Do you have a fine eye for picking the most beautiful pieces of jewellery? Do you make your own exquisite pieces? Then, it is a good idea to capitalise on your talent and build your own business around it. Learn all about how to sell jewellery online and turn your passion for bling into a successful profession.
Is it a Good Idea to Sell Jewellery Online?
Before you learn about how to start an online Jewellery business, it is very important to know if it is lucrative. Here are some reasons why the online Jewellery business is one of the best industries to venture into:
- The profit margins for Jewellery can be as high as 15%-75%.
- People are becoming increasingly conscious about accessorising.
- The market is huge, allowing you to explore niche styles of Jewellery.
- It is expected that by 2025 18% of all Jewellery sales in the country will be made online
- You save a lot on rent, utility, and other overheads that come with a brick-and-mortar store.
- You can stock up your products based on demand, saving on storage space and cost as well.
How to Get Started?
Here are the basics of how to sell jewellery online:
- Research about the industry: Look at various websites and online channels that sell jewellery. It is important for you to understand the trends that are in the market currently to decide upon your product line. When it comes to how to sell jewellery online successfully, you can also get great tips from blogs written by famous fashion personnel, influencers, and jewellery bloggers.
- Find your niche: After you have done your research, you need to narrow down on the products that you would like to sell. Do you wish to specialise in a certain type of jewellery like bangles, toe rings accessory or a style like fashion jewellery, silver jewellery, or statement pieces? Once you figure this out, creating the store becomes easier.
- List your requirements: If you want to learn how to sell jewellery online successfully, you need a plan on paper. Make a note of everything that you need to set up the online store, like the products, pictures, and descriptions of the products, a domain name or an e-commerce website, etc. Next, move on to things that you will need after you set up the store like an inventory management system, logistics providers, customer support, and more.
Sourcing Your Jewellery
If you make your own jewellery, then all you need to do is look for suppliers for raw material that can offer you a good price. If you are looking for vendors who can supply different types of, you have some sources that you can turn to:
- Search engines
- Social media where you can find independent jewellery designers
- Online marketplaces that connect you with manufacturers from different countries as well.
- E-commerce platforms that feature verified sellers.
- jewellery trade shows where you can interact with designers and suppliers directly.
Where to Sell Your Jewellery?
How to sell jewellery online successfully depends upon the platform that you choose to sell it from. There are two main options available:
1. Your Own Website
Creating your own website to sell jewellery online is like setting up a brick-and-mortar shop from scratch. You need to get the domain name of your choice and also obtain a security certificate in order to allow online transactions. Once the design of the website is complete, you must also integrate it with a reliable payment gateway.
- You get to define the presentation and the image of your brand clearly.
- There is no competition when it comes to directing traffic to your products.
- You do not have to share any portion of your revenue.
- Scalability is easier since you have no limitations when it comes to your own website.
- The cost of setting up an e-commerce website is high.
- You need to pay additional maintenance costs.
- In case of any issues with the website, you need to take full responsibility.
2. E-commerce Platforms
There are several e-commerce platforms that give you virtual real estate that you can hire to set up your online store. These online stores provide you with all the facilities that you need in order to run your business online. From presentation to payment, these stores are the best options for newcomers who are still learning how to start an online jewellery business.
- It is more economical than setting up a website from scratch.
- You have all the support that you need to run your online business successfully.
- You can reach out to their existing customer base and find more customers easily.
- You can even run advertisements for your store on the website at a premium cost.
- You cannot create a unique brand identity
- You have to compete with other vendors and suppliers who are selling similar products online.
- The traffic is divided.
- You have no control over the website in case it is not functioning properly.
How to Make Your Online Jewellery Business a Success?
Now that you know where to get your products from and how to set up your store, the most important part is learning how to sell jewellery online successfully. Here are some tips that will help you:
- Never sell fake imitation pieces of popular brands as it reduces the credibility of your store.
- Presentation of your products is key. Make sure that you have good pictures and a detailed description of each product to keep the customers engaged.
- Run promotional advertisements on search engines and social media to reach out to more customers at a lesser price.
- In case of your own website, pay attention to SEO and other practices that increase the popularity of your website.
- Offer deals and discounts on a regular basis in order to keep the customers interested in your brand.
- Make sure you define the target audience and personality of your brand to make your marketing strategies more efficient.
- Use technologies like cloud inventory management systems and bookkeeping applications like OkCredit that make it easier for you to manage your supply and sales.
- Hire a team to manage your online orders so that you can focus on business development for your brand.
There is no doubt that the online jewellery business is one of the most thriving markets today. With many customers turning to online shopping options, you can sell anything from luxury pieces to fun junk jewellery after you have learned the basics of how to sell jewellery online.
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Q. What is the best way to maintain inventory for my jewellery stock?
Ans. Today, you have the advantage of technology which helps you keep track of your inventory and even get notifications when some products need to be restocked. The cheapest option for new businesses is to use a cloud-based inventory management system.
Q. How to price my jewellery?
Ans. When pricing your jewellery, make sure you compare the prices to similar products in the market. Offer a competitive price that takes into consideration material costs, vendor prices, shipping costs, and other overheads you incur per piece.
Q. Can I offer free shipping to customers?
Ans. One of the most important things when you sell jewellery online is to provide the best experience to your customers. You can offer free shipping when customers make a minimum purchase of a certain amount so that you don’t incur high costs of shipping. Alternatively, you can include shipping costs in the price of your product.
Q. Is it safe to have jewellery delivered using logistics partners?
Ans. Yes, When you work with a reputed logistics partner with a good track record, it is completely safe to have your jewellery delivered through different local partners.
Q. Is using an e-commerce platform like Shopify cheaper?
Ans. Using e-commerce platforms reduces your maintenance costs tremendously and also gives you access to an existing customer base, making it a good idea when you are starting off.