Case Study

Case Study – Jewellery Market Analysis Ireland

The main finding from this research project is the growing demand, and high demand for purchasing jewellery online, even more in some special dates like Christmas. That is why is very important that potential customers can find your business.   A large number of people prefer to buy online, on their mobile devices rather than in the shop.

JEWELLERY MARKET ANALYSIS

If you have a brochure style website with no ecommerce functionality then read on..

In the following table it is shown the number of searches in Google per month in Ireland for a few choice keywords. For example, 9900 people search for engagement rings in google a month:

It is very possible to compete in the market and capture this business for some of these search terms.

Where do these searches go?

Firstly It’s important to explain when a potential customer searches for a term, they are given results split into 3 sections, you can see in the image below.

Google Paid Ads
The first are the google paid ads, which appear at the top, these get about 20% of the clicks.  You can appear instantly, but will be charged every time someone clicks on your ad. We are google partners if you wish to run an ad campaign.

Google Local Maps
The second is the google local, if the search is localised, ie has a location term, such as “engagement rings dublin” google will show the top three local businesses matching this term.  This takes roughly 40% of the clicks

The final section is the organic listing, which shows the websites google thinks are the best match for this search term. Taking the final 40% of the clicks.

It’s very possible to appear in the first two of these sections to take advantage of the search volume.

The importance of Selling online – Local vs National

A lot of businesses do not realise that by having a strong online shop, one which allows customers to buy online 24/7 can increase sales and profit immensely.
If you current run a brochure style website, or one which does not allow online purchases, then you are missing out on a very large portion of the business., In this example we show the differences between the number of searches in Ireland and in Cork County for three different keywords:

National searches bring 10 times more visitors to your website if targetted

We need to highlight the importance of the online selling here. Because you could have a shop open 24/7, with less running costs, always open and not just serving the people in Cork, instead nationally or even overseas. 70 searches vs 880!

ROI – What does this mean financially?

To see the true value of appearing in front of these customers, we need to see potential return in sales from just one of these keywords.

If we take the keyword “engagement rings” this shows the potential scenario

 

The thing to note here, this is for only one of the 100’s of keywords in this market that you could target.  Adding a possible € 100,000 to your sales monthly.

Explaining this a little further, if 20% of the total amount of searches click on your Google Ad, you will receive 1980 clicks to your website.  If in turn 5% of these buy, which is the conversion rate for an average website, you will make 99 sales a month, if each of these is worth 1000euro, your increase sales volume here could be 99,000euro!

This is taking one keyword only

On-site Vital Aspects in the Jewellery Market

According to the kind of market, jewellery offers many ideas to be improved, here are some of them:

Secure payment solution
Many people nowadays do not trust on buying online, but you can improve their trust creating a secure method of payment. Due to the importance of open an online market, it is also crucial that the shipping costs are not too expensive, if possible free shipping.
Testimonials / Reviews
These are a great way to increase the level of trust a visitor has, enticing them to buy your products
Guarantee / Free returns
Offering a special guarantee, such as a period to return the product in case of dissatisfaction. Increases the level of trust will increase because the customer will feel more confident on spending certain quantity of money, feeling less risk buying.
Gift Voucher / personal wrapping
A gift voucher or personal gift wrapping, like nice boxes or dedicated wrapping paper. These things can make the customer know that you really take care of them and take them into account.
Personalised service
This service transforms it’s into unique items, making the purchase even more special.  This is when the customer wants to make a more personal gift. Here you can take advantage of it and satisfy their need.
Blog
Also, to make the web page more personal, I would recommend you add a blog. That way, the visitor can keep updated with and take advantage of offers, discounts, and new products. This could include some important tips could be offering an expert advice from someone who recommends the customer about your products, how to clean very delicate materials
Email address visible
It’s vital to always have your email visible on your website. It’s seen as a trust factor by consumers allowing them to contact you easily.
Maps and directions visible
As we can see below, over half of visitors will be on mobile devices, you should also include a google map with directions to your business, making it easy for them to find you.  This should be on the homepage
Often visitors want to send you a quick enquiry or are even too busy to speak on the phone, and wish to send a quick message in a contact form.
Mobile Friendly
Due to the increasing use of mobile devices, it is important to note about the importance of being mobile friendly and for users to be able to view your website clearly and use your website on a mobile device.
In the following graph we could see the percentage of searches from a mobile device (for some keywords like handmade jeweller Ireland, gold rings Ireland, jeweller Ireland online, cheap rings Ireland, engagement rings, diamond, wedding ring…):
As we can see, more than the half of the market searches are made from a mobile device. This means that if you improve the web page to be mobile friendly, you will attract a big part of the market. You should ensure that your website both functions and looks well on mobile and tablets because many websites were only designed to function well on computers.

Ecommerce Improvements

Adding functionality which would increase the revenue of your online shop is a great method to take advantage of your existing clients, and to increase sales and revenue, also increasing the number of returning visitors.

Enticing Visitors to Buy more

There is a large chance that people will buy on your website, but you should aim to take advantage of the buying process or experience, so that they add more to the cart and increase the sale volume

  • Add group purchase options to buy more, for example if the average number of products is 2, then have an offer buy 4 and get 1 free or something similar which will make them increase their spend.
  • In some shops they have a pop up offering a discount when someone tries to leave the site, could be annoying, but could also work
  • Add Social sharing coupons or viral sharing, share on social media to get a discount code

Enticing them to return to buy again

  • Add a possible system to email a buyer 1 week, 2 weeks, or 1 month after they purchased enticing them to buy again with a special offer or discount
  • Add a loyalty scheme based on purchases or referrals.
  • Give free gifts in the orders, this had a great effect for another client, a small gift worth 2 or 3 euro, and people are delighted that they got something for free that they were not

 

If you would like to receive the full report of our findings tailored for your county, please get in touch