I have chosen to create an online store selling high quality, mid priced jewellery. The stock would be sourced from existing designers, ranging from independent to high end well known designers. The items would range in price from £50 to £500, and would consist of earrings, necklaces, bracelets and rings. The type of items that I would stock on the website can be seen below.
The mid priced jewellery market is currently expanding. A widening gap between the prices of real and costume jewellery (International Jewellery London, no date) has created a gap in the market for high quality, affordable jewellery. Warburton (2015) referred to this type of jewellery as, “affordable luxury” and defines typical price points as,”under £100 for a pair of earrings” and “up to £500 for a ring”. My e-commerce site would intend to capitalise on the current gap in the UK market to bring these “affordable luxury” items to one shopping site, rather than the consumer having to go direct to each individual retailer.
My intended audience would be fashion conscious females with a high level of disposable income; typically aged between 21 and 35.
International Jewellery London (no date) The Rise of Affordable Luxury in Real Jewellery. Available at: http://www.jewellerylondon.com/Media/blog/The-Rise-of-Affordable-Luxury-in-Real-Jewellery/ (Accessed: 5 November 2016).
Warburton, S. (2015) The unstoppable rise of mid-priced jewellery. Available at: http://www.telegraph.co.uk/fashion/style/unstoppable-rise-of-mid-priced-jewellery/ (Accessed: 3 November 2016)