The digital world constantly expands, which couldn’t but influence the jewellery market. According to statistics, the global online sales market of accessories has an 8.59% annual growth rate, and this trend is predicted to be kept until at least 2026. Approximately 20% of consumers prefer to purchase jewellery on the web, as it’s faster and more convenient.
The trend for virtual shopping is evolving since buyers can easily customise the necessary products and order the chosen items with a few clicks. Rapid technological advancement played a huge role in the development of online purchases: a broad choice of payment options allows users to quickly pay for jewellery and get a quick delivery.
PayPal is one of the most widespread banking methods used for virtual shopping. Let’s consider what drives users to pick this payment provider and discover why online shopping is so popular in 2024.
Factors Contributing to the Trend
The global jewellery market is now estimated to be worth $340 billion, almost doubling growth during the last decade. Online shopping has also shown an unprecedented rise in the previous years. COVID-19 significantly influenced this trend: people were locked in their houses, but still strived to purchase jewelry and other goods. The pandemic is already over, but customers are used to the convenience and speed of virtual purchases.
Convenience and Security of PayPal Payment Method
Many users choose PayPal for virtual shopping: according to reports, over 400 million people globally utilise the payment method. What are the reasons behind such popularity in purchasing jewellery? First, the e-wallet is widely accessible, as it operates in 200+ countries and accepts 25 currencies.
In addition, the digital wallet covers multiple industries, and jewellery stores are no exception. It’s enough for users to create one account to purchase the necessary goods, book flights and tickets, order food delivery and gamble in PayPal online casinos. Players worldwide opt for various online casino brands where they can pay by PayPal because of convenience, security, and swift transactions, which makes them a favoured choice among the gambling community.
The system is secure, as the provider implements multiple data protection mechanisms. These include email payment confirmations, passkeys, 24/7 fraud monitoring, etc.
Diverse Selection of Jewelry Available Online Vs in Traditional Stores
The online presence of any business is essential in 2024. People used to Google everything they need and access goods and services on the chosen websites. Jewellery stores also support this trend, so potential buyers can visit their official platforms and explore the full catalogue. This option is more beneficial than in-store shopping due to multiple reasons.
First and foremost, the choice of accessories on offline shelves is often limited. Therefore, buyers should order the necessary jewellery and wait for it to be delivered to the selected jewellery shop. At the same time, websites all the brand’s products, so customers can easily get them with a few clicks.
Moreover, many brands allow online customisation according to the users’ preferences. Clients can adjust the ring size or shorten the watch bracelet. The store will immediately fulfil all the buyer’s requirements and send the desired product. Thus, the buyer saves time and money since visiting the offline store is unnecessary.
The Impact of Mobile Shopping & Social Media Influencing Trends
In 2024, most people have smartphones to access the necessary goods and services instantly. Many prefer to explore jewellery on the go and purchase it using PayPal wherever they are. Millions of users are targeted by ads on social media and networks, which also affects their buying behaviours.
For instance, famous influencers collaborate with jewellery brands and promote their goods to the audience. A user sees the campaign and decides to get a bracelet, ring, or watch immediately. Even though impulsive purchases are not recommended, many still do it.
In this case, mobile shopping is convenient and fast, as people can order what they need from their smartphones and get the delivery as soon as possible. PayPal works perfectly on mobile devices, which is another reason users select it as a preferred banking method when paying for accessories or other products online.
Benefits of Using PayPal for Jewelry Purchases
Since its inception in 1999, PayPal has grown into a global payment giant that provides exceptional services to its users. The system boasts a high level of security, so users can be confident that their personal and banking details are protected. Moreover, PayPal allows quick transactions with minimum additional fees.
The payment provider ensures that money transfers are smooth and buyers are not scammed. Many websites accepting the system allow users to skip the verification process, so paying for the chosen jewellery piece with a few clicks is easy. In addition, PayPal has a fast and efficient refund system, so customers shouldn’t worry if they want to return the purchased accessory to the seller.
Final Thoughts
The quick digitalisation impacted all the industries, so it’s not surprising that many people prefer to buy jewellery online. Brands and stores constantly expand their influence, providing buyers with multiple products on their websites and special services like jewellery customisation.
Customers prefer online shopping with PayPal due to its convenience and high speed. Not everyone wants to waste time visiting a land-based shop when it’s so easy to order the necessary accessories, pay for them, and enjoy quick delivery to the chosen place.
