As the dazzling world of online jewelry shopping continues to sparkle, with global e-commerce jewelry sales projected to reach $39 billion by 2025, savvy retailers must address the glittering array of customer pain points to truly shine in this competitive market.
Key Takeaways
- Lack of physical interaction is a major pain point in online jewelry shopping, which can be addressed through detailed product descriptions, high-quality images, and 360-degree views.
- Size and fit concerns can be mitigated by offering virtual try-on tools, size guides, and easy return policies.
- Trust and authenticity issues can be resolved by providing certification information, customer reviews, and transparent policies.
- Limited customization options can be improved by offering personalization tools and clear communication about custom orders.
- Implementing these solutions can significantly enhance the online jewelry shopping experience and increase customer satisfaction.
- Retailers should focus on creating an immersive and informative online environment to bridge the gap between physical and digital shopping experiences.
Running a jewelry e-commerce store may be among the most lucrative business options today. This virtual market is swelling substantially, at the rate of 13.8% every year till 2030. Such growth, at least in part, can be attributed to the rise in digitization during the pandemic.
While the marketing grounds are statistically fertile, the industry has not bounced back to normal. In other words, online jewelry retailers continue to struggle in matters of customer pain points. E-commerce giants like eBay and Amazon are reaching new delivery milestones by the day.
The latter big shot’s latest upgrade was the Prime Air delivery via drones introduced in October 2023. This delivery model will become fully operable across three US cities by the end of 2024. Amid such tough competition, how can online jewelry retailers address customer pain points? By identifying their context first!
This article will do the heavy lifting on your behalf. We will discuss four common customer pain points of purchasing jewelry online along with solutions to overcome these issues.
Hesitancy with Buying Something Expensive Online
When it comes to fashion products like apparel, the customer can resolutely cast their vote. The same is not easy since we speak of spending hundreds or even thousands of dollars on jewelry. Indeed, physical jewelry stores may not have as many options as can be found online.
Conversely, the virtual marketplace is also infamous for cyber threats and fraudulent actions. Hence, this dilemma is not as simple as an online retailer promoting a campaign to “pick your favorite one” from hundreds of jewelry options.
Customers must have complete trust in the brand, its payment gateway, as well as the quality of the jewelry. If they are apprehensive about any of these, it can be a major roadblock for ethical and reliable retailers.
Our Take on the Solution: If customers see that the brand is willing to allow them to test the gold’s purity at home, they may feel reassured. Moreover, a 100% money-back guarantee wouldn’t hurt either.
To build further trust, consider aggressively flashing your company’s certifications. If you already have a decent social media presence, that will be the added cherry on top.
The Dubiety Surrounding the Jewelry’s Price
The modern customer expects attractive discounts and savings even when it comes to high-ticket items like jewelry. This was a major strategy Amazon and Alibaba used to grow their market shares over the years.
No wonder outrageously low prices have become the standard consumer expectation. It is important to remember that customers in search of discounts may sacrifice rationality in the process. In other words, we perfectly understand that online jewelry retailers cannot hand out random discounts.
The price of gold is typically set by international standards and cutting down on service charges may not be the affordable option. As e-commerce retailers try to keep their businesses afloat, skepticism around high jewelry prices has become a major challenge.
Our Take on the Solution: Retailers need to find a middle ground. How can they maintain profits yet make customers understand their stance? One effective way would be backing their price ranges.
Leibish states that it’s important to keep an eye on price trends and appreciation over time. You best believe your customers are doing their due diligence.
Another way is to feature extremely rare and unique jewelry or designs. An example would be natural green and pink diamonds for rings and necklaces. The rarer a gemstone or metal is, the higher its price.
Customers know this and may even show greater trust in the jewelry’s quality if the price aligns with the rarity of the product. When possible, consider extending discounts as they will undoubtedly entice customers to purchase more.
Delays in Order Processing and Delivery
Another customer habit subconsciously nurtured by giants like Amazon is fast delivery like same-day or last-mile solutions. Fret not! Your customers are certainly not expecting you to outdo or even match this level of efficiency.
However, they do wish to have their desired jewelry pieces delivered quickly. Sadly, slow delivery times are still a prevailing problem in the retail industry. Some online store owners take their own sweet time to have the jewelry pieces delivered. If slow delivery becomes a pattern, customers will associate this with a lack of professionalism.
Our Take on the Solution: Perhaps there is a certain number of days you need for proper packaging and pick-up. That is fine but consider teaming up with reliable delivery partners for accelerated last-mile solutions.
You can even walk in Amazon’s footsteps. If you haven’t yet, start a membership program for customers to sign up. Then, you can prioritize those deliveries. As for the others, provide a specified timeline (with a day or two extra in hand).
Now, stick to this timeline no matter what. Just let your customers track their orders for increased credibility.
The Absence of Try-and-Buy Feature
Customers are not just looking for practical ways to enjoy their new jewelry. They want it to have an aesthetic appeal to them. This is usually only possible with brick-and-mortar stores that allow their customers to try the item before buying.
From the customer’s perspective, this pain point is a legitimate one. Jewelry, be it gold or gemstones, requires considerable investment. Nobody wants to be disappointed after they’ve spent their dollars and waited a couple of days for the product to arrive. The virtual world offers plenty of scope but not much to mimic the physical store in this sense.
Online retailers will have to invest in costly infrastructure or they may have to spend on safe transportation and security arrangements for in-home product trials. In a nutshell, these are not viable since we are talking about precious jewelry here.
Our Take on the Solution: Thankfully, there is a way out that is also a worthwhile investment. Online jewelry stores can integrate Augmented and Virtual Reality into their storefronts. Using AR, potential customers can superimpose the jewelry pieces with their phone’s camera.
Statista found that those from emerging countries were extremely excited about these technologies. They are the closest experiences you can offer to the traditional try-and-buy feature. In terms of jewelry, it will work and attract greater customer attention.
To sum up, the younger demographics optimistically look up to purchasing their jewelry online. Studies have found that millennials have shown greater enthusiasm when compared to Gen-Z. This populace is open to taking some calculated risks and wishes to have more options to choose from.
As for the others, online retailers can apply the solutions discussed in this article to gain trust. Digital proficiency is no longer just an option. It can be difficult for an industry that has largely been brick-and-mortar.
However, small steps can lead to massive and lasting changes. So, it’s time to redefine each customer’s pain point and make it your greatest strength.
