Recent analysis by Internet Retailer finds that shoppers seeking luxury items go online to buy clothing and accessories more than jewelry. For example, the 130 luxury global e-commerce sites that Internet Retailer tracked for its 2018 Luxury E-commerce Report, apparel and accessories accounted for 76.2% of sales. Jewelry represented 13.4% of their online sales, health and beauty was 10.2% and the one writing instruments retailer—Montblanc.com—tracked in this study accounted for 0.2% of the market. Montblanc International GmbH is No. 880 in the Internet Retailer Top 1000.
Still, retailers in the Jewelry and Health/Beauty categories both increased their collective online sales by about 22% in 2017, while the largest category—apparel and accessories—only grew by an average of 15.5%. And it’s notable that Montblanc’s online sales increased an impressive 77.6% in 2017, by Internet Retailer’s estimate.
However, when it comes to shopping for a $10,000 watch or a new Cartier bracelet online, many shoppers turn to resale sites, an analysis of Internet Retailer data shows.
Online jewelry resale sites grow at a rapid clip
Of the Top 10 luxury resale sites ranked by their 2017 sales growth, the top site—Govberg Jewelers—is a jewelry-specific site. Govberg, No. 781 in the Top 1000, grew online sales by 102% last year, which was nearly triple the second luxury resale site ranked by sales growth—Tourneau—which is also a jeweler that mainly sells watches. In fact, only four of the Top 10 luxury resale sites as ranked by 2017 sales growth don’t specialize specifically in jewelry or watches: The Real Real (184), Vestiaire Collective, Fashionphile and Yoogi’s Closet. Most of those sites sell jewelry, but it isn’t their main focus.
Worldwide online sales of luxury personal goods, which excludes purchases of cars and travel, grew 24.0% to in 2017, according to Internet Retailer estimates. That was far faster than the 5.0% growth in total luxury sales, according to Internet Retailer.
When it comes to all online jewelers’ sales, Richline Group (94), which owns jewelry site Gemvara and Jewelry.com, raked in the most sales. Gemvara allows shoppers to customize their own handcrafted jewelry. However, while it ranks first in web sales, it only grew sales 4.4% last year, per Internet Retailer estimates. Signet Jewelers (102), meanwhile, grew sales nearly 40%.
To read more about online jewelry sales, explore our related new stories.
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