Yes, we too have seen the record-high temperatures this summer across the Globe. So since you’re likely indoors, hunkering down in your AC-equipped space, we thought you’d also like to read about the latest news in the jewelry eCommerce world.
But this doesn’t have to be a one-way road; if you have news that others in our industry could benefit from, then use our newsletter as an opportunity to spread the word! Reach out and let’s bring your newsworthy bits out to light.
Jewelry eCommerce News 📰
You now have 82 new options to the Gemstone type attribute on Etsy
Etsy regularly updates their categories and attribute options based on seller and customer feedback. Their latest update gives jewelry sellers the ability to choose new gem categories for their listing, including Alexandrite, Hematite, Howlite, Mother of Pearl, and Spinel. With marketplaces having such updates frequently, it’s important to have an automatic, synchronized method to update your listings without redundancy or time waste. Valigara can help.
eBay changes the “Fast ‘N Free” shipping badge to estimated delivery times
Shipping is big in the jewelry eCommerce world, and eBay is one the most important channels for jewelry sellers. That is why this move to showing specific delivery times on listings shouldn’t be overlooked. Price and shipping are the most influential factors in a customer’s decision-making process. By making options even more transparent (from “Fast ‘N Free” to “Fast 2 day shipping”), eBay is increasing marketplace trust and, hence, increasing sales quantity and speed as well.
Instagram will start prioritizing videos over pictures
Instagram has recently announced, to the dismay of many, that it will start following market trends and focus on suggesting full-screen videos over pictures in users’ feeds. This move was triggered by TikTok’s popularity and Instagram’s need to stay relevant. While pictures are not fully going away, if you’re looking to compete on this social media platform, it might be time to upgrade those video skills.
Fine jewelry is moving to eCommerce
For the longest time, fine jewelry was a category that required a certain ritual of seeing and touching the products prior to purchasing. According to a recent report by the Business of Fashion Magazine and McKinsey & Co., this is no longer the case. In 2019, prior to the pandemic, fine jewelry generated around 13% of its sales online. That number is expected to increase up to 21% by 2025, a speed much higher than what the niche has traditionally seen in past years.
Marketplace performance review
Mirakl, a leader in helping businesses transition to platform business models with a focus on eCommerce, has recently published a report summarizing the performance of more than 60 online marketplaces. Some of the most interesting discoveries they made include:
- 47% of sellers use 2 or more marketplaces
- marketplace sellers’ refund rates are nearly half of those in their offline respective categories, across all eCommerce niches
- 36% sellers have only joined enterprise marketplaces in the last 15 months
How far will the men’s jewelry market grow
With traditional gender stereotypes getting more and more blurry, clothes and accessories trends have been crossing over from one category into another. Today’s men’s jewelry market goes far beyond watches and wedding rings, and it has been constantly evolving. This cultural shift has been heavily influenced by celebrities like Harry Styles and Jake Gyllenhaal, who have redefined the meaning of “masculine style.”
News from Valigara 👀
Valigara is doing a lot of behind-the-scenes work this month, preparing for new features and events. We’ve given you some hints about our plans in our last newsletter, but there’s more.
First off, do you remember the annual JCK Las Vegas luxury trade fair? It’s happening again but in August this year (instead of the usual June)! So our wheels are turning and heads are spinning to prepare the logistics of attending this event… because we wouldn’t miss it for the world! Are you coming? If so, feel free to visit us or book a meeting with us from now. You’ll find us at booth #600063 at the Venetian Resorts and Sands, from Aug 27-31.
Also, if you like the information in this newsletter, you’re going to love our blog page. Our most recent article talks about succeeding on eBay as a jewelry seller. So hop on over to our blog and check it out:
Igor’s Tip of the Month:
You snooze, you loose
“We all know the story of Xerox, Nokia, Kodak, and Blockbuster… four iconic brands that went bankrupt because they didn’t keep up with the times.
In today’s digital world, innovation is happening at a fast rate. So you can’t skip the news or not follow the latest trends. As a jewelry seller, it’s also important to keep up with new marketplace changes (eBay, Etsy, Walmart, Amazon, etc.). Optimizations, new regulations, new opportunities – all of these happen week after week and you don’t want to fall behind.
One way to avoid that is to keep reading our newsletter. We do our best to scour the web in search for the newest and most relevant updates.“.