The jewelry market has grown tremendously within the past few years and is estimated to be worth 19.88 billion dollars by 2024.
Oh, and in case you didn’t know, the jewelry industry is extremely competitive if you are selling jewelry online.
Boosting sales relies not only on what types of sales strategies are used but how far your company has tried to reach the new customer market.
One of the most simple and efficient ways of doing so would be advertising the product on a popular online jewelry store.
In this article, we will look at some of the top marketplaces where you can sell jewelry online.
8 Marketplaces to Sell Fashion Jewelry Online
1. eBay
According to Similarweb, eBay is ranked number one among the top-selling e-commerce platforms with around 690 million visitors a month.
It takes second position among the US e-commerce and shopping marketplace.
For jewelry retailers who are using fine jewelry, eBay is one platform that has a multitude of opportunities.
Here are some key pros and cons of using eBay for jewelry sales:
Specifications:
Cost: 9-15% of Sales Value (Costs for listing may also alter this) Free Shipping: Yes Minimum Value: None
Pros:
▪️Sellers can expand their jewelry business since eBay provides international exposure.
▪️Change pricing with a flexible auction-style listing.
▪️Comprehensive seller tools and analytics are offered to help track performance.
▪️Custom storefronts integrated with the users’ brand.
▪️An easy-to-use mobile app that caters to the current e-commerce ecosystem.
Cons:
▪️Intense competition due to eBay’s fame.
▪️Multiple fees and other expenses may reduce the seller’s profit margins.
▪️Constant policy updates may force changes in selling strategies.
2. Etsy
Etsy is a go-to platform for selling handcrafted innovative jewelry pieces.
It is in 4th place in the US e-commerce rankings and attracts around 500 million unique visitors every month while generating close to a billion dollars a year.
Because of these numbers, Etsy is popular among jewelers, with its pros and cons stated below.
We will now present you with the pros and cons alongside the specifications for Etsy.
Specifications:
▪Cost: Cover listing costs, transactional and payment processing fees.
▪Free Shipping: Orders above $35 at no charge.
Minimum Value: No minimum orders.
Pros:
▪️A go-to platform for artisans and crafters to sell jewelry pieces due to its niche focus.
▪️Has community support, forums, and resources to help sellers connect to exchange information.
▪️Reputable marketplace for uniquely crafted goods.
▪️Helps sellers expand their business by giving them a chance to reach international customers.
▪️Both sellers and buyers have a straightforward experience on the platform.
Cons:
▪️Profits may be impacted by various charges.
▪️Limited storefront branding and customization possibilities.
▪️Intense competition as a result of the platform’s branding.
3. Amazon Jewelry Store
In the United States, Amazon holds the title for the most used e-commerce market, ranking seventh across all niches around the world.
Amazingly, it attracts 2.6 billion users each month which translates to enormous opportunities for sellers.
Moreover, although Amazon is not jewelry-centric, the platform’s notoriety and reach can present jewelry sellers with great chances if effectively marketed.
Specifications:
▪Cost: Free until 20% of overall sales value is reached
Pros:
▪️Wide Customer Reach:
There are limitless selling prospects owing to the large audience that Amazon has.
▪️Brand Expansion:
Sellers gain further reach by operating in various countries where Amazon is accepted.
▪️FBA Program:
Sellers’ only worry would be running their jewelry business as FBA handles all storage, packaging, and delivery services.
▪️Trust From Customers:
Selling jewelry on Amazon ensures most buyers buy because Amazon is a reputed marketplace.
▪️Marketing Through Amazon:
Marketers do not have to spend more effort as Amazon has different tools that help suppliers reach their target customers.
Cons:
▪️Costly Fees:
Compared to other marketplaces, Amazon charges retailers much more which takes away a large chunk of profits.
▪️Strict policies:
Pace has put in place tough rules regarding the quality and authenticity of the jewelry sold.
▪️Limited branding:
Sellers possess substantially fewer personal branding opportunities than they would on their websites.
4. Walmart Jewelry Stores
Walmart jewelry stores are the shops owned by Walmart which is one of the foremost multinational retail companies.
It is one of the biggest e-commerce sites in the world and jewelry contributes around 6.5 percent of its total sales.
Every month, it gets around 517 million users on its site, making it the third most visited online marketplace in the United States.
For jewelry makers, Walmart presents a great chance to market and sell jewelry business, enabling you to sell jewelry from your house easily.
Specifications:
▪Fees: Up to 20% of sales value Free shipping:
Does not apply Minimum value: Does not apply
Pros:
▪️Walmart is a reputable marketplace with a large trusted clientele so sells successfully.
▪️It boosts the credibility needed to sell jewelry online.
▪️Sellers earn commissions, making the marketplace even more beneficial for Walmart.
▪️There is a possibility to sell stock in a physical shop or online increasing sales.
▪️Walmart takes care of the shipment making it easier for sellers.
Cons:
▪️There are stringent requirements for third-party applications and approval for sellers.
▪️Sellers face limitations when it comes to branding and personal touches.
▪️Your business strategy can be affected by changes in policies done without notice.
6. Facebook Marketplace
Facebook Marketplace is a buying and selling feature available on Facebook, the world’s most used social media platform, where users can list and sell items like merchandise, clothing, and even jewelry.
This exposes jewelry sellers to powerful buyers from all around the world, considering there are over 16 billion visitors monthly.
