Instagram's influencer society is now growing rapidly, and online sales through the platform's unique presence has become a way for new jewellers to break into the market. Nicole Wegman started her instagram store Ring Concierge in 2013, and now makes 6 figures in sales, as mentioned recently by an article on Business Insider. Many foreigners and Filipinos are approaching instagram as a solo-method of jewelry sales, as it provides low overhead costs and is backed by tech-giant Facebook.
Instagram allows people to comb through troves of beautiful jewelry posts put up by their favorite stores, all in a matter of minutes and from the comfort of their phone. This ease of shopping (or even window-shopping) saves time and attention. Instagram stores are now growing in number, and are also being accepted by the general public as one of their go-to places for jewelry purchases.
Are these trendy digital stores going to overtake retail establishments though? It's hard to say. Digital venues have been catching up in sales records ever since a decade ago. There was once a time when famed diamond online store 'Blue Nile' was said to be almost equal in sales to diamond giant 'Tiffany & Co.', despite being mainly an online portal. Many people believe that with the advent more enhanced visual sharing, digital stores may overtake physical stores in performance within the next decade, although this is only the speculation of some.
There is also no harm in having both a physical store and a digital outlet for your jewelry products, many large companies are doing this. What most of them fail to realize, is that instagram and facebook stores should not be treated just as another medium for advertisements. These are big marketplaces that older generations of jewellers sometimes overlook.
Younger entrepreneurs, fashion leaders and even jewelry collectors are all recognizing the value of having an instagram store as their main platform for business. This isn't just a trend anymore, a shift in the power of retail is approaching. Which side will you put your time and effort into cultivating?
