29 May 2022 |

It’s all about that high AOV, baby!  

By

DEEP DIVE 

It’s all about that high AOV, baby!  

I’m obsessed with JEWELRY.

If I were being HONEST, I’d tell you that I spend ~20 minutes a day looking at different jewelry online.

I’m on #engagementring TikTok. I follow every successful (and every small) jewelry brand I can find on IG. I add something to my jewelry wish list ~once a week (I kinda WISH I WAS KIDDING, but this is my vice and I’m leaning into it okay???) 

I’m also obsessed with DTC and eCommerce.

I know how to run a store, I know how to manage a P&L, and by now I can pretty much tell which brands we launch are destined for 9+ figures. 

So, when I’m asked what type of brand would I see myself starting one day, I always give the same unequivocal answer: 

A DTC FINE JEWELRY BRAND. 

I’ve said it before and I will say it again. DTC fine jewelry is the single BEST vertical in all of eCommerce. Why?

The margins + AOV + on-demand inventory + shipping weight are a DREAM. Sure, there are some things that definitely could go wrong: 

💎: It’s a congested space and the most premium DTC fine jewelry brands are very well funded and okay with losing money for forever. 

💎: VTO for jewelry isn’t as far along as it should be. 

💎: The buyer isn’t usually the end consumer.

But, even the best verticals have challenges. THAT’S WHAT MAKES IT FUN — and what will keep competition at bay.

One thing I should mention: when I say DTC fine jewelry, I mean I already know exactly what my SKU mix will be.

And, because we’re FRIENDS, here’s exactly what I’d want to sell (if you beat me to it, kudos to you – my only ask is that you please make millions and millions of dollars). <3 

I would sell the following, and the following ONLY:

🎾: Diamond tennis necklaces (GIA certified, colorless D, E, and F, VS1 or VS2)

  💎: Sold in only 3 different carat weights max 

  💎: Sold in only 3 different metals (yellow gold, white gold, and platinum) 

🎾: Diamond tennis bracelets (GIA certified, colorless D, E, and F, VS1 or VS2)

  💎: Sold in only 3 different carat weights max 

  💎: Sold in only 3 different metals (yellow gold, white gold, and platinum) 

👂: Diamond stud earrings (GIA certified, colorless D, E, and F, VS1 or VS2)

  💎: Sold in only 3 different carat weights max 

ON THIS EPISODE OF BRANDS TO WATCH

📈: Ring Concierge: MY FAVORITE DTC FINE-JEWELRY STORE.

A brand I watch (and have watched EVERY SINGLE DAY very closely). Their founder Nicole is sassy and entertaining on IG stories, their product ships beautifully, and my wedding band may or may not be from there (eeeekkkk!!)  

 📉: The M Jewelers: Popular and at a lower price-point (which is great!) My problem here is the number of free giveaways / over-saturation of their brand partnerships.

I personally cringe at IG giveaways – there’s got to be a better way to get followers/ traffic (hint: there is). 

And, TBH, some of the brands they partner with aren’t it (IMO!). 

THE LESSON HERE: 

Ask yourself why you’re running a giveaway, then ask yourself if the quality of the traffic or data you’ve received from brand giveaways is beneficial, then plan how many giveaways you’d like to do in a year (THEN SUBTRACT 2 FROM THAT NUMBER). 

GO-TO-TWEET