Pros:
▪️Local transactions are made easy, making the platform great for sellers looking to get in contact with nearby customers.
▪️Sellers only need to take a picture of the item and arrange an in-person sale right in the community, making the transaction convenient to both parties.
▪️Sellers do not need to spend money listing the products which means more profit for them.
▪️Trustworthiness is added since buyers can see your Facebook profile and so, can check your ratings before purchasing.
▪️Communication is direct between the buyers and sellers leading to higher engagement.
Cons:
▪️Since this is a peer-to-peer selling platform, it is easier for fraudsters to take advantage of victims since there is minimal verification of both parties.
▪️The platform is only used locally, making scaling between countries very hard.
▪️Payment is typically done in cash which limits the options for the buyer.
7. Bonanza
The 52nd most popular seller on eCommerce websites in the US, Bonanza is an established marketplace for selling jewelry.
Bonanza has an astonishing revenue of over $100 million alongside a user base of 2.3 million which makes it quite beneficial for jewel sellers out there.
These statistics are sure shocking and tell us that Bonanza is beneficial for jewelry sellers. Let’s go deeper into the platform.
With Bonanza, users are charged on listing fee along with a total of 3.5% commission for the sales made.
Not only that, delivery is completely free and there is no minimum value set for any of the listings out there.
Users are sure to experience a plethora of advantages with Bonanza.
Pros
▪️The Booth Avenue feature guarantees that customers receive a custom shopping experience as well.
▪️Always accessible community support ensures that both buyers and sellers face no issues.
▪️The platform also enables simple payment methods, streamlining the process.
▪️Finally, sellers do not need to waste time as sellers do not have to spend a lot of time opening new accounts on other e-commerce platforms.
Cons
▪️Low user base compared to leading e-commerce platforms and poor visibility outside the US.
▪️Worse recognition when compared to its competitors.
8. TheRealReal
TheRealReal is a high-level e-commerce platform with a specialty in luxurious items such as high-end jewelry.
Currently, it is ranked 12 in US e-commerce platforms and has a visitor traffic of more than 12 million per month.
This platform is best suited for sellers who wish to market their high-end jewelry and other luxurious goods.
Specifications:
▪Cost: Brand names fine jewelry has a selling price range of 30%-80% of the sales value
Pros:
▪️TheRealReal caters to luxury goods which makes it useful for selling expensive jewelry.
▪️In-house gemologists provide trustable item authentication, and buyers can purchase items with confidence.
▪️Product shooting is done by the platform which means sellers have one less thing to worry about.
▪️Sellers receive payments immediately after the sale is completed, meaning they have access to the funds in under a day.
Cons:
▪️There is no control over pricing for sellers.
▪️Jewelr’s authenticity can be questioned and turned down if the gemologist is not satisfied with the criteria.
▪️TheRealReal is much more favorable towards personal sellers as opposed to companies.
How to Choose the Best Platforms for Selling Jewelry Online
There has to be consideration about the cost breakdown for every e-commerce platform.
These vary from site to site with different types of charges like listing charges, transaction charges, subscription fees, payment processing costs, shipping expenses, restock and refund expenses, and advertising expenses.
All of these must be assessed before picking a jewelry-selling webpage.
✔Kind of Jewelry That You Sell
Different types of jewelry are offered on different platforms.
While one group may emphasize custom jewelry, others may concentrate on art and handmade endeavors, fashion and luxury jewelry, and so on.
If you intend to cater to these niches, like wedding, vintage, and antique jewelry, make sure that the marketplace pulls customers into this niche.
✔Marketing Resources
Marketplaces provide ample marketing resources for promotional purposes like advertising, social media marketing, emails, search engine optimization, analysis, cross-selling, content marketing, etc.
If you have specific marketing requirements, then ensure that the platform you choose has the appropriate tools.
✔Competitive Marketplace
Also, think about how competitive your niche is on that platform.
If the category already has numerous sellers with similar offers, it will be difficult to become distinguished.
In such circumstances, search for alternate platforms that have lesser competition, as these may be more favorable to new sellers.
✔Worldwide Presence
Some e-commerce platforms work worldwide with features like the exchange of currency with shipping and logistical support to various countries.
If you want your jewelry to reach a wider audience, it is best to opt for a platform that lets you market them in far-off countries.
✔Policies and Limitations
Wars are in every marketplace for every policy about product listing, quality control, copyrights, shipping, fulfillment, advertising, etc.
Make sure that the Terms and Conditions on the site are suitable for your business practices before signing up with the platform.
✔Payment Methods
Having multiple strategies in your payment plans can help increase your audience reach.
Look out for platforms that accept credit and debit card payments, digital wallets, money transfers, and cash.
If the marketplace has a global reach, make sure that customers can pay through their desired payment method.
✔Reviews and Testimonials
Make sure to check what other sellers in your niche, and for that matter any niche, have to say about the marketplace before selling on it.
Look for feedback on other websites that are not tied up with the platform, like Trustpilot.
Doing this should give you an idea about the seller reliability of the site, and whether or not it will be beneficial for your jewelry business.
Conclusion
As noted, the best service to sell fashion jewelry pieces may vary from one person to another for several reasons mentioned.
Make sure that you understand your business needs, after so be prepared to put in marketing time and effort, and finally select the service that is closest to your goals with your jewelry business.
You can choose to sell on multiple platforms but make sure that the online marketplaces are suitable for your business.