Boost Your Sales with These Jewelry E-Commerce Trends 2024

Jewelers, how are you keeping up with the rapid, mind-boggling evolution of global e-commerce?

The e-commerce sales are expected to climb from US$6 trillion to over US$8 trillion in 2026. However, this growth comes not only with fierce competition but also with many challenges ahead. For instance, the ongoing conflicts in Europe and the Middle East, the tough economic environment, climate, geopolitical, financial, and other uncertainties can erode consumer confidence.

Tame your fear, however, as hard luxury goods where fine jewelry falls under, will continue to be in demand as consumers consider their potential investment value, especially in tough economic times. The global revenue in the jewelry market is projected to reach an astonishing $310.90 billion in 2024. That’s enough reason to allay those business fears, isn’t it?

Despite this, there’s no time for slacking for change is the only thing constant, especially in a landscape as fast-paced as fashion. Jewelers must learn to adapt and react quickly to keep up with the ever-changing market. This is where gathering trends to capture your customers’ voices comes in. Understanding trends will help you react positively to the changing consumer behaviors that will shape the industry

So what does it take to build a positive jewelry shopping experience? Let’s take a look at what to expect from 2024.

Five Hottest E-Commerce Trends that Should Boost Your Jewelry Sales this 2024

1. AI will become more mainstream

If you think that artificial intelligence (AI) has already reached its mainstream potential, you could be mistaken. We’ve only seen the tip of the iceberg. Forbes reports that AI in retail is expected to reach $24.1 billion by 2028, recording a 24.4% annual growth.

There are several ways to incorporate AI into your jewelry business. From AI-powered product/shopping personalization to AI-powered search engines, AI-generated models, and prediction technologies.

If you’re one of our GemHub users, AI in jewelry wouldn’t be new to you as GemHub gives you access to a handful of AI-powered solutions including our quick and a great time-saver, jewelry description generator tool.

2. Shifting interactions from public space (feeds) to private space (direct messages or DMs)

Have you noticed an increased interaction on your social media inboxes lately? If so, prepare yourself even more this year as 2024 ushers in an increasing demand for one-to-one interaction via direct messages. This trend came as expected since 2023 showed us the heating up demand for direct brand communication. According to Hubspot, 19% of customers contacted customer service via direct message in 2023 — a figure up 45% from 2022.

How should you react to this trend?

For one, you must have proper customer relationship management software to manage interactions across various channels efficiently. Make sure that your chosen software integrates interactions seamlessly to avoid response delays and above all, have a reliable customer service team that’s well-trained to handle messages on social media.

3. Instant deliveries

Mimicking the immediacy of in-store shopping, same-day and/or next-day delivery will be your top solution for customers’ desire to access their purchases instantly. Making this option available to customers helps speed up inventory movement. The sooner they can receive their ordered products, the more they’re encouraged to buy and the lesser the cart abandonment instances will be.

4. Championing sustainability initiatives

Sustainability has been all the rage for the last several years and this year is no different. Green shopping, even in luxury, is expected to be pushed to the front even more, with 78% of customers considering living environmentally friendly and sustainable lifestyles.

Incorporating sustainable practices into your jewelry business doesn’t have to be complicated. You can start simple through eco-friendly packaging, supporting ethical and fair trade practices, especially in sourcing materials, and offering green options in deliveries.

5. Subscription and loyalty services

Subscription business models or services are recurring revenue models in which customers pay usually monthly or annually in exchange for products or services. Subscription services are convenient for customers due to their predictability and ensure a steady flow of income on your end.

Rocksbox is one of the jewelry brands that offer this type of service. Their jewelry rental membership allows customers to rent three (3) pieces of hand-selected jewelry for a low monthly fee. It also gives members the option to buy the piece they can’t part with. The good thing about jewelry rental services is the fact that it aligns with your sustainability initiative, promoting sustainable consumption.

If jewelry rental is not a viable option for you, don’t worry. Subscription services are not limited to tangible products. You can also offer access to exclusive content, a personal shopping consultant, or select products/website features.

Experiment, experiment, experiment!

Whichever way you choose to strategize this year, always remember to experiment with different approaches to improve the shopping experience. You can get an independent person to evaluate your website performance or have them shop on-site so that they can give you insights to better your strategy. Regardless of how you want to approach it, there will always be room for improvement. The true, constant strategy here is to capitalize on those opportunities to make your shoppers happy.

Are you ready to ride the tide of the ever-evolving e-commerce?