Twenty-nine million people purchase jewelry every day. The industry is booming, and here’s the best part – it’s a highly profitable business, with profit margins ranging from 25% to 75%. This is only one of the reasons to consider when establishing or expanding your own jewelry business online.
The global jewelry market is predicted to reach $488.21 billion by 2030, at a CAGR of 4.6% between 2022 and 2030. The industry is experiencing growth due to several important factors, such as strategic partnerships and acquisitions among major companies, the increasing popularity of cross-cultural decorative items, and the growing use of online shopping for buying jewelry. These figures and facts paint a vibrant picture of a thriving industry that welcomes established giants and newcomers.
However, along with this growth comes a rise in competition. To stay ahead in this competitive landscape, jewelry businesses need to adapt by embracing new marketing ideas, leveraging digital platforms, and providing unique offerings to resonate with discerning customers.
In online shopping, customers need the ability to engage with products physically. As a result, they rely on product descriptions, placements, and high-quality visuals. With a solid marketing strategy, it’s easier to maintain a competitive edge and keep consistency in sales and profitability.
In this article, we’ll explain some jewelry marketing strategies to help you elevate your sales efforts and stay at the top of the game.
Challenges of selling jewelry online
Before diving into the strategies on how to increase jewelry sales, let’s take a closer look at the main challenges faced by jewelry retailers:
Intense Competition: The jewelry market is highly saturated, with countless retailers vying for customer attention. To succeed, you need to differentiate yourself and offer a unique value proposition.
Lack of Tangibility: You can’t physically touch or try products when shopping online. Hence one of the best ways to remedy a lack of tangibility is to showcase your products effectively.
Visual Appeal: Jewelry is inherently visually captivating; customers expect high-quality imagery and detailed product descriptions. Designing your online jewelry store can be exciting while also daunting. There are various factors to consider, from the colors, messaging, and layouts you choose, to features and options. Failing to provide visually appealing content can result in missed sales opportunities.
Tips to increase retail jewelry sales
When you start googling “marketing strategies for jewelry businesses,” 90% of the information you find will be about the importance of social media, e-mail, influencer marketing, etc. These are essential and a must of your jewelry sales strategy. But, in this blog post, we decided not to repeat what has already been said and focus on tips that might not be so obvious but still bring the benefits of selling jewelry online.
Build your brand while selling jewelry online
Jewelry is one of the most saturated markets. Creating a unique brand identity showcasing your offering of something beyond special is crucial to stand out from your competitors. Consistency is an essential aspect of branding. From page to page, you want your customers to know it is you, even without seeing your logo.
When building your brand identity, pay attention to a few significant things:
- Mission and vision. Create a brand story to align with your audience and establish a deeper connection to your brand.
- Colors. Explore color psychology to find those that will define your brand and evoke certain emotions in your customers.
- Logo and name. Brand names either endure or fade away over time. Selecting a name that effectively represents your brand and is memorable is essential. Your logo, as the symbol of your brand, plays a crucial role in defining your identity and facilitating easy recognition and awareness of your brand.
- Product photography. Product photography goes beyond simply capturing images of your merchandise. It serves as a visual representation of what your products embody, possessing their unique personality. Using a consistent and visually striking style in studio and lifestyle shots is essential for effectively showcasing your jewelry.
Fine-tune your website
Building an optimized and high-converting website is the first step in finding a working marketing strategy. User experience, checkout functionality, product placement, description, design, and visuals contribute to how customers feel about your brand.
The success of your eCommerce store hinges on one crucial factor—the accessibility and usability of your website. Pay attention to the nitty-gritty details because they matter. Design and speed are not just fancy buzzwords; they impact your site’s performance. Whether you self-host or opt for a third-party eCommerce platform, ensure these aspects are optimized to deliver a flawless user experience.
The perfect way to maintain your website’s uncluttered and organized look is to start using digital commerce solutions. By embracing the wonders of drop-down menus, grouping products per category pages, and creating specific rules, you will be able to keep your pages clean, sleek, and stress-free for users.
For instance, try Sortler and create specific rules to make product catalogs more attractive and offer your customers a better experience. Here’s how to make it happen:
- Determine the optimal number of product groups on each catalog page to ensure no single category item prevails over the rest.
- Hide less popular products in favor of more popular ones.
- Indicate the desired amount of product from each brand to be featured on the catalog page.
