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Jewelry has always been a best-seller, especially in recent years, the sales of such products in e-commerce have been rising.
Let’s look at some data:
In 2019, U.S. jewelry e-commerce sales were 8.365 billion U.S. dollars. The impact of the epidemic in 2020 dropped to 7.55 billion U.S. dollars. But this year it has picked up again, estimated at 7.609 billion US dollars.
According to Statista statistics, 69% of American consumers buy jewelry online.
In 2018, the online share of the North American accessories market reached 22%, and it is expected to increase by 11% in 2021.
By 2023, global online jewelry sales is expected to reach 340 billion U.S. dollars, and by 2035 it will reach 645 billion U.S. dollars
29 million people buy jewelry every day. Simply put, for jewelry selling:
1) The market is huge and many people would like to buy;
2) There are plenty of opportunities for growth in this niche market;
3) This category has gradually become digitized, and online sales have continued to rise.
So why are the e-commerce sales of jewelry products rising now?
This is mainly due to the fact that all brands and sellers’ stores have added independent stations, platforms, and other channels for sales in addition to offline stores. At the same time, owing to the fast development of social media, the display and promotion of jewelry for brands and sellers have become more convenient.
Finally, more and more people need fast-fashion fashion accessories at a reasonable price, and it is easier to find such products online, which has also contributed to the sales of fast-fashion jewelry e-commerce.
So today, we mainly look at how to make jewelry products from the following two aspects:
· Product features
· Product category
Jewelry products mainly have the following characteristics:
√ The product is light, small in size, little storage space required, low freight, and not easy to damage during transportation;
√ The profit of jewelry can reach 25%-75%, there is a large premium space, and there is no certain pricing standard;
√ There are many types of jewelry, not only the materials are different, but also many categories can be divided into functions and production methods; it can be used to focus on a certain category or multiple categories;
√ Can be customized, and the profit margin of customized product price is also great;
√ Jewelry products have no gender boundaries and are universally attractive.
These characteristics also show that the jewelry market is a very good direction, but to maximize the profit of the product you also need to know the following information:
1. Product: The fashion of jewelry must conform to the trend
Although the styles of some categories of jewelry are relatively classic, most users still hope to have jewelry that meets the current fashion trends. Many people are keen to buy and own new styles such as popular colors, materials, styles, and styles.
This requires us to always pay attention to the fashion trend shared by jewelry bloggers.
2. Audience: The goal is to segment users, not everyone
The jewelry market is very large, but the competition is also great. So instead of “eating” the entire market and sell the products to everyone, try to be clear about the target users of your products and market to your target users;
For example, if you sell high-end jewelry, your target audience must have strong spending power, and the age group will be higher, with requirements for product quality, certificates, etc. You may focus your marketing on Google advertising, content SEO, etc.;
If you sell fashion jewelry, your target customers will be relatively young. So you will put more effort on social media, celebrity recommendations, etc., and share more jewelry collections and fashion trend, etc.;
If your products are ethnic-style jewelry, look for users who love this style. They may also be concerned about fashion bloggers or related content of this style;
In short, target your audience segments and market to these people.
3. Marketing: There is a big premium space, requiring unique marketing methods
Unlike electronic products or other functional products that can be quickly told with prices, jewelry is often more subjective. People may buy a jewelry product just because of its unique design or craftsmanship, giving jewelry selling more room for premium.
But the question is, how to impress users? Like, How to tell stories to increase the added value of the product, or to meet the individual needs of users, find matching characteristics, or share the production process of the product through video through social media to increase user participation?
These answers all lie in testing and exploring according to the characteristics of the product. So in the following article, we are going through 4 different categories of jewelry products and how to market each of them.
Jewelry e-commerce sales are mainly divided into the following categories:
1) High-end custom jewelry;
2) Fashion FMCG accessories;
3) Handmade jewelry;
4) Body piercing jewelry
Different categories of products, depending on their pricing, focus on different styles and functions, and have different marketing focuses and strategies.
1. High-end custom jewelry - professional, storytelling, and content
Most high-end jewelry is custom-made, such as wedding rings, commemorative jewelry, special name symbols, and high-end jewelry. The main features of this type of product are as follows:
1)The price is more expensive;
2) Long customization cycle and emphasis on customer service;
3) Higher requirements for materials, more professional information is needed;
4) Significance of uniqueness and product design;
5) Importance of branding
Therefore, this requires the brand to tell stories, use professional knowledge to make content, pay attention to SEO, use 3D pictures, product videos, or even make immersive shopping experiences by allowing users to upload selfies to know their try-on looks.
A good example is Taylor & Hart's customized ring website which achieved 4.6 million USD/year in sales in 2019. It communicates with customers, helps customers design, and tells a story for each piece of jewelry, giving each product personality and emotion.
At the very beginning, the website was just the same as other diamond jewelry, which was to display various products. Later, the website began to focus on communicating with customers, understanding customer needs, and designing products exclusive to customers according to customers' ideas or memories.
The website uses detailed and patient communication with customers to evoke emotional memories between customers, and then use words to explain a touching story for the jewelry; uses 3D Printing and other technologies for customers to view or try on online; emphasizes the service tenet of "lifetime jewelry". These emotional, professional, and after-sale measures have allowed the brand to quickly accumulate users and increase sales. Now the sales of personalized custom wedding rings on this website have exceeded 60%.
Let's also take a look at the entire website content.
Impress users - product attraction - customized stories and comments from users which make users emotionally resonate - stimulate consumers again - professional answers, dispel doubts - brand value advocate &
The homepage of the website starts with a sweet picture, saying that “you find your love in this life. This is a big event. You will be nervous and excited, but it shouldn't be because of the choice of the ring.” It conveys the feeling to consumers that they can confidently leave the rest of things to the brand.
