Offline to Online: The new framework of the B2C jewellery trade
E-commerce has witnessed an advantage over offline stores with consumers preferring to browse for things while enjoying a cup of coffee in the comfort of their homes.
One can admit that it is much more convenient to search, zoom in and browse through a greater number of products made available on the Internet rather than looking for a parking spot on the high street or riding the tube just to visit one store. The level of quick accessibility and time-efficiency are tremendous.
Visiting stores offline not only requires effort and money due to commuting, not to mention the price of the gas continuously on the rise! With the growth of the e-commerce industry, the brick and mortar stores feared extinction but business numbers, on the other hand, suggests that Online and Offline services can work cohesively, benefiting the best of both worlds. It’s suggested that 53% of all online transactions will be click and collect by 2022. As per SmallBizGenius, currently speaking, 56% of in-store purchases are directly influenced by e-commerce.
Where a gap opens and divides, an opportunity also comes forward. This new framework of combining Online to Offline commerce (O2O) connects the B2C jewellery trade together like never before. The goal of this business model is to bridge the two industries and create an efficient framework which would connect the two channels. O2O considers both as complements of each other instead of contenders.
Online to Offline (O2O) The Jewellery App concept
It’s simple, 50% of all global e-commerce takes place on marketplaces and is growing. Consumers prefer to buy online if a retailer is behind the transaction and Google is encouraging consumers to shop locally. This is why The Jewellery App exists.
The UK is one of the leading countries for searching for things or buying online in the world. With more and more SMBs aware of this transformation, that number is only going to grow!
O2O commerce companies are already enhancing customers shopping experience. Initially, Alibaba was solely an online wholesaler but has now expanded to consumers with Aliexpress and even went on to open offline stores to service both worlds. This allows the customer to purchase goods online while visiting a store and have them delivered with minimum hassle. The company has now diverged into shopping centres with a declined footfall. Touch screens are on display for customers if they wish to log into their accounts to change a delivery address or to order an item if a particular size is not available in store. Hence, enhancing the shopping experience and bettering the dynamics between retailer & wholesaler.
This approach gives retailers an insight into the services and products they offer, driving consumers to a physical store for a more modernized exchange between the two.
Why O2O commerce works with The Jewellery App for retailers
A few perks enjoyed by the O2O services are:
- It draws customers to offline stores to purchase the desired product via the click & collect service.
- It does not require customers to stand in queues. The store ensures to deliver the products at their doorstep.
- Customers get to buy local and search local.
- Sellers can create vouchers and market them to boost consumers’ visits.
- The Jewellery App markets the local retailers/seller via the sellers own social media.
- Customers can return products purchased online to a nearby store.
- It allows in-store pick-up for their purchased items.
- The platform has a localised search for retailers that click & collect.
The O2O commerce is a new framework for the B2C jewellery trade, which has the potential to eliminate the existing gap between online and offline stores. By embracing this business model with a marketplace nourished by the supply-demand ratio, retailers can stay in control of their customers and services to keep driving local business.
Only a handful of companies have implemented O2O as it has the possibility to suffocate online sales, however, The Jewellery App sees this as the future and its whole focus is helping to support retail jewellers meet consumers regardless of how they choose to shop.
“The new retail” as Alibaba rightly calls it, is the next step that’ll disrupt the e-commerce industry. In any great changes, those who reap its benefits are those that have made the move quicker than others. TJA Connect is our cross-platform for the independent jeweller, retailer, wholesaler, and anyone in between keen to collectively do business with direct benefits to all partakers.
Haig is a freelance copywriter/blogger specializing in the jewellery industry. He is also a voice-over talent for advertisers. His passions are organic search engine optimization and indie music. You can contact him via his website or follow his LinkedIn or Twitter profiles.