Hello! Finally, I am writing for you a new post! Honestly, I’m feeling like being a bit out of habit. But, as well feel that I really missed you! I hope you too. After all, today we have a very important topic about the pros and cons of online and offline jewelry businesses. You know that I’m a big fan of online shopping, but now it’s not about me. It’s about objectivity and the proper choice of your jewelry store future.
Beauty as a trend will last forever. Click To Tweet Luxury in combination with the beauty will be popular in any case. Even taking into account the high price policy. And it will totally bring good earnings. Yes, the competition in the jewelry market is high. However, if you approach the business seriously and make the necessary adjustments to the business strategy, the successful start is guaranteed.
In this post you will find
- 1 Online jewelry store
- 2 Offline jewelry store
- 3 Emilia Manvelyan, founder of the ART FLASH brand:
Online jewelry store
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Jewelry is the perfect product to sell online. Click To Tweet After all, talking about appliances or clothes, where not only the appearance, but also the materials, the quality and so on are important, jewelry and accessories are more about the appearance. And the photo on the Internet page perfectly conveys this thing. Therefore, from that point – why you should rent a compartment and sell your products on the ground, if success can be achieved in the “air”. And here is the most important point – the main thing is that the very success was not the airy zilch.
Advantages of selling jewelry online are obvious:
- you need to consider only the cost of the goods;
- renting a page on the Internet does not go to any comparison with the rent of even a small department in some shopping mall;
- brand owner can act as a seller in such a jewelry store, and the delivery is carried out by mail or special services.
- the online jewelry store operates 24 hours per day, 365 days per year, without a break for lunch, without days off and holidays;
- access to the virtual storefronts can be obtained by any customer located anywhere in the world on any continent;
- professionally competently created online jewelry store can work completely autonomously, practically without maintenance;
- the online jewelry store has no restrictions on the virtual area – you can place as many goods as you want or describe any number of services;
- the online jewelry store allows you to communicate with potential customers who are as far away as possible, in real-time;
- to create an online jewelry store, you do not need to obtain multiple permissions and licenses – it is not checked by the fire inspector, sanitary epidemiological surveillance and other services.
What about money?
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One of the important advantages is also accessibility and the low entry threshold. Indeed, to start an online jewelry business you can use something like symbolic money deposited with the “school lunch” (many people do like this). However, it will not be possible to reach any permanent, predictable and tangible income without investments. Many of my friends started business selling accessorizes online. But after they got about 10k subscribers on Instagram, they started to think about a real store.
What about failure?
Despite the apparent simplicity, Internet commerce has many pitfalls. You can find many references not only about successful projects, but also about unexpected failures of the same idea. Moreover, a banal lack of knowledge often becomes the cause of failure. Click To Tweet But do not think that “earthshops” are insured from this! This is a much more terrible failure. After all, you will spend once to create a website – and once lose (and if you are selling on the social network page, then there will be basically nothing to cry about). But the realization that the months of rent, the creation of image, design, advertisement and so on – all in vain … That’s what really hurts.
For many years I have heard from all available sources of information about the frantic prospects of online jewelry business. And, as you’ve probably realized, I am insanely happy about it! After all, I’m a big fan of online shopping. But all these years, despite the growth of Internet trading in the great volume, only some companies are making big money on it. And from the whole internet that really profitable companies can be counted on the fingers of one hand. And you probably know all their names. The prospect of such a perspective.
Offline jewelry store
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Naturally, the store that stands on the ground will cause much more confidence in your customer. This store they can visit just when they have a free minute, they can touch the product and try it on and such stores often charge the positive energy of the creative atmosphere. But success directly depends on the location point of your jewelry store. Click To Tweet Since jewelry made of gold and precious stones do not represent an object of prime necessity, but has a definition of taste and status of the customer, edge of the city is not acceptable to be successful.
What about money?
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If we talk about the store in a good place, then the first profit can be obtained after the first month of work. And it is even without taking into account the payback. Online is not always working like this: real users will come only after some time, the search traffic also will not appear immediately and “purchased” visitors do not always pay off expenses. But you probably understand that this should be a really good place for your shop. And you will need to advertise it. Furthermore, this is much more difficult on the ground than in the Internet world.
What about peculiarity?
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But the offline jewelry business also has its advantages. There is something that people are willing to spend time for this. First of all, this is a familiar model of work. If we talk about sales and retail in general, then we can surely say that people are more used to do shopping in ordinary stores than on Internet. And the reason for this has a number of factors, including the desire just to walk or to talk. And then the absence of time does not play a big role. This is me talking to you as a shopaholic =)
In my opinion, modern business should be a symbiosis of online and offline.
And also include all the best from these two areas. For example, why you should hire 5 workers, if you and 1-2 persons more can work remotely? Why you should rent an office and pay for the Internet and a dedicated line, if you can use the Internet from home? In any case, I believe that it is worth starting with online business and sales on your personal website. Then the fall will not hurt you so much, if the fall appears. And you will have time to learn a lot before you go to the offline market.
Results of the research conducted by the Luxury Institute (New York) show that the Internet has become the most preferable way to find customers before they make a purchase. With almost 90% of consumers looking for luxury goods and the opportunity to purchase them online. And one of the most important things – 80% of customers prefer this method to all others. According to the same studies, Internet and mail boxes are the best ways to offer and to sell luxury goods and services to wealthy people.
Emilia Manvelyan, founder of the ART FLASH brand:
The advantage of online business is, first of all, the possibility for a start-up with a small investment. We started with the fact that several products and put up for sale in Instagram. Having tested the demand, we began to expand the range, develop the site, attract employees. Because the business plan excludes items requiring financing under the conditions of offline trading, the most significant of which are rent of premises and staff salaries. Outsourcing on a contractual basis does not require the payment of retail space. Offline-trading requires significant investment in the development and production of new collections, replenishment of the range. Online allows you to take orders and only then to sew products. Accordingly, there is no overstocking of the warehouse unrealized products, there is no need for sales with large discounts and freezing funds.
One more plus for the online shopping is also its service. The customer does not need to go for a purchase, spend time on the road – just examine the goods on the website, pay for and arrange the delivery, that is like “make a purchase in a few clicks.” You can make a purchase from any locality, another country. The company delivers it to any point and also offers a convenient time for delivery.
Of course, online jewelry business has its disadvantages. The size does not always fit. Some customers prefer to evaluate the product visually, tactilely, be sure to try on. There are buyers who doubt about the honesty of the sellers and are wary of making payment online. We take into account these features and try to find solutions to avoid losing customers for these reasons.”