Jewelry has long played a significant role in human lifestyle and significantly impacted a nation's ability to raise its GNI. Jewelry has historically proven helpful to people all across the world. If we look more closely, the jewelry industry needs help to live up to its potential in our technologically advanced world.
Nowadays, consumers want to shop online while having fun with their families. They are used to having everything delivered right to their door. This new factor has significantly increased the distance between jewelry vendors and customers.
Do you run a jewelry store? Trust us when we suggest that a jewelry store app is essential in today's quick-paced world. Grand View Research predicts that the market will expand at a compound yearly growth rate of 8.1% and reach $480.5 billion by 2025.
Read on to learn more about jewelry store app development and the features it must include, along with its benefits.
Why invest in a Jewelry store app?
The global jewelry market was valued at around 21 billion euros in 2019. Major international superpowers, led by China and followed by the United States, Japan, and India, contributed a significant portion of the money earned by the jewelry industry. By the year 2025, the estimated value of the jewelry market is predicted to rise from 279 billion to roughly 480.5 billion dollars. Global sales are expected to increase by 5-6% annually.
Types of Jewelry store apps
An app dedicated to a single brand
This jewelry app focuses on exhibiting and promoting a particular jewelry brand. A jewelry firm creates such an app, and the primary screen of the app features a broad selection of the company's jewelry creations. Consumers devoted to a specific jewelry brand tend to appreciate this type of app since it makes it simple for them to purchase items from brands they know and trust.
An app that includes multiple brands
As the name implies, this app combines jewelry from numerous brands into a single smartphone app. Consumers enjoy choice when purchasing their favorite items, which is also true of jewelry products. This kind of jewelry app's sole goal is to draw clients who want to try out several brands before settling on one. Via this kind of software, customers may view a range of top-tier jewelry companies all under one roof.
A jewelry catalog app
With a personalized list of properties, the jewelry catalog app gives users access to numerous jewelry objects. It is a highly adaptable Android-supported mobile app. Also, it benefits small enterprises by supplying them with goods from a single source. Consumers may have access to a comprehensive list of all the jewelry pieces with competitive pricing. Small businesses can use this kind of jewelry software to help them use smartphones to display their jewelry products for business purposes.
Benefits of a Jewelry store app
1. Global reach
All individuals will be familiar with smartphone apps because they are the current trend. It offers a huge and expansive reach. The more people see your store, the more sales it generates.
2. Builds the brand
Cost-effective and able to establish a brand and mobile apps. Customers these days prefer businesses that have a mobile app for their brand.
3. Showcase your products
Because of the large number of mobile users, it will be an excellent platform to display your goods, including new collections, new categories, elaborate and contemporary designs, and vintage jewelry.
4. Availability of analytics
The availability of analytics aids in understanding client preferences, interests, common days, times of the year with higher visitor counts, customer information, etc. It will provide you with business insights and assist you in growing your company.
5. Increased ROI
With the construction of an app, you will undoubtedly generate more sales and higher returns.
6. All-around connectivity
Once an app is downloaded to a customer's smartphone, it stays there. It thereby fills the distance between you and your clients.
Monetization opportunities offered by Jewelry store apps
It is the simplest and most straightforward monetization, in which a flat commission is paid per sale. In the case of the jewelry industry, the company's goals determine the exact unit of measurement for which the commission is paid. The jewelry business connected to the mobile app pays to strike a sales commission on a specific number of product sales.
For many years, in-app advertising has been a successful method for app developers to monetize their work. In this method of revenue generation, the mobile app is compensated by several businesses for introducing them to the public through app-based adverts. The environment inside an app enables advertisers to contact their customers with extreme precision thanks to advanced data tracking and user targeting.
Businesses are looking to move finished items from a plant to a warehouse at a marked-up price after a manufacturing error. These goods are added with a predetermined margin known as manufacturing profit before being delivered to the warehouse. An excellent way for a jewelry app to monetize its requirement is through manufacturing profits.
