Picture this: you’re browsing through glittering jewellery from the comfort of your home. Sounds appealing, doesn’t it? This convenience is reshaping how we shop for jewellery, raising the question: are online jewellery shops a threat to traditional brick-and-mortar stores? In this blog, we’ll explore the opportunities the online market offers and the challenges faced by offline stores. More importantly, we’ll discuss strategies to help traditional jewellery shops overcome these challenges and thrive alongside their online counterparts.
Table of Contents
- The Rise of Online Jewellery Shops
- Challenges Faced by Offline Jewellery Showrooms
- The Omnichannel Approach
- Digital Marketing Strategies for Jewellery Brands
- In Conclusion
- Frequently Asked Questions
The Rise of Online Jewellery Shops
The online jewellery shops have been gaining much attention of late. The global online jewellery market is projected to reach approximately USD 45.33 billion in 2023. By the year 2032, it is projected to be a huge USD 130.86 billion at an annual growth rate of 12.5%.
The term “online jewellery market” refers to buying and selling jewellery on digital platforms. Several factors based like consumer interests and technological advancement have aided the growth of this market at a fast pace, let’s have a look at them.
Boom in E-commerce
Growth in e-commerce worldwide has had a strong impact on the online jewellery market. People like the convenience of shopping online, where they can view a wide range of products, compare prices and shop from home.
Digital marketing and social media
Online jewellery businesses take help of digital jewellery marketing and social media to reach more customers. Online sales of jewellery get essential push from platforms such as Instagram and Pinterest, combined with influencer collaborations.
Customisation and personalisation
When it comes to online stores, it is possible to very easily personalise designs for customers according to their specific choice. This trend caters to individual tastes, thus creating a special shopping experience.
Safety in Online Transactionsn
The enhanced online security and secure payment gateways make consumers confident about spending higher amounts of money on buying jewellery online.
Global Reach and Accessibility
An online jewellery brand is not limited to just one city or region. They can practically target consumers across the globe. With this increased accessibility, the consumer base has expanded and international transactions are also taking place nowadays.
Comparability and Reviews
One can easily compare prices, check reviews and investigate brands while shopping online. This transparency helps in building trust while buying jewellery online.
Responsive websites and mobile apps
Due to the rising demand for smartphones, responsive websites and mobile apps have been developed to help customers browse and buy jewellery on their their own. If you aim to grow your jewellery brand, reaching out to a web development company is crucial, as having a strong website is an essential part of successful online jewellery marketing.
All these factors make the online jewellery market very dynamic and competitive, also giving it an extra edge in the industry. It has created and adopted several trends that, through effective jewellery branding, can be embraced to help a brand in the online or offline space succeed.
Challenges Faced by Offline Jewellery Showrooms
In a world where online shopping is becoming the norm, offline jewellery showrooms are facing some tough challenges. Let’s take a closer look at what these physical stores are up against.
Limited Reach
Physical showrooms can only attract customers from their local area. While they may have a loyal client base, they miss out on the global audience that online shops enjoy.
Higher Operating Costs
Running a physical store comes with high expenses—rent, utilities and salaries can really add up. Smaller businesses, in particular, may struggle to keep up.
Changing Consumer Preferences
Nowadays, many shoppers prefer the convenience of buying jewellery online. With just a few clicks, they can browse countless options without leaving their homes.
Product Variety
Online jewellery shops often stock a far greater variety than brick-and-mortar stores. Shoppers love having numerous choices and a limited selection can be a turn-off for customers.
Technological Integration
Some offline showrooms may find it challenging to embrace new technology. Without features like virtual try-ons or easy online bookings, they risk falling behind.
Brand Awareness
In jewellery branding, visibility is everything. Online shops can effectively use social media and targeted ads, giving them an edge in attracting customers.
Customer Experience
While in-person service can be personalised, online shops often offer interactive experiences that engage customers. Offline showrooms need to enhance their in-store atmosphere to compete.
As the jewellery market evolves, offline showrooms must adapt and find innovative ways to stand out. By understanding these challenges, they can create strategies that not only retain their loyal customers but also attract new ones in this digital age.