You can also use Sortler’s Drag & Drop feature to move catalog elements and place your products in the most intuitive and user-friendly way.
Test your website’s performance
Once you launch or revamp your website, test the positioning of conversion elements. In addition, you want to create an environment where customers are naturally inclined to buy your products, and it should be clear how to proceed with their purchase.
If you use a tool such as Sortler, try a virtual catalog as a testing environment that synchronizes with the real store catalog. Instead of making immediate changes to the live catalog (which might be risky), you work in a virtual copy where you customize and experiment with product placements. This is especially important regarding security as it allows you to conduct multiple experiments with product placements and only apply changes to the live catalog after approving the “OK” version.
Once you have placed your products in the test catalog and are ready to show them to potential customers, press the “Publish to Live” button to synchronize the virtual catalog with the “live” catalog status.
Thus, in test mode, you have the freedom to experiment with the placement of the items, allowing you to make changes as much as you want. When you’re prepared, you can effortlessly and securely transfer everything to the operational version.
Write effective jewelry product descriptions
You strive to stand out from other jewelry eCommerce stores, and one effective method to avoid similarity is creating compelling and unique product descriptions. According to data, 87% rely on online searches for product purchases. Similarly, 87% of shoppers consider product content the primary influencing factor in purchasing decisions. Among the various elements of product content, a comprehensive product description consistently emerged as the most preferred by shoppers. This finding is supported by the fact that 50% of surveyed shoppers have returned their online purchases because they didn’t match product descriptions. Writing compelling product descriptions for a jewelry online store requires a balance between providing accurate information and enticing the customer with persuasive language. Here are some tips to help you create compelling product descriptions:
- Know your target audience: Understand your customers’ preferences, desires, and motivations. Tailor your descriptions to resonate with their needs and aspirations.
- Be descriptive: Provide detailed information about the jewelry piece, including its materials, dimensions, gemstones, and unique features. Mention the craftsmanship, design elements, and any special techniques used.
- Highlight the benefits: Explain how the jewelry piece may enhance the customer’s style or make them feel special. Emphasize the qualities that set the piece apart, such as its elegance, durability, or versatility.
- Use sensory language: Appeal to the customer’s senses by incorporating descriptive adjectives to evoke imagery. Describe the jewelry’s sparkle, shine, texture, or weight to help customers imagine owning and wearing it.
- Focus on the value: Communicate the value proposition of the jewelry piece. Highlight unique selling points, such as limited edition, exclusive design, or eco-friendly materials.
- Incorporate keywords: Include relevant keywords in your descriptions to improve search engine optimization (SEO) and increase visibility in online searches. However, avoid keyword stuffing and maintain a natural language flow.
- Keep it concise: While providing comprehensive information, keep the descriptions concise and scannable. Use bullet points or short paragraphs to break up the text and make it easier to read.
- Encourage action: End the description with a clear call-to-action (CTA). Checkout buttons and other CTAs should be prominent and use keywords like “Buy Earrings,” not “Click Here.”
Continue optimizing and testing your product descriptions based on customer feedback and conversion rates. Engage customers and drive sales in your online store by conveying your jewelry pieces’ unique qualities and appeal.
Create product labels
Using terms like “best sellers,” “new,” or “sale” when listing products is an effective strategy to generate excitement among customers for popular items. People are often eager to buy trending products or take advantage of discounted prices.
For example, Sortler includes a built-in bestseller metric in reports. These reports provide detailed information about the top-selling products based on vendor, SKU, sales, and other essential metrics. Using this data, it’s possible to designate certain products as “best sellers” within their respective categories or label them accordingly on the product page.
With Sortler, jewelry businesses are able to create rules to automate product management and placement. In particular, depending on various factors such as seasonality, novelty, or stock balances, it is possible to prioritize products in the catalog according to your needs and consumer demand. For instance, by configuring special rules for your category pages, “best sellers” or “sale” items will appear in the first place without any additional actions on your end.
The jewelry industry is experiencing exponential growth and profitability, with millions purchasing jewelry daily. However, with this growth comes intense competition. Effective marketing strategies increase retail jewelry sales and elevate your brand. By embracing effective jewelry marketing strategies and utilizing tools like Sortler, jewelry businesses can stand out, optimize their online presence, and thrive in the dynamic and vibrant world of jewelry eCommerce.