5 Reasons Online Marketplaces Are Important for The Jewellery Trade

Thursday, 25 October 2018 16:39 Written by
Published in Jewellery App News

Online marketplaces - like Amazon and eBay -  are great places to sell but also take trade away from the independent jeweller in the High Street. The Jewellery & Watch Market is the industry's very own marketplace and will help bring trade back. 

What is an online marketplace I hear you ask? They are like a modern version of the shopping centre or a market in a town, but it's all online and on one website. They have almost become invisible to us as we get used to shopping on them, and the trend for online buyers is moving more and more to these types of website and away from the individual website. 


Online marketplaces - like Amazon and eBay -  are great places to sell but also take trade away from the independent jeweller in the High Street. The Jewellery & Watch Market is the industry's very own marketplace and will help bring trade back. 

Marketplaces can grow quickly, and, most importantly, they allow you to efficiently reach large numbers of new buyers that wouldn't have normally found you. They are a digital destination where buyers can discover new brands and products in numbers that can't be offered by individual companies. In short, an online marketplace is a website that brings together products from numerous third-party suppliers to attract large numbers of buyers.

1. Marketplaces Are Big
One statistic suggested that by 2020, 50% of all e-commerce will be via marketplace websites.

2. Marketplaces Are Growing
In addition to their size, marketplaces are growing faster than other e-commerce channels. Overall e-commerce grew 15% in 2016, but marketplaces grew by 19% and show no signs of slowing.

3. Luxury Brands Have Embraced Marketplaces
Think Amazon is too down-market for your jewellery? Think again. 34% of the top 1,000 online retailers also sell on marketplaces, and during the 2016 Christmas period, these luxury retailers had products available on marketplaces.

4. Consumers Trust Marketplaces
Establishing trust with a new customer is hard. Marketplaces help ease this transition. In fact, 65% of consumers that normally would not have purchased direct, will buy from a brand on a marketplace. This provides a unique opportunity to put your jewellery in front of new potential customers, with a higher probability that they'll convert to a sale.

5. Improve your customer experience
Retail customers want choice, competitive prices, and above all, an outstanding buying experience. A strong marketplace can deliver this in a true omnichannel, both offline and online.

No reason not to join. 

  • No contract
  • No monthly subscription
  • No tie-in period
  • Only pay when something is sold
  • Just 8% commision or 6% for VIP members

We'll even do the work for you. 

  • Send us your spreadsheet with data and we will upload it for you (you just add the images)
  • Connect and upload data via our API from any system

'By working together and selling together we can help support independent jewellers on the High Street so that everyone benefits' 
Daren Daniels, Partner in The Jewellery App.

Read 853 times Last modified on Friday, 26 October 2018 12:10
Daren Daniels

Partner & Sales Director, The Jewellery App.

Daren has over 20 years experience working in sales, with particular expertise in jewellery and technology. He has a vast understanding of stocking systems, the retail trade and the jewellery and watch market. Daren is well-connected throughout the trade boasting links with retailers, suppliers and manufacturers across the UK and beyond. Combining both his marketing and sales expertise with his ability to connect with people, Daren is a key asset to the future success of The Jewellery App. 

www.redblok.co.uk

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