The Omnichannel Approach
Now, we fully understand the opportunities lying ahead for the online jewellery shops and several challenges the offline jewellery stores are facing. We, as a social media marketing agency, believe that an omnichannel approach can be highly beneficial.
The omni-channel approach involves the integration of both online and offline channels so that customers have a unique experience. This will enable the jewellery brands to leverage the strengths of the online platforms and create a strong brand presence.
For example, even an offline jewellery store can now have an online platform, that is, a nicely built website and social media engagement. They can now reach out to more users by putting information regarding their products and services online. It also attracts potential customers and retains them if they like shopping online. Big brands like Kalyan Jewellers and Tanishq follow a similar omnichannel approach where they expand their sales online and offline.
An online website can be developed to leverage the offline presence of a jewellery brand. On the other hand, social media sites like Instagram and Facebook can be utilised for posting collections of jewellery and engaging with customers to divert traffic to the website and the store.
Digital elements can be integrated to enhance in-store experience as well. For instance, ordering facilities can be provided through tablets or kiosks used in showrooms. By combining physical and digital experiences the customers might enjoy their shopping more than just online or offline approach.
Moreover, click-and-collect services enable customers to order jewellery online and pick it up in-store, thereby increasing footfall while giving them a chance to engage with the brand in person.
As a digital marketing agency in Mumbai, we have seen the power of omnichannel in raising customer satisfaction and sales. This is possible by using online and offline channels effectively by brands dealing in jewellery to create a cohesive and engaging customer journey.
Take your jewellery business to the next level
Digital Marketing Strategies for Jewellery Brands
Now that you know how the omnichannel approach works, let us delve deeper into the digital marketing strategies that can help you grow your jewellery brand. Here are some of the key strategies that turned out to be very effective for the leading jewellery brands.
Leveraging Social Media
Social media is a powerful tool for jewellery branding. Joyalukkas uses Instagram to showcase products in the most appealing light. The strong visuals and good content maintained the curiosity of the viewers, and more pictures and videos can be used to engage an audience on an online journey. A social media marketing agency does just this by making custom strategies that tend to point out all the exclusive features of your brand.
Email Marketing Campaigns
The second part explains that the best route to keep in touch with the customer is through email marketing. For example, Malabar Gold and Diamonds share emails on a regular basis, featuring their brand ambassadors Alia Bhatt and Anil Kapoor. All of these feature updates on new collections, promotions, and special offers. In so doing, they ensure their brand stays top of mind through the regularity of the emails. A proper jewellery marketing strategy would be to carry out personalised email campaigns that relate to the customers in the best way and definitely ensure repeat business.
Collaborating with Influencers
An influencer can run campaigns to give a prolific boost to your brand visibility. For instance, CaratLane recently collaborated with the trending fashion influencer Nancy Tyagi for her Cannes red carpet look and it turned out to be massive. This didn’t just increase their reach but also gave their brand enhanced visibility and association with prestigious event and personality. Influencer marketing engages the follower base that influencers have and helps build credibility as well.
SEO and Content Marketing
Building your own website and investing in it can attract organic traffic. For example: type in “buy gold bangles,” and it Tanishq will be right at the top in the search results. They have made investments in SEO and content marketing so that their products can be found easily online. By hiring the services of an SEO company, brands can easily rank higher on the search page.
These strategies can help create a fair playing field and give advantage to offline players as well. A digital marketing company will be able to help you create a comprehensive marketing plan which includes these strategies and even more.
In Conclusion
While online jewellery shops present a significant challenge, offline stores can still hold their ground with the right strategies. By embracing the digital landscape and integrating both online and offline approaches, traditional jewellery shops can attract and retain customers effectively. If you’re looking to enhance your jewellery advertising and stay competitive, reach out to us at hello@florafountain.com. Let’s create a strategy that ensures your jewellery brand shines in both the online and offline worlds.
Frequently Asked Questions
Vasim Samadji is a partner at Flora Fountain, where he leads the Business and Marketing Strategy divisions. In a world where everyone is used to sugarcoating, his directness is often considered rude. But that shouldn't be a problem if you like the no-nonsense approach. Because he is a seasoned professional...