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Big Survey

56% of Jewelers Have Made a Sale on Facebook

But even more have had success on their own website.

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NOTE: In descending order, “Others” included Podium, 1st Dibs, Amazon, Facetime, Shopify, LinkedIn, Chrono24.

ONLINE RETAILING WAS once the brave new world for independent jewelers, or to many, a frightening nemesis. But they are slowly adapting and a clear majority have now managed to complete a sale via their website or through another online platform.

According to the 2020 INSTORE Big Survey, Facebook was the No. 1 social media platform for successfully closing a sale, with 56 percent of jewelers completing a transaction on one of FB’s commercial channels, followed by Instagram (32 percent) and eBay (18%). Note that seventy percent of jewelers had managed to sell jewelry via their own website.

Fashion jewelry was identified as the category that sells best online, by 38 percent of the jewelers who sell on the net, followed by fine jewelry (18 percent) and engagement rings (14 percent). This was also reflected in the most popular price points for online sales with more than half of the jewelers, or 52 percent, saying items retailing for less than $500 sold best. That’s not to rule out higher ticket sales: 9 percent of jewelers said they had the most success with jewelry that sells for over $2,000.

Despite the virtual nature of online sales and the inability of the customer to touch the merchandise, few sent their purchases back with 95% of the jewelers saying their return rates for online sales were less than 10 percent.

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The 2020 INSTORE Big Survey was conducted from September to October and attracted the participation of more than 750 owners or managers of jewelry stores in the United States and Canada. For the full results, please look out for the November edition of INSTORE.

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

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If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

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