Live e-commerce has evolved into a promising sales and marketing channel, providing the jewellery trade with fresh revenue streams and a wider audience.
Only a decade ago, taking pictures and videos of displays at jewellery trade fairs was strictly prohibited. Early adopters of live e-commerce would park themselves at a corner of the booth’s counter to share their finds with their audience. They were the exception, not the norm.
Then came the pandemic, which brought a sea of change, including the way online platforms and sales were viewed. Lockdowns and travel restrictions broke down e-commerce barriers, and when business resumed after Covid, there was a newfound appreciation of the vast potential online.
Today, live e-commerce is not only welcomed by many exhibitors at physical trade shows, but it has also evolved into a veritable sales and marketing channel that is reaping benefits for those who choose to embrace it.
The new buyer
"No photography" signs and icons at trade shows have been replaced by many variations of “Welcome Live” signages.
Bigger jewellery manufacturers set up dedicated tables for livestreamers within their booths and serve up trays upon trays of stock for them to present to their followers. Smaller companies likewise accommodate these live buyers who turn up in force at many trade shows in Asia. Some brands also do the live selling themselves while others invite influencers or official platforms to go live at their booth.
For some companies, livestreaming partners can easily contribute 30 to 50 per cent of total sales, with the potential for even further growth. And while entry-level fine jewellery pieces of US$500 to US$2,000 generally move well in live sessions, big-ticket items also have takers. In certain jewellery product categories, sales from live e-commerce can reach hundreds of thousands of US dollars.
Greater reach
Vithal Trading started working with Chinese influencers and livestreamers in their Hong Kong office before expanding the concept to their Japan operations. Today, the Japan office works closely with Filipino live sellers who cater to a more international audience.
Chetan Kumar Palriwala, director of Vithal Trading Co Ltd in Japan, cites Filipino live sellers’ multilingual abilities as a big plus. “Those based in Japan can speak Japanese, Tagalog and English, enabling us to reach consumers in various parts of the world,” he said. “We consider our live sellers as our partners since they play an active role in selling our jewellery and making our brand known around the world.”
Live selling has indeed made fine jewellery more accessible to a wider audience, one that would otherwise not have purchased pieces from a retail store or at a trade show. Apart from the allure of fine jewellery, it is the convenience of online purchases, the access to the latest collections at affordable rates and the trust they place in the live seller that draw people in.
Live jewellery sales have also expanded beyond trade fair halls. Vithal Trading holds monthly live selling sessions in their offices, while Hatai Gems and Jewelry of Thailand organises factory and showroom visits for its live selling partners upon request.
Work in progress
While live e-commerce is indeed gaining momentum as a sales platform, as with all distribution channels, it comes with its own set of challenges.
High return rates are one – an expected risk with online sales where consumers may not be satisfied with the physical product when they receive it. Companies like KGK Group try to mitigate these through detailed product descriptions.
In addition, while many livestreaming buyers at shows are knowledgeable about the ins and outs of fine jewellery, the risk of misinformation still exists. Greater educational programmes could help, led by manufacturers themselves or perhaps industry bodies and other entities.
And as in all businesses, achieving the right balance remains critical. As one jeweller put it, “The objective is to work with these new trade buyers – live sellers – without jeopardising or hurting our relationship with existing customers. Maintaining different collections for different segments is one way to go.”
Live e-commerce has gained traction post-pandemic and is paying off for jewellery manufacturers who have taken the livestream plunge. But as in all businesses and strategies, one needs to choose one’s partners well, have realistic expectations and put in the work and effort to make this channel deliver results.
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