How To Successfully Sell Jewelry Online + Drive More Sales For Your Business

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Creating a social media following has the power to increase your product discovery, ultimately driving site traffic and conversion.

When brainstorming your content strategy, think about what sets you apart from your competitors and find ways to highlight those benefits.

Per a Marketo study, 96% of the time users visit your site they are not ready to make a purchase. Gaining email subscribers cultivates an engaged customer base, leading to increased online sales.

The key mentality is to provide more value to your customers than your competitors.

Influencers are trusted by their following to deliver authentic and engaging content and will aid in increasing brand awareness and ecommerce sales.

What sets the strategy apart from the rest is a partnership with LIKEtoKNOW.IT, the largest influencer shopping platform.

Since purchases often surround special events like Mother’s Day, the holiday season, or engagements, focus the conversation of your products around celebratory and happy moments in your customers’ lives.

Any type. Handcrafted, wholesaler, customizable, necklaces, rings, silver, or gold jewelry.

With the right ecommerce platform, you can easily manage different product categories making the options endless.

Selling on your own site comes with many more benefits compared to selling on a jewelry marketplace or another online alternative.

Some of these include eliminating direct competition on the same site, the ability to create a user experience design that speaks to the brand, direct customer service support, and better promotional management.

Plus, according to Statista, year over year (YoY), Amazon jewelry sales fell by 0.1% in 2018. Meanwhile, as mentioned in the beginning of this post, online jewelry sales are expected to grow 11% by 2021.

Hint: you have much more growth potential by launching your own site.

Yes, with caution. Dropshipping can be a cost effective and timely shipping and fulfillment method for your business.

However, as you grow, you may not want to use dropshipping as your single shipping fulfillment method, due to the low profit margins associated with it.

Dropshipping should be used as an enhancement. For more about the pros and cons of dropshipping, check out this article.

Do your research. Evaluating a quality wholesale supplier is the first step in determining if your products are authentic.

Once you have selected your supplier, have products sent to you to evaluate quality and price.

Repeat this process every quarter to ensure the quality of your products remain the same.

Keep your operating costs low and your retail prices competitive, so you can offer the best price on the market.

If you create handmade jewelry, you have more exposure to the associated cost of supplies and labor, use this transparency to your advantage.

For all types of jewelry, profit margins between 25-75% are standard across the jewelry industry. Be cautious of steeping prices too high, as this can alienate your customers.

There is no perfect formula for pricing handmade items. That being said, two main factors to pricing your handmade pieces are cost of supplies and time to create.

As a starting point, double the cost of supplies to reach a wholesale price, and quadruple the cost of supplies to reach a retail price.

Depending on the amount (and cost) of labor, increase prices as needed.

As you build your online jewelry store and digital brand presence, always be asking yourself: how can I bring more value to my customers?

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