Get the Best out of Your Online Jewellery Marketplace Business

01/10/2020 4:59 PM

Online jewellery business is a huge market with immense growth potential. Studies predict that the online jewellery market world-wide will touch $ 34 billion by 2022. By launching an eCommerce store you can tap into this fast-growing market. With the world switching to the online mode of shopping and all business verticals opening eCommerce stores, why should your jewellery store be left behind? Besides an eCommerce store can reach out to the younger generation, where the majority are online shoppers.

However, before you kick start with your online jewellery marketplace, let’s see the key factors you should consider to launch an online store fine-tuned to the intricacies of jewellery business.

Set your online jewellery store the right way

As a product, jewellery puts forth a few unique challenges for eCommerce and while you build an online jewellery store these issues needs to be addressed.

  • Price variations - The price of jewellery varies widely. The eCommerce store requires multiple customizations to incorporate the price variations that happen for the karat of the jewellery, quality of the stones or its weight. Ensure that your jewellery eCommerce website has a dynamic pricing module where the daily rates of the metals can be inputted according to the purity levels. It should allow managing the prices based on multiple parameters like metal purity, weight, stone purity, and daily rate.
  • Seasonal traffic spikes- Peak seasons like festive occasions and Akshaya Tritiya brings a huge volume of traffic and requires an online jewellery marketplace that can match to this seasonal peak in traffic. While building your jewellery marketplace ensure that it can be scaled up to include the peak season traffic.
  • Customization and delivery - Customized jewellery orders are yet another challenge. To resolve this you need to ensure that the designs the customer might specify online are communicated accurately to the craftsman. This is essential to ensure fast manufacture of the jewellery and processing of orders.
  • Marketplace integration- Your store should seamlessly integrate with the orders received through Flipkart and Amazon and ensure smooth processing and delivery.
  • Promotions and marketing- For a successful online business, hardcore marketing and promotions are vital. So, when you build your online jewellery store keep the promotional aspects in view. You should be able to execute the various strategies like catalogue promotion, email marketing, cart promotion, abandoned cart promotion, order processing, product mass update, and also get useful reports and analytics. You can include gift cards in your jewellery website by integrating with any popular gift card provider. This way you can encourage your customers to gift your jewellery.
  • Payment and shipping integration - Another crucial factor that makes or breaks your eCommerce store is a secure payment gateway. Provide a seamless integration of your store with the leading payment gateways. Also, integrate your store with the shipping service providers to ensure fast delivery of the products.
  • Same day delivery - Providing fast delivery is a matter of goodwill and can boost your loyal customer base. You can provide your customers with same-day delivery by processing the order from the nearest outlet. The eCommerce website must have a consolidated stock of the inventory of all your showrooms so that the product can be pushed off from the nearest location. Additionally, you can include a functionality to allow the customers to view the multiple prices of a product at different outlets. Using this a customer can choose the best price for the product from the nearest store and get a same-day delivery.

For getting the best out of your jewellery eCommerce website, we recommend that you use a jewellery website builder with advanced features and capabilities. A fully functional jewellery marketplace should allow you to incorporate the price variations of metals and stones. It should also handle customized orders and provide a secure payment gateway. A good online marketplace would also take into account the marketing requirements of the business as well. While choosing a jewellery website builder, you verify its ability to support fast delivery.