Jewelry eCommerce News – February 2021

Keeping up to date with industry news is super important, but also quite challenging with all the work on your plate, managing your jewelry business.

We’d like to share with you some of the interesting Jewelry and eCommerce news we’ve gathered from the previous month. We hope you find it useful! Let us know if you’ve got any feedback to make our newsletters even better.

Jewelry and eCommerce News 📰

Instagram is transforming engagement rings buying experience 💍📷

While #jewelry giants have reported weak sales, millennial-run businesses with vibrant Instagrams are shaking up the engagement-ring market and reshaping the multi-billion-dollar industry. Find out how new designers are using Instagram to improve sales.

 

Invasion: The Rise of the Bejeweled Robots 

Robots have suddenly burst into our lives, and jewelers from around the world have designed articulated products that are distinguished by playfulness, tactility, and originality. Get inspired by the globetrotting jewelry aficionado journalist Katerina Perez.

https://www.katerinaperez.com/articles/Invasion-The-rise-of-bejewelled-robots

Reduced spend on travel creates a significant opportunity for jewelry 

At a time when we see a hard stop on travel, and 70% of consumers are saying they have changed their shopping to opt for “timeless classics” over “new trends,” jewelry consumption might increase. This and other trends are available at De Beers Group Diamond Insight Flash Reports.

https://www.debeersgroup.com/reports/insights/diamond-insight-flash-reports

4 Steps to Turn Web Browsers into Buyers  

Combining the online and offline worlds is critical. Facing some “technical difficulties” to translate your in-person relationships into the virtual world? This Instore Magazine article presents practical tips for converting online browsers into buyers.  

https://instoremag.com/4-steps-to-turn-web-browsers-into-buyers/

Online jewelry sales up 44.6% this holiday season, Mastercard says 

Though overall jewelry retail sales were down 4.3% this holiday season, e-commerce sales boomed, rising 44.6 %, according to Mastercard SpendingPulse.  

https://www.nationaljeweler.com/independents/retail-surveys/9566-online-jewelry-sales-up-46-this-holiday-season-mastercard-says

Pearl Trend – Explodes as VP Harris Takes Office 

Pearls have been trending for some time, but since US Vice President Kamala Harris was seen wearing pearls accessorizing on the campaign trail, customers are clamoring for different types of pearl jewelry. Get inspired by a range of styles:

https://instoremag.com/pearls-a-plenty/?slide=1

News from Valigara 👀

Valigara is Managing Jewelry Inventory Worth $1.2 Billion 

Just a few months ago, we were excited to see that Valigara clients are managing an aggregate active inventory of $1 billion. It took us some time to grasp this tremendous number, and within a few months this number increased by $200 million!
We’re super happy for our customers’ growth, which reflects the positive market trend, the demand for their beautiful jewelry and diamond products, and also – we hope – the fact that Valigara Online Jewelry Manager does what it’s supposed to do – help jewelers grow sales!

Igor Nusinovich tells Jewelers of America about Getting Stronger Online 

While retail jewelry stores were down this holiday season, online jewelry sales increased 46 percent compared to the previous year. This is the jewelry eCommerce era, and jewelers and brands need to adapt their marketing, sales and operations to capture the opportunity.

In a webinar to the Jewelers of America members, Igor Nusinovich, Valigara’s CEO and a global jewelry eCommerce expert, shared practical tips on how to improve website selling and online presence, so that sellers’ jewelry brands will shine online in 2021! Watch the webinar’s recording here:

https://www.jewelers.org/ja/events-news/jewelry-industry-events-calendar/1155-digital-academy-growing-stronger-online-the-jewelry-ecommerce-era

Register for March’s Jewelry eCommerce Webinar: Going Multi-Channel

Join us for our monthly Jewelry eCommerce Webinar series to learn about multi-channel aspects in jewelry eCommerce. In this expert session, Igor Nusinovich will answer a lot of the questions that jewelers and dropshipping experts are dealing with:

– What are the main differences between single-channel selling and multi-channel eCommerce? Are all online channels equally good for my jewelry? How do I identify the most relevant channels for my products? How can I make the switch to a multi-channel operation? How do I synchronize my online channels, listings and inventory? What’s in multi-channel beyond my website and leading marketplaces?

https://webinar.valigara.com/march-2021/

We also held another webinar at the beginning of this month addressing Product Information Management and its role in the success of an online jewelry business. We looked at all the “w-questions” around it, specifically what it is, why it’s important, and how to use it right. If you’re curious about all the nuggets of wisdom we shared in this webinar, you can access it here.

Igor’s Tip of the Month: Managing Your Online Presence

“Taking your jewelry business online is first of all about managing the operations. Things do not just happen. If you want to succeed online, make sure you allocate at least a part-time position to handle the strategy and execution of eCommerce. As your online presence and sales grow, expand your team to complete all the necessary skills for your online operations.

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