TrueFacet, the top luxury online retail marketplace for watches and jewelry, is reporting massive success and growth following the post-Thanksgiving sales period.
The company is thrilled with its massive success from its first multi-million-dollar revenue from the Black Friday sale through the Cyber Monday event, showing the increasing importance of eCommerce as a relevant platform for both timepieces and jewelry.
- 3.2x growth in overall sales, with purchases across all 50 states
- 30% increase in average orders
- $10-15k average spend per item with an increase in “big ticket” purchases
- An increase in mobile shopping and mobile sales conversions
- Over 72% of visits to TrueFacet were via mobile devices, with conversion rates doubling YoY
- Non-signed pieces saw impressive sales, dominantly in color stone bracelets and diamond earrings
- Gem stone jewelry was extremely popular with sales averaging between $4-6k per item
- Cartier was the top-selling jewelry brand, with a 48% growth in sales
- The Love bracelet remained a consistent favorite, however the Mini Love bracelet gained popularity this year, especially on Cyber Monday
- Other trending jewelry brands included Tiffany & Co., Van Cleef & Arpels and David Yurman
- Rolex was the top-selling timepiece brand, with a sales growth of 2.1x YoY
- Datejust and Daytona models lead Rolex sales
- Other trending watch brands included Omega, Breitling and Tag Heuer
Most luxury brands didn’t consider eCommerce and other marketplaces such as eBay and
Amazon as a potential sales driver.
Several luxury brands were thought to have looked down at these marketplaces as online yard sales rather than the traditional brick and mortar stores.
American Brands going back to its luxurious beginnings
Huge American brands are now going back to its luxurious branding. For years, some of these brands have become too popular, which in turn affected their image.
Now, Ralph Lauren and Michael Kors Holding LTD are taking a few steps back into its roots, even making their customers pay full price to purchase their products.
With the massive growth in sales for luxury items and timepieces, the eCommerce industry has proven its worth when it comes to the company brands’ overall sales.
TrueFacet is the top luxury online retail platform for both fine jewelry and watches, addressing the need of the well-off and tech-savvy consumers.
It appears they are well on their way to a very successful 2017 Holiday Season. And that might bode well for other luxury brand sellers.
Do you feel that eCommerce can help increase luxury brands’ sales in the future? Share your ideas down below.