- What are the figures for online sales today?
- How is this digital market changing the way we spend our money on diamond jewellery online?
Looking back, 30 years ago just a handful of people had computers at home. It took another 10 years for the internet to become mainstream at the end of the 1990s. But since then the world has completely changed, everything has been going even faster than we could ever imagine. Online sales have sky rocketed, and it is not about to stop. So how is this advanced technology changing the way we purchase goods and, in particular, how is it shaping diamond jewellery sales online?
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What are the figures for online sales today?
In 2010, the percentage of online sales was 3% of the total sales of personal luxury goods, which equals to £ 4.4 billion. While pure offline sales equalled £ 150 billion. In 2016, these numbers increased drastically with online sales booming to £ 17 billion, meaning 8% of the total sales. It may not sound as much when you compare pure offline to online, but this amount is expected to reach £ 66 billion by 2025 according to the highly regarded annual report by Altagamma - McKinsey, the “Digital Luxury Experience 2017”.
How are they predicting such a dramatic increase from £ 17 to 66 billion in less than a decade? Because luxury brands today are finally fully recognising the importance of the digital market and therefore expanding their presence online or developing it further.
How is this digital market changing the way we spend our money on diamond jewellery online in particular?
The digital market is considerably changing the way we spend our money. The accessibility, the mobility, the devices, all strongly influence how we buy products today. According to the report mentioned earlier, the percentage of online luxury sales penetration is 5.3% for watches and jewellery. The report also highlighted that the average adult between the ages of 18 to 35 spends 17.5 hours on the internet through their smartphone. That quantity is not for professional purposes, that is for social media, browsing and online shopping.
The number of people buying diamond jewellery online has also considerably increased thanks to reputable companies that rely on qualitative products, excellent service, secure online payments and efficient shipping services.
Are you an online shopping fan? Would you buy your diamond jewellery online? If you are looking for the leading online jewellery brand that offers the best price-quality ratio for high quality diamond jewellery online, then you are looking for BAUNAT. At BAUNAT we offer timeless designs with a 20-year product guarantee as well as an impeccable online experience.