1. E-commerce Growth: As of 2021, the global e-commerce market is growing at an unprecedented rate. In 2020 alone, e-commerce sales worldwide rose by 27.6%. Given Amazon's dominant position in this industry, it's poised to reap the benefits of this trend, and fine jewelry is no exception.
2. Consumer Trust: Amazon has been steadily building trust with consumers over the years, boasting a customer base of over 300 million as of 2021. This trust factor extends to fine jewelry purchases as well, and customers are more likely to buy high-ticket items from a retailer they trust.
3. Amazon's Market Share: In the United States, Amazon captured 38.7% of the e-commerce market in 2020. Their dominance in the market translates to their ability to sell a variety of goods, including fine jewelry.
4. Product Authenticity and Quality Assurance: Amazon's strict policies for sellers, along with features like A-to-Z Guarantee and customer reviews, help ensure product authenticity and quality. For high-value items such as fine jewelry, this assurance can be a significant factor driving sales.
5.Prime Membership: Amazon Prime had over 200 million members worldwide as of 2021. Prime members spend significantly more on Amazon than non-prime members. The exclusive benefits offered to Prime members like faster shipping and exclusive deals can incentivize fine jewelry purchases.
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