Jewelry online saleS report 2020
Discover the wonder of jewelry & gemstones, online.
For the past few months, our AI algorithm has searched the web for the best upcoming trend and have classified online jewelry as a top topic. Due to Covid19, every brand wants to be the first to launch their own e-commerce, every gemologists has offered free webinars & education for all and every auction house wants to organise online bidding platforms more performant than each other. Our remote team of experts and our AI have analysed this emerging macrotrend and all the major actors they pretend to be. and turned it into actionable insight for you, for free.
- Online resellers are driving the growth of the pre-owned market well beyond what brick and mortar stores ever did before.
- The circular economy is another driver of the luxury resale growth, fuelled, in part, buy younger affluent generations and their desire for more sustainability.
- The popularity of limited capsule collections to increase luxury scarcity is also fuelling a large secondhand market of new or nearly new items.
- The durable and timeless nature of luxury goods makes them a good fit for the resale market.
- During Covid19, the jewelry and watch industry has dropped over 72% versus any other luxury industry. That makes the industry unpredictable during crisis and not ready to nurture its online sales channel just yet.
Discover the market & its pillar
Online resellers are driving the growth of the pre-owned market well beyond what brick and mortar stores ever did before.
- With the surge of needing money asap, 70% of customers are selling their jewels.
- Surge of new recommerce website: +20 in less than a year
- 50% more intuitive websites and marketplaces with speeding payments processes
- Average shipping shortened by 70% (3-5 days)
- 20K jewelry sold solely online in a month
The circular economy is another driver of the luxury resale growth, fuelled, in part, buy younger affluent generations and their desire for more sustainability.
- Buying jewelry online is all about storytelling. 65% of customers purchase a ring because of its green effect
- 40% of customers seek lab grown diamonds instead of natural diamonds, just because of its marketing explosion
- 17 new gold companies have surged the internet with a greener and better offer
- 30% of influencers have switched their business model to promoting sustainable jewelry, good for the planet
- 150+ webinars were hosted by major brands to promote sustainability and traceability of their raw precious materials
The popularity of limited capsule collections to increase luxury scarcity is also fuelling a large secondhand market of new or nearly new items.
- 30+ brands launched their new collection based on exclusivity
- 75% of established brands have launched collections revisiting the old ones. Take Cartier or Bulgari as an example.
- +20% is the increase of exhibitions happening around the world of jewels and its rich history. Take Van Cleef & Arpels or Chaumet as an example in Paris with the opening of the new historical museum few years ago, with a launch online in 2020.
The durable and timeless nature of luxury goods makes them a good fit for the resale market.
- 57% of customers prefer buying long-lasting jewels that will last generations to come
- Gold have shown to be a sure asset during crisis time
- Online jewelry resale market have grown 20% only because of its second life properties (jewelry can be reborn, revived)
- 80% of brands are now offering reviving service of their collection, online with a surge of
- One out of 4 customers buy jewelry because of the brand. The other 3 buy jewels because of its trendy beauty.
the best of the best
Top 10 Sales Omnichannel
- Discounted (Walmart)
- Specialised marketplace (Get diamonds)
- Bidding platform (eBay)
- Mass merchants (JC Penny)
- Department stores (Bon Marché, Harrods)
- Consignment services (Cudoni)
- Second-hand vintage stores (Diamantiques)
- Luxury pre-owned marketplace (Cornerluxe)
- Auction houses (1stDibs)
- Concept store
10 best concept stores ONLINE
- Vestiaire Collective
- The last line
Top 15 recommerce (buy & sell)
- Rapaport jewelry
- Tajan Auctions
- Vestiaire Collective
- Collector Square
- Christie’s / Sotheby’s
- Property Room
12 best keywords for your e-commerce
10 best services sold ONLINE
- Customised engagement ring
- Sell your jewelry
- Follow a trend
- Read great content
- Buy diamond
- Rent jewelry
- Find influencers
10 best perks for your e-commerce ONLINE
- Free delivery worldwide (+58%)
- Pay with coins (+48%)
- Save for later (+45%)
- Pick-up yourself (+41%)
- Free return (+38%)
- Insurance included (+28%)
- SMS Reminder (+22%)
- Sign up to our newsletter (+19%)
- Eco pack (+16%)
- Deliver nearby (+13%)