Then the website begins to share the top ten popular ring styles. Although many people like customization, they can't think of it out of thin air. This allows users to have a vague concept of
Next, it directs the customers to the consultation methods—showroom and online consultation.
Next is the most special part of the website, the story of customers and custom jewelry.
It takes a sweet photo of the customer wearing a diamond ring, matches the customer’s name, and a sentence from the customer’s evaluation or sentiment. This kind of carousel is shown in front of all users. While sharing customer stories, it impresses other users. Besides, these contents are also very popular with the Google search engine.
The dazzling part is that the brand also shows respect for homosexual love and shares their happy stories with everyone.
After the story, it continues to add different styles of jewelry along with customer reviews to go back to the brand itself.
The step that follows next is to reflect professionalism, like custom process, designer, shopping guarantee, etc.
And explain the source of the product and the customized service, so that the audience can have an added understanding of the products and increase trust in the brand.
The last paragraph emphasizes the different value cultures of the brand, and once again emphasizes the specialty of customization. The emotional and appealing slogan stimulates user customization.
At the same time, the website also has a very good feature to learn from, which is simplifying the process. Action buttons such as [Customize your ring] can be seen everywhere under each product map or page.
Avoid excessive and cumbersome shopping processes is critical to the transaction rate of the online shopping experience. Each additional step will increase the loss of a potential user.
The website does not have any annoying pop-ups that affect the user experience. The entire website presents a sense of high level, professionalism, and empathy.
Website traffic and main traffic also illustrate the effectiveness of brand content marketing.
2. Fashion fast-moving consumer accessories - conform to fashion trends, fashion personality, social media marketing characteristics
Fashion jewelry accessories mainly refer to jewelry that is not expensive and is made of artificial materials to meet existing fashion trends.
Features are as follows:
1) The price is relatively cheap and easy for the public to accept;
2) Suitable for social media promotion, celebrity cooperation, and spreading;
3) Affected by fashion trends, styles change frequently;
4) There are more young consumer groups;
5) Design that emphasizes individuality;
6) The product emphasizes personality and fashionable design, and the description emphasizes interest.
This type of product is very suitable for millennials and users in the Z era, who generally like to share and spread various fashion and personality accessories on social media.
Instagram, Facebook, Pinterest, etc. are suitable for publishing jewelry pictures. The white background of the entire page makes it easier to highlight the color and design of the product.
For example, En Route, with 23w+ monthly total traffic, social traffic, search traffic, and direct traffic each account for about 30%.
The price of the product on the entire website is basically around US$20-30, which is a product that users tend to consume impulsively.
Consumer groups are also relatively young, and 74% of social traffic comes from YouTube.
YouTube uses the advertising + celebrity recommendation method, which is also the main method used by social media, to find celebrities to cooperate in filming and matching, recommending videos, and at the same time with advertising.
Millennials and users in the Z era prefer the recommendations of celebrities and brand promotion on social media, which is more driving force for their purchases.
3. Handmade jewelry - low output but is loved by customers; social media sharing drives user dissemination
Handmade jewelry products also involve customized products. The prices vary from low to high. Here we are mainly talking about relatively cheap handmade jewelry.
1)The output is not large;
2)Unique, easy to trigger sharing and spreading;
3)Suitable for sales on Etsy and Amazon platforms;
The website Aziza Jewelry was created at the end of August 2020. Letters custom handmade jewelry is a niche product, produced and operated by one person, and now earns $5,000 per month.
Compared with high-end jewelry, which has an entire professional team to manage and design a website, this handmade jewelry website is relatively simple, suitable for small sellers and craftsmen to operate.
In the early days, the brand used Facebook advertising, which was not so good. Later, it turned to Instagram and Youtube, which brought a lot of traffic and sales to the website, and gradually established a brand.
Its focus on social media content sharing is the jewelry-making process and the sharing of jewelry expertise, especially the videos on YouTube, which have brought the author a lot of attention.
Hand-made works are different from other mass-produced jewelry. They are relatively niche, with fewer users and fans, but they are more engaged more loyal, and more willing to share and recommend products.
4. Body piercing jewelry - niche products, social media sharing
Body accessories mainly refer to ear bone studs, nose rings, brow rings, belly button rings, etc. The characteristics of this type of product are:
1)Most young people with unique personalities;
2)Small but less competitive than other categories of jewelry;
3)Mainly based on social media sharing and promotion
Impuria is a website that specializes in earrings. Since its establishment in May 2020, it has continued to post pictures of earrings on Instagram.
There are 158,000 followers on Pinterest and more than 10 million monthly views.
There are also 49,000 fans on Instagram, and each post has thousands of likes.
The website is mainly for post sharing, and those posts don’t even use celebrity promotion, just a simple website URL and some related tags.
The website implements an affiliate program and provides commissions to encourage recommendation sharing.
Therefore, the main marketing methods of the website are social media sharing, platform layout, and alliance promotion.
The product itself is unique and niche and the competition is relatively small. Without celebrity marketing or advertising, it still quickly gather its counterpart fans on social media.
To Sum up
The jewelry category does have a huge market, but there is also great competition in the market. You need to find a suitable niche category and sell your jewelry to a targeted audience.
Different types of jewelry also require different marketing strategies. If you sell high-level custom jewelry, you need to spend more effort on branding and tell good stories about your brand and products; if your niche is fast-moving consumer jewelry, then social media is a good platform for you to advertise and get more traffic; for handmade jewelry, you need to pay attention to process sharing and preheating to guide purchase; lastly, for handmade jewelry, you are supposed to find a specific group of people for marketing.
It is also useful for jewelry sellers to keep up with fashion trends and know what people craze.