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How Bevilles Dominated the Marketplace Industry
From its humble beginnings on Bourke Street in Melbourne to one of the most popular jewellery brands in Australia, Bevilles has shaken up the fine jewellery industry by reaching a multichannel presence.
Bevilles started out as a simple trader in 1934, selling everything from saucepans to blankets. In the ’50s, things changed, resulting in Bevilles focussing on fine jewellery and diamonds and becoming the brand that Aussies know and love today. More than 80 years later and you can find the jewellery store across 23 locations throughout Victoria, NSW and South Australia.
Since launching its online store more than a decade ago, the jeweller released its updated site in 2016 and has experienced mass growth across the channels. With its growing demand online and in-store, Bevilles decided to further the development by expanding into an omnichannel strategy.
“Customers are not just shopping direct with retailers but instead the increasing number of marketplaces means that consumers
are constantly introduced to new products and new brands,” explained Rachael Eade, Bevilles’ Digital Marketing Manager. “It used to be that customers went to eBay looking for specific products but with the introduction of more curated marketplaces like Catch and MyDeal, consumers are being told what to buy and offered constant bargains. That’s why I think it’s important to get your brand onto marketplaces so you can be everywhere — even for small brands.”
Partnering with ChannelAdvisor and using the Managed Service for Marketplaces, Bevilles launched its myriad of products across an array of marketplaces, including Amazon Australia in November 2017 and MyDeal in 2019. Bevilles was also able to manage its existing stores on eBay and Catch, with the help of ChannelAdvisor. “Being a smallish business we don’t have the internal resources like a lot of big companies, so we rely heavily on partners like ChannelAdvisor to assist with our online strategy,” Eade explained.
Bevilles plans to launch its store in New Zealand’s The Market in the coming months. Following Bevilles’ utilisation with its new omnichannel strategy, there are more customers than every that are making purchases at the jewellery store. “Since introducing a number of marketplaces, we find that probably about 15 per cent of our sales come through marketplaces now,” said Eade.
In the new Spotlight Series report, Marketplaces: Eating the World, it’s theorised that ‘there is a broad consensus within the online retail industry that marketplaces will rapidly become even more important’, meaning that online retailers should closely monitor the marketplace landscape over the next 12 months, as it will bring ‘many new opportunities and just as many new challenges’.
Using ChanelAdvisor, the Bevilles team was able to monitor their time effectively, without having to spend hours trying to optimise its presence on marketplaces, meaning ‘no headaches’ and the ‘knowledge that a range of marketplace launches was being handled by experts’.
“It can be very time-consuming. Be sure to work with a partner that can understand all the different marketplaces, shipping requirements and so forth,” explained Eade. As with all platforms, finding the right strategy to work with the channel can be a challenge. Having presence with marketplaces allows Bevilles to stay ‘agile’, and place a core focus on listing products and adapting the strategy to flatter the platform it sits upon. “We change our strategies depending on the marketplace,” Eade said. “For instance, on Catch, we found full price items don’t sell so we only list items on sale. On eBay, we sell a lot of watches, even high priced watches, as customers are willing to shop around for limited edition items and know our products are genuine. We also sell a heap of a $2 item and find that by selling these at a very low profit margin, it increases our positive reviews and exposure, so we sell more of other products.”
For retailers that are finding it hard to keep track of all the platforms it may be using, Eade recommends finding a trustworthy partner that can assist in the process. “Build relationships so you get told about upcoming promotions, have more opportunities for