Editor’s note: This article was first published in October 2010, when Boticca.com had opened only about a week earlier. The expansion to Europe and the United States it mentions refers to that first week, and the site may no longer operate.
The business of costume jewelry, designer jewelry and special accessories is becoming more and more profitable on the internet. Among many other things, it means you don’t need several shops, you can reach customers all over the world, and you don’t have to fear theft and robberies.
Here we take the example of Boticca.com, a pioneering online store for designer jewelry and costume jewelry. They opened practically a week ago and have already sold more than any jewelry store sells in a whole month.
What is the secret of Boticca’s success?
What it sells matters least, since it isn’t a new product, and selling over the internet isn’t new either. The merit lies in the fact that some completely unknown jewelry designers have managed to get their designs worn by celebrities such as Jessica Alba and Lady Gaga, among others.
The second factor is the immediate viral effect: getting a website to talk about you within a week, as I’m doing right now, is an achievement and the result of good marketing work.
The third is something we’ve talked about many times. An online store must be simple, easy to navigate and let you complete a purchase in three clicks. They’ve achieved that.
Price is key. At first glance, you might think that a bag, shoes or a bracelet worn by Lady Gaga would be beyond our means; instead, the prices are in line with the traditional market.
And finally, if you want a personalized piece, they’ll make it exclusively for you, not to mention that they started big, covering Europe and the United States in their first week.
In short: their success was guaranteed before they opened their online store. This is what we call a good marketing plan, a market study, a good business plan and a good launch strategy. Their staying power will depend on the speed and quality of their delivery service.
Further reading
- The most profitable businesses
- Business ideas: virtual assistant companies
- Ideas for online businesses
- The only secrets to getting rich
Featured image: Lillian de Vries, CC BY 2.0, via Flickr.