App owners can greatly monetize their apps through premium membership. The latest and most exclusive jewelry products introduced to the app are only accessible to premium users, who pay an additional fee. A win-win situation is created for both sides when premium members pay extra to view and purchase the newest selection of jewelry, and the app developers receive a valuable sum from investing in the app.
Attributes of a successful jewelry store app
Photography and Videography
Photography and videography are crucial to riding the gravy train of online jewelry sales. Consumers can only view the jewelry products' photographs and videos. Therefore, both need to be crystal clear to draw them in.
Purity certification and product details
The item's certification should be displayed to convince clients that the jewelry they buy is real. Moreover, the product information must be provided if a buyer wants to view the item elsewhere.
Free shipping and insurance
While clients know they will only be required to pay the true amount of the item they purchase, free shipping is another technique to win their trust. Customers should also be given jewelry product insurance if their jewelry is lost.
A proper jewelry guide that shows customers all the costs, certificates, stones, diamonds, and gold colors should be available. Customers can use our jewelry buying guide to choose the jewelry they want and get all their questions about certifications answered.
Live market rates
To ensure that users are paying the right price for the product, live market rates should be provided continuously on the app. Consumers can also set a budget based on current market rates.
Special features to include in your jewelry store app
Social login or sign up
In the past, you had to register by supplying all your pertinent information, but today, social media sign-up is available on all apps. You won't need to remember your ID or password for subsequent logins once you've signed in using social media.
A chatbot that texts you will appear on your screen whenever you connect to the app. This chatbot will answer your questions about how the app works and walk you through it.
It is necessary to send customers reminders regarding the updated recent jewelry collection. Consumers are also informed of any sales or discounts on jewelry from their favorite brands.
Allowing clients to use their voice or an image on their smartphones to look for their favorite piece of jewelry should simplify the search process. It can be tedious to type the name or specifics of jewelry.
Multiple payment methods
Customers should be able to choose their preferred payment method. Customers want and should be given access to various payment methods, including debit cards, credit cards, UPI, and PayPal.
While PIM integration solutions hold all the information required for a company's product information, they are essential for integrating into apps. These systems are generally used with other programs, such as inventory management.
Real-time dashboards and analytics
A dashboard with automatically updated visualizations with the most recent information is a real-time dashboard. This function greatly aids in keeping clients informed about all the newest products available in the app.
Cost of developing a Jewelry store app
The cost estimate is based on several factors, including
- Business strategy.
- App type: Web or mobile app development
- Platform: Cross-Platform App Development, iOS App Development, and Android App Development.
- App functionality: Building an app with basic functions will be less expensive than one with sophisticated features.
If all of these factors are considered, an app with minimal capabilities will typically cost between $10000 and $20000.
On the other hand, a completely functional advanced app development costs between $150,000 and $450,000.
Future of Jewelry store apps
We anticipate the jewelry market to continue growing. The jewelry sector is set to skyrocket, as seen by the market's expansion over the previous ten years. Online jewelry shopping wasn't prevalent initially, but the situation changed when vendors removed barriers. Some jewelers have moved their operations online to obtain a competitive edge.
Any vendor who sells jewelry online, whether made of metal or diamonds, must be licensed by a respectable organization to be regarded as well-known and reliable. Also, it removes the buyer's worry about being scammed.
The Global Online Jewelry Market 2018-2022 analysis projects that between 2018 and 2022, global online jewelry will expand at a CAGR of 15.69%.
The growth forecasts demonstrate that investors foresaw the importance of the jewelry market's transition to eCommerce and took appropriate action to stay ahead. Its expansion is driven by the customers' insatiable appetite for fresh and distinctive selections. The Internet jewelry business will expand due to rising demands and escalating competition.
Many firms can now operate thanks to the eCommerce sector profitably. You have the once-in-a-lifetime chance to achieve a breakthrough and the required sales by opening the web store.
It would help if you had a team of developers to assist you in doing it. Without a doubt, you can employ pre-made platforms or solutions. But remember that these services restrict your options, and most don't provide any personalization.
If you want to create a jewelry store app for your business, contact AppsRhino today. Our experienced team of developers can help you along this journey.
Contact us to start your journey!