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  • Ecomdigest Jewelry Newsletter - 11.14.2024

Ecomdigest Jewelry Newsletter - 11.14.2024

Bottega enters the fine jewelry game

Author

Sophie Bruxner-Randall
November 14, 2024 • Reading Time: 6 minutes

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Leading Voices 📣

With the election now behind us, the whopping 44% of consumers who reported delaying purchases pre-election may finally be ready to open their wallets.

Black Friday and Cyber Monday could be bigger than ever as shoppers prepare to make these ‘revenge purchases.’ This is a prime opportunity for brands to capture pent-up demand.

In this article, Jamie Bolton shares 3 tips to make the most of this opportunity:

📉 Integrate Lower-Competition Channels: Platforms like Snapchat have less competition and lower CPMs, offering low-hanging conversion opportunities.

🎯 Consider TikTok for Efficiency: Last year, TikTok saw the biggest month-over-month jump in ROAS in November, making it a highly efficient tool for BFCM success.

⏳ Strategically Time Ad Spend: 2023 data shows strong results from increasing spend at the start of Black Friday week, but the best approach depends on your budget and goals. (Get a full guide to three timing strategies in Fospha’s BFCM report).

For a closer look at the data behind Jamie’s top tips for BFCM 2024, check out the full article.

Luke Jonas on LinkedIn: Going global in 2025

Although Black Friday is just around the corner, savvy brands have half their mind on next year.

With economic challenges in the UK, and a growing opportunity in the US/EU, many retailers are asking: how can we mitigate the risk of our home market?

Niche Nuggets 🔎

Bottega Veneta, known for its leather-weaving technique, has entered the fine jewelry market, following the trend of luxury brands diversifying their offerings. This move mirrors other Italian brands like Gucci and Bulgari, who have successfully expanded beyond their original product lines into new luxury categories.

Richemont showed resilience in a challenging environment, with stable sales and strategic acquisitions. The company strengthened its leadership and governance, while facing a decline in Asia Pacific sales. Despite challenges, Richemont remains confident in its long-term growth, supported by strong leadership and a solid financial position.

Paris Hilton has partnered with Claires to launch the "Sliving" jewelry collection. This collaboration aims to connect with the next generation of fashion enthusiasts. The term "Sliving," coined by Hilton, embodies self-empowerment and glamour, echoing her previous catchphrase, "That's Hot."

This partnership marks a significant moment for Hilton, who has always been passionate about fashion and accessories. Claires, known for its recent resurgence, aligns with Hilton's vision of inspiring authenticity and style. The collaboration follows Hilton's latest album release, "Infinite Icons," showcasing her continued influence in pop culture.

Hollywood Sensation’s latest collection highlights how quality craftsmanship and smart branding can elevate timeless designs. Featuring versatile pieces like the Crystal Dream Necklace and Infinity Love Bracelet, the launch pairs aspirational luxury with perks like 20% off (code NEW20) and free shipping over $75. Marketers can take cues from this campaign’s focus on accessible elegance and customer-centric offers.

The luxury jewelry industry is evolving, focusing on mid-priced segments, sustainability, and innovation. Brands are adapting to consumer demands for ethical sourcing and lab-grown diamonds. High jewelry remains prestigious, enhancing brand appeal. European expansion and brand purpose are crucial for growth, with leadership changes expected to drive creativity.

Performance Pulse 📈

Marketers should focus on creating emotionally resonant holiday campaigns that align with consumer behaviors. By prioritizing engagement and building brand loyalty, they can navigate the shortened holiday season effectively. Continuous engagement and innovative strategies, rather than early promotions, are key to long-term success and consumer connection.

BigSummit emphasized the importance of multi-channel strategies for e-commerce success. Brands should engage consumers across various platforms, manage product assortment, and adapt to economic pressures. Social shopping, especially on TikTok, offers new opportunities. Understanding consumer behavior and forming strategic partnerships are crucial for navigating the evolving ecommerce landscape.

Instagram's Adam Mosseri clarifies that the platform does not reduce the reach of posts tagged as sponsored content. This myth is debunked to encourage creators to comply with laws without fear. The perceived reach penalty is likely due to user engagement, not Instagram's algorithmic actions.

Ecomdigest is a Contentive publication in the DTC Ecommerce division