"Where all think alike, no one thinks very much. "
- Walter Lippmann
In today’s fast-paced online world, the feasibility and accessibility of online businesses have reached their zenith. It is always a better idea to invest in an online business initially than starting a physical store as you will be able to reach a wider audience.
With the right plan, and with a minimum initial budget you can easily create an online jewellery store for your business.
So here’s the low-down on how to create an online jewellery store :-
Inspecting the waters is essential in any new venture, especially when it comes to a business that is as customer oriented as a jewellery business. With varying styles and trends that come and go in the fashion jewellery industry it is important to know what kinds of products are in demand, which are the most profitable and in which sphere of the market. This gives a clear picture of the types of products you should focus on promoting and what demographic you should target the most.
Creating your own Website
This will launch your online store as it will give you your own domain to freely customize and make it unique to your brand. Designing a unique and engaging website layout is essential for potential client revisits and it should have a visual appeal to attract customers to your online jewellery store.
Although this option gives you the freedom to customize and be free of the competition that runs in online marketplaces, it can prove to be an expensive option, as there is an added development and separate marketing cost that comes along with creating your own website. Thus it is advisable to go for this option after you have established a strong base of customers.
Venturing into an Online Marketplace
An online marketplace is a platform where you can use the customer base of the marketplace to sell your jewellery under your business name. It is a cost effective way to sell your products online because a marketplace is a pre-existing website, thus the cost of development and maintenance is absent, along with this a marketplace also a good opportunity to find more buyers for your jewellery business.
Preparing a Product Catalogue
A visually attractive product catalogue is very important, especially in a jewellery business as the more attractive your jewellery is the more attention it will grasp. For an attractive and effective product catalogue, all your offered products should be categorized, and displayed with accurate and attractive product images, an engaging and appealing description along with a reasonable price.
While coming up with the catalog it is better to showcase the items that are more relevant to current jewellery trends on the top, thus generating more interest towards the brand. Product images should be accurate to the actual product and eye-catching at the same time. This attracts the consumer and instills authenticity. When it comes to price, to ensure that there is minimum loss, always price your products keeping in mind its making cost, delivery charges and your profit also it is important to keep in mind the price of similar products on competing web platforms.
Marketing and Advertising
Marketing and Advertising plays an integral role in determining whether your online jewellery business sinks or sails. Having a strong marketing strategy aims at pulling in a wider consumer base. More the visits, more the business potential.
In the ever-expanding realm of social media new trends keep popping up especially when it comes to fashion and jewellery, advertising on social platforms like Instagram, Facebook, Twitter, etc. can play a big role in reeling in customers as there is a huge base of people who browse for jewellery, and with social media marketing chances of them being directed towards your jewellery products increase. One more efficient way of advertising online is through email marketing. Running email marketing campaigns are easy to do and accessible enough to get the attention of customers.You can do so by coming up with newsletters, or catalogues that are catchy and attract consumers towards your jewellery brand.
Selecting Modes of Payment
After setting up your online business it is important to set flexible channels of receiving payments so as to ‘keep the money rolling in’. For global transactions, the most preferred modes of payment are through credit, debit cards and platforms like PayPal. Local transactions may include modes like cash on delivery and UPI payments.
Keeping flexible channels of payment creates an ease of access for the customer and builds a preference for your brand.
Setting Shipping Methods
To ensure customer loyalty it is very important to set a safe and efficient shipping and delivery system. To minimize the shipping costs make sure the packaging is sufficiently sized and also that the enclosed product is safe from potential damage. A reliable and budget-friendly courier service plays an important role to ensure that the product reaches the consumer on time and is undamaged.
Tracking and Updating Stock Regularly –
Tracking and updating your inventory of trendy jewellery is very important when you start making sales, regulating stocks and making sure you send the right quantity of products to the consumers. This will help you figure out which particular jewellery products make the most profit and also help you keep track of them so that when you are running low you have enough time to replenish your stock and avoid missed sales opportunities.
For an online jewellery store to thrive it is really important to plan and organize, and to have an active plan of action. These steps are basics that will help you establish an efficient online selling platform for your artificial jewellery business.