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Consumer Buying Trends and Digital Strategy

It's not hard to predict that e-commerce and online purchasing is going to continue to grow. Though, it is slightly harder to gauge how this will impact the jewellery industry, where consumers often rely on the physical look, feel and quality of a piece before committing to a purchase.

According to Forbes, online global spending is predicted to hit $4.2 trillion by the end of 2021. With this predicted figure in mind, it's undeniable that having an online strategy and a strong digital presence are important factors for any business. Whilst the figures for 2021 and 2020 have been heavily impacted by the pandemic and store closures, experts predict that the online buying trend is here to stay.

However, many consumers prefer to shop in person when purchasing large value items, where the purchaser can not only see, feel and touch the item, but can feel more secure that they're getting value for their money. Whilst many jewellery stores have seen great success offering e-commerce, this is not the only way to optimise an online presence.

We've explored the consumer buying trends to discuss how digital strategies can benefit your jewellery business.

Building a Social Presence

According to Hootsuite's 'Social Trend 2022' report, social networks have become the second most important channel for online brand research, following search engines. This trend has seen growth specifically in 16-24 year olds. By establishing and maintaining a social presence, consumers are able to find and connect with a business prior to committing to a purchase.

There are several ways social networks can be used to connect with existing and potential customers, by offering brand insights, business values and by demonstrating the benefits of their products.

Sustainability has also become a deciding factor for consumers purchasing choices. Research shows that consumers are more likely to purchase from a sustainable and eco-friendly business. This therefore, would be the perfect social messages to inform your followers of, helping to build trust and loyalty within your brand.