complete, you can test and publish your online store. Before doing this, check your images, links, checkout, etc. See if the store looks the same on mobile and other digital devices. Double-check contact details, currency, prices, and language on the site. Look for broken links and bugs. Once all this is cleared, go ahead and publish your site.
12. Promote your online jewelry store
You have a neatly organized store for jewelry. All you need is customers. Get them by promoting your store in the following ways
- Multichannel- Integrate your online store with other marketplaces like Amazon, Etsy, and eBay to have a multichannel presence. You can also try Artfire, Bonanza, Tibbet, etc.
- Social Media marketing- Launch ad campaigns and feature your products on social media posts frequently.
- Email marketing- Capture emails from site visitors and create an email list with apps like Klaviyo. Use it to retarget customers and reduce site-bounce.
- Content marketing with SEO- Use blog posts with SEO to gain visibility by ranking your site on top of the search results.
- Influencer marketing- Use celebrities to vouch for your site and acquire fan support as leads.
- Customer testimonials- Cite customer testimonials as social proof to validate your products.
- Deals and discounts- Offer attractive deals and discounts through campaigns to lure customers.
Once you have done all this, traffic to your site will increase. Start converting the leads and boost the sales of your online jewelry store. Offer 24x7 support via live chat and phone to help customers and retain them.
Tips to run your online jewelry store with success
- Create your own dedicated customer base or niche
- Try to include all kinds of jewelry to suit all ages and both genders
- Be genuine and transparent in the pricing
- Never deal with fake products
- Share your product images regularly on social media
- Create and retain customers with loyalty programs
- Have clear shipping and returns policy
- Offer the best customer support with FAQs, live chat, etc.
Use this ultimate guide to help you sell your jewelry online. Your jewels are precious and so is your online store. But the most precious ones are your customers. Create an awesome online store for jewelry by following the above steps. Cherish all your precious items- your jewels, store, and customers always.