Is it time for high-end jewelers to hop on the online bandwagon?

Although online shopping has all but overtaken brick and mortar retail, there are some industries where it is still close to unacceptable to purchase things online. Any industry where you have to see, feel, and gauge the quality of a purchase is still thriving in retail outlets. Luxury jewelers are just one industry where people still prefer the shopping experience instead of scrolling the pages of the internet — or is it?

Most high-end jewelers have held onto their prominence in spite of the knockoffs and fake available online, although some are questioning whether it might just be time to give in and hop on the internet shopping bandwagon. Although most Swiss-made watchmakers have insisted that the internet will never be for them, there are some who are beginning to see some real market potential to selling their pricey pieces on the internet.

At the most anticipated jewelry and luxury watchmakers’ fair in the world, many watchmakers are seeing that their insistence to keep their products in retail stores only might be causing a decline in their overall sales. That may be affecting their bottom line. Many jewelers might finally be waving the white flag and admitting that they might just have to survive in an e-commerce world.

Surveys conducted on people’s buying habits consistently show that in most countries, marketing has become almost entirely about the internet. Many surveyed between 18-30-year old ranges commented that they have no problem buying their luxury watches and jewellery online. In fact, research indicates that they prefer it. Once more, many manufacturers are now admitting that online re-sellers can more effectively sell their merchandise. Seeing an increase of over nineteen percent in just one year, many brands are considering selling their goods through authorized dealers online.

So what is changing?

It was reasonable to keep luxury jewelry and watches retail to brick and mortar setup only just a couple of years ago when the age range for those who were in the market was older and not that into the internet. Now, however, as millennials, the first generation to be brought up with and completely comfortable with the internet, are coming of age, the market is changing rapidly.

Luxury brands and industries had believed that they would survive outside of the internet — and not only survive but that they would thrive. Many insist that it is because it is all about the experience and service of high-end purchasing. The problem, however, is that as people’s schedules become more hectic and they can find more convenient ways to buy what they want, having to travel to a store to buy something and work around operating hours is not seen as anything but an inconvenience.

High-end luxury real estate marketers, as being the last to use the internet, eventually had to come to terms that being online is the best way to market their goods. The luxury jewelry brands are holding out, but there is a good likelihood that they will soon have to give in. Many brands have not had a problem adding a checkout cart to their website, but to turn over their brand sales to an independent third party is another story altogether.

Internet perceptions changing

Another reason that many companies are holding out is that there used to be an impression that the internet was a place to make discount buys, not where people went to buy extravagant luxury items. First impressions are difficult to overcome. The problem is that the average consumer has already forgotten the poor reputation that e-commerce used to have.

Consumers have no problem buying their high-end items online, and find not being able to get prices and having to contact a sales person to be an additional hurdle they don’t want. It actually might be a contributing factor as to why many are in the market to look for used or pre-used timepieces that have the same prestige, or even better, a vintage appeal.

Many industries have tried to hold out and keep their sales operations retail-only. What they have found is that people not only like the convenience of the internet but want it, over the additional steps that brick and mortar present. Luxury jewelers and watchmakers will have to find a happy medium or could risk their future sales.

Article Submitted By Community Writer

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