We wish you larger successes in 2022, bigger sales, and more joys both in your work and personal lives!
The holiday season is behind us. We hope you survived it with minimal battle scars and that you made the most out of it, as well. This year definitely has a lot in store already. Let’s take a look at some of the latest news.
Jewelry eCommerce News 📰
10% of Etsy sellers use TikTok to promote listings
A first in the eCommerce world, marketplace Etsy is actually encouraging sellers to promote their listings through TikTok. This came after surveying their sellers to find out how many of them were already doing so (10% they found out). So they teamed up with the social media channel and created a webinar on TikTok promotion strategies.
As a visual (video-center) platform, TikTok would be a great option for jewelry sellers to advertise on, as well. The relatively young audience there is also hard to reach on any other platform, giving sellers more opportunities to get found.
Amazon drops to 4th place in global ranking for shopping apps
While still first on the US market, globally Amazon has lost a few spots as the most downloaded shopping app. Shopee, Shein, and Meesho are now in the top 3. However, Amazon’s GMV numbers are still multiple times higher than all the other apps.
As a seller, this means that while Amazon is still a great platform to sell on, other marketplaces are coming strongly into the mix. We frequently talk about diversification and the importance of cross-channel selling. With mobile eCommerce on the rise, such applications should definitely be on your radar.
Fedex, USPS and other international shippers suspend multiple services
With the latest COVID variant spreading around the world and the current severe winter weather, more international destinations and services are being interrupted by multiple shipping companies. USPS and Fedex are just two examples. While the holiday season is over, holiday returns and sales are still happening in large numbers.
This can greatly affect jewelry sellers, particularly new or small businesses, as individual order quantities are small and the inconveniences may not be worth it for buyers. As a seller, you should proactively plan for and let customers know about possible delays in shipping and handling. Also, make sure to stay up to date with the latest news on this topic, as circumstances can change quickly.
Walmart InHome deliveries on the rise
30 million US homes – that is the number that Walmart is targeting with their InHome delivery services. Their current milestone is 6 million, which makes this a big leap. This service, made possible through smart apps, allows the delivery person to drop the package inside the home, bringing buyers the ultimate shopping experience.
Even though jewelry is still a small category in the Walmart catalog, most of the products are small, light and, therefore, easy to add onto larger orders. So sellers should still plan on listing their products on this marketplace this year and catch a piece of that 30 million buyers pie.
Demand for jewelry products has been increasing
If you thought that the jewelry industry is saturated and there is no more room for new sellers to enter, this news will prove you otherwise. Research is showing that necklace, earring and bracelets sales have been increasing (by 27%, 25% and 16% respectively), placing these categories among the top fastest growing in eCommerce.
This only tells part of the story. With marketplaces expanding in number and reach, and a lot of complementary products on the rise as well, the sales opportunities for jewelry are even larger.
UK Royal Mail to reduce 2022 shipping prices
In an attempt to help local businesses through this period, Royal Mail has decreased international surcharges and business contract products (e.g. tracking and signature services). They have also removed most temporary air carrier supplements, making shipping more affordable this year.
This can mean an opportunity for UK sellers to offer new promotions and sales, including shipping discounts. However, they should still keep in mind shipping restrictions caused by the pandemic and severe weather.
2022 Major dates for eCommerce sellers
The holiday season may be over but 2022 packs a lot of holidays and busy seasons ahead. For the US, MLK Day, Winter Olympics, Super Bowl, Valentine’s Day, and President’s Day are the next ones in line for the first two months. These come with both delays, due to office closures and high demand, as well as great marketing opportunities.
Jewelry has been a seasonal product line for decades and it will continue to be so in the foreseeable future. While trends like self-spending are quickly gaining traction, gifts will still be around. So mark your calendars and take advantage of all these holidays and events ahead.
2022 eCommerce experts’ opportunity predictions
Here are a few points eCommerce experts say that sellers should pay attention to in 2022:
- Consumers, especially young ones, are looking for goods that are both sustainable and meaningful
- Due to digital privacy, data-driven marketing is going to get considerably more challenging – brand messaging and content are the strategies to focus most on
- 78% of global consumers value the entire shopping experience over individual products or services, with live shopping becoming the hottest new trend
- Omnichannel / cross-channel continues to be a competitive marketing strategy in 2022
- Online stores will get crowded and customers will face choice overload, so it is critical to guide them to more easily find what they’re looking for
- Constant optimization of all business activities is important for staying competitive
Our Valigara online management software is already helping jewelry sellers stay on top of a number of these opportunities like cross-channel selling and listing optimization.
Social selling is set to reach $1.2 trillion worth of goods sold by 2025
According to a new study from Accenture, global sales made through social media in 2021 were expected to reach $492 billion. By 2025, that number can be as high as $1.2 trillion, with millennials and Gen Z users leading the way. More than half of past year’s social sales were done by small-to-medium sized businesses, and around 69% of shoppers would buy from the same seller again.
As a jewelry seller, one cannot ignore this growing trend. Jewelry items are perfect for social selling, as they can more easily be presented during a live stream or video. Instagram is now a standard platform for any jewelry sales. Augmented reality is Instagram’s bucket list too. Such virtual experiences, as well as branded products, are at the center of this social selling trend, and should therefore be prioritized.
The pandemic has increased cross-border sales
Shoppers from around 40 countries have looked outside their geographical borders when shopping for products online. Started in 2020, this trend has been increasing and 51% of these buyers plan to continue shopping from abroad in the coming years. Amazon is the marketplace attracting most of these sales, but all of them have been actively encouraging and promoting cross-border shopping.
Being so light, jewelry is an easy item to ship internationally, making it easier for jewelry sellers to take advantage of this trend. With 61% of cross-border consumers having received free shipping, this would be another incentive sellers should consider when selling internationally.
Igor’s Tip of the Month:
2022 stresses the importance of branding and brand awareness.
With that in mind, make sure that your social strategy supports your brand image, or that you create one if you haven’t yet. Also, use your existing client base and all marketing tools to create a ripple effect and multiply your brand awareness. Focus your marketing on the communities and spaces that your clients and ideal audience spend their time in.