In today’s era of digitalization, buying jewelry online has become a popular practice among many people around the world. Some customers choose to buy jewelry online because of convenience and others do it because of the variety of options and competitive prices. According to stats collected by Statista in 2018, more than 29 million people purchased jewelry online. This stat clearly states the market opportunity for aspiring entrepreneurs.
Along the lines of eCommerce businesses, jewelry holds a billion-dollar online marketplace. So, building a jewelry eCommerce website is a great idea for startups. Some top market players of the world catering to various geographic zones are Boticca, Folksy, Bluestone, Astley Clarke, and Caratlane. So, this is the best time to start your own online jewelry store.
Start Your Online Jewelry business
Most businesspeople who are preparing to start their jewelry business in the eCommerce sector have to select whether to choose a readymade eCommerce solution or build the website from scratch. Here’s a clear comparison between the two:
- Scratch
Websites developed with this approach often take a longer span for implementation because a large amount of time is required to code, develop, ensure quality, and special conclusive launch. This complete method is tailor-made according to business requirements and therefore, it involves a remarkable amount of money that can be hundreds of dollars (and sometimes thousands) to launch your own online venture. In addition, the technicalities used are complicated which leads to the consumption of resources.
In totality, if you are looking for building a website according to your own inspirations and have a huge budget and proper resources, then you can go for this option. Otherwise, you can advance with the alternative approach to building your jewelry eCommerce website at an affordable price.
- Ready-Made Solutions
Ready-Made software solutions, such as Yo Kart, are highly scalable and affordable. Such online ventures can be purchased at specific packages with varying pricing and assessments, offering distinct layers of capabilities’ scale, customer support, and compatibility. Also, they are basically sketched and designed to be quick at deployment and integrate smoothly with necessary existing systems without much customization and configuration efforts. If you wish to enter the jewelry eCommerce arena with limited time and money, then the readymade solution is your most reasonable option. You can choose from numerous benefits that would tailor your business needs or development ideas. Therefore, easily purchase a readymade website and start your online jewelry business journey with full ownership.
Key Tips To Follow
In this era of the competitive market landscape, to must do extraordinary things to make your business standout the competition. So, we have mentioned some proven tips that will help you to establish your business with a competitive edge over your business rivals.
- Create your own jewelry niche: The fashion of designing is quickly evolving in the jewelry industry. So, without a particular niche, your online jewelry shop may fall flat as a flop. In addition, it is crucial to decide your own jewelry niche to differentiate your venture from other sellers in the market. Following considerable exploration in the competitive market, you will easily find style geared towards customers.
- Avoid Fake Products: This is apparently the most valuable guidance we can advise you. By avoiding fake products, you will be winning the trust of your customers. Also, it benefits your business with word of mouth marketing as your customers will recommend their friends and family to buy jewelry from your website. So, verify each of your vendors after confirming that they sell genuine products.
- Include plenty of payment options: Give your customers the benefit of paying through various online payment options along with cash on delivery choice. Allying your store with big capital industry brands like Amazon, Airtel, and PayPal can really be a positive element in assuring your users that you run a legitimate online store. Not only this, integrating different payment systems on your jewelry venture will give your online business a competitive edge.
- Set up a shipping provider: Because jewelry is expensive, partnering with a trustworthy shipping provider is a matter of concern. This would help you to timely deliver jewelry items at customer’s doorstep. It does not only enhance the customer experience but protects your precious items against any theft or damage. So for an easier order processing, put together the configuration of your website to meet up with your shipment.
- Figure out how you need to price items: Mastering the art of figuring out the right price for selling your jewelry items requires a modicum of mathematics. When you pick a retailer, you’ll discover that jewels will be cost-effective if bought in volume rather than sold in a direct way to a purchaser. It’s your work to review your overall expenses and making a room for tiny profits.
- Give offers and discounts: Position your online jewelry store as a much more fascinating choice with exclusive sales and wonderful deals you’d prefer to propose to attract buyers. It is the subtle art that one must learn to boost sales in the jewelry eCommerce industry. So, offer a genuine price without affecting your bottom-line by promoting offers and discounts to your loyal customers.
Also Read: Business Model of an online jewelry store
To Summarize
Starting your own jewelry business is a great decision. Analyze your market and customer behavior to finalize your niche and understand business requirements. Also, build your online jewelry venture to leverage the market opportunities with the world-best readymade solution. To get a features-packed & fully equipped eCommerce platform, we advise you to build your online jewelry Shopping marketplace with YoKart.
So, these are some of the most important details to build a jewelry eCommerce website. In today’s market being just an average isn’t a key to success. Therefore, be more creative, start something truly disrupting and launch your own online jewelry marketplace
