We’re back with what we think may be important for you in this month of May (😉 what can we say, we’re feeling punny this month)
We also want to throw the ball back in your court for a minute and hear what other categories of information you’d like us to bring you through our newsletter. Or if you feel inclined to share with us your successes and lessons, we’d be happy to highlight them in our next newsletter. So let us know! We’d love to hear from you.
Jewelry and eCommerce News 📰
Amazon FBA creates a workaround for sellers who also list on eBay and Walmart
Amazon has announced updates to their multi-channel fulfillment services, including the option to block orders from being shipped by Amazon Logistics for a 5% fee. The new changes might be attractive for jewelry sellers who list products on eBay and Walmart – marketplaces that prohibit the use of Amazon logistics.
Walmart is adopting a Prime-like strategy
Logistics are a crucial part of jewelry eCommerce and affordable fulfillment charges are a must-have, especially for the fashion jewelry industry. Walmart is hoping to attract more sellers to use their fulfillment services (WFS) by growing their selection of members-only free shipping products. This would, in turn, attract more customers to join their membership program and eventually lower fulfillment prices.
Amazon on its way to becoming the top retailer in the US
Amazon, being the number one eCommerce marketplace in the US, has ambitious plans to overtake Walmart as the largest retailer in the country within the next four years. It will achieve this status through Omni-commerce, the combination of online and offline sales. As people rely more on online purchases, brands will also need to embrace this trend.
Knowing the numbers, trends, and customer base is crucial for running a profitable online business. eBay received praise for the seller tools they released in 2020, especially after acquiring the analytics tool Terapeak in 2017. Now, they have announced that sellers no longer need a store subscription to access the Terapeak product research (quick happy dance).
The year 2020 has seen an unprecedented rise of online marketplaces which has sped up the development of logistics. Many logistics companies are looking into optimizing their services and resources through robotization and sustainable solutions. This report is a nice summary of the latest news on logistics, mainly touching the European markets.
Last year has brought even more progress and development for US eCommerce businesses than ever before. But this may only be the beginning. This eMarketer’s report presents the US eCommerce sales forecast by product category and projects expectations for 2021. It is expected that apparel and accessories will see a growth of 18.9 % in 2021.
eBay is planning to launch new customization features to reduce friction between buyers and sellers. This new process was already successfully launched in Germany in July 2019.
News from Valigara 👀
Congratulations are in order as Valigara is now a member of the Canadian Jewellers Association! (claps) And at the end of last month, we had a webinar for all the members, where we dove into the idea of how there is no “one-size-fits-all” method for going into eCommerce. One has to look at the size of their business, the type of products, and the audience they’re planning to sell to. To get the full scoop on this concept, you can watch the entire webinar here.
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: Fashion Jewelry? Start thinking Logistics.
“Obviously, decent logistics are critical. That being said, they are more important to consider for some jewelry categories than others. The reason is simply that, when it comes to expensive jewelry, all eCommerce players are able to provide good logistics easily. If you are selling fine jewelry within a $2,000 – $5,000 range, you can easily provide great free overnight delivery without much additional cost. However, for those selling cheaper items, that is a lot harder (and therefore rarer). Because of this, especially in the fashion jewelry world, a great logistics component can bring about more opportunities and help one stand out among their competitors“