The baby boomer generation, which dominates retail jewelry sales, is slowly approaching or reaching retirement age, and is a major reason for the growth of online retailers. This generation is very internet savvy and will look for the best deal over loyalty to local stores, according to Peter Gasca. Despite the emergence of online retail, nearly every big-box retailer has an online presence, and eBay and Amazon are still very successful. In 2016, more than half of consumers made their purchases online, up from 48 percent in 2015.
Whether online or brick-and-mortar, online jewelers offer the same quality and customer service as their brick-and-mortar competitors. Using the Internet to shop for jewelry is convenient and saves time. Many people are too busy to visit multiple retail locations. In addition to savings, e-commerce allows shoppers to compare prices at different sites. Ultimately, this gives consumers more purchasing options while keeping costs low. As a result, brick-and-mortar retail jewelers are slowly becoming a thing of the past.
Despite the decline in brick-and-mortar retail jewelers, online and offline retail jewelers continue to provide the same quality products and services. Moreover, the digital world has changed the way we shop, and we now have a more convenient way to compare prices. Consequently, brick-and-mortar retail jewelers will soon join the hundreds of other brick-and-mortar retailers that have already closed their doors. However, the benefits of online and offline jewelry shopping are far outweighed by the differences in cost.
In spite of the growing competition, consumers can still find a brick-and-mortar retailer. The biggest advantage of online retailers is their affordability and ease of use. Compared to brick-and-mortar retailers, online jewelers have lower overhead costs. Therefore, prices are competitive and the prices can be found within every budget. So, when shopping for jewelry, the online option is the best choice for everyone. This way, the customers get the best value for their money.
A key difference between brick-and-mortar and online retail jewelers is the level of service. During your visit to an online store, the customer will be able to ask for their help. This is an added advantage to online retailers since they have experienced lower overhead. A good retailer is one that focuses on the customer and not on price. When it comes to jewelry, the consumer wants it to be affordable and to have it delivered quickly.
The online market has many advantages, especially in terms of pricing and convenience. Regardless of the size of your business, the online retailer should have the same quality of products and excellent customer service. It is important to remember that the online market has more competition than the brick-and-mortar one. In the US, the biggest 50 jewelry retailers account for 45% of the industry. The growth of the online market has also led to a significant decrease in the number of brick-and-mortar jewelers.
