Utilising Online Stores

Creating jewellery is just the beginning process of a successful business. Selling the items will ensure that you make money from them. Modern retail is mainly focused on the internet. Many jewellery sellers utilise online stores. However, there are both pros and cons to this business model. Whether or not online stores are right for you will depend on several factors.

Pros

It is undoubtedly much easier to set up a business online than with a physical store. You will not need to have a high level of technical expertise as eCommerce is as simplified as it has ever been. It is also the cheapest option available. An online marketplace will charge much less than a high street property owner. You also will not have to worry about the decor, displays, bills or insurance that come with a bricks and mortar store.

The threat of theft is also significantly minimised. Everything is digital, so people are unable to shoplift your jewellery items. Physical stores have to close at the end of the day too. However, online ones can continue to sell products all day, every day. You do not even need employees. It is all automated, allowing overheads to be cut. Customers from all over the world can be reached, meaning you can develop an international pool of clients. This is perhaps the best thing about online stores; the number of people who can learn about the business and buy items from it.

Cons

The biggest issue is that the marketplace where the store is being hosted will end up taking a cut. Fees from third parties can often be unexpectedly high. There is also much more competition than on the high street. Anyone can set up an online jewellery store, and therefore, newcomers will have to distinguish themselves quickly.

Business owners will find themselves having to do a lot of administration. This can include updating product descriptions, posting items and taking photographs. Despite the convenience of eCommerce, these tasks can end up being much more time consuming than merely displaying products on shelves.

The decrease in direct customer contact can make it harder to engage with new clientele. For this reason, an online store will not inspire the same level of brand loyalty as their bricks and mortar counterparts. When a high level of sales does occur, the owner will have to pay out more in shipping costs. This can be significant for jewellery postage, as the items tend to be both delicate and expensive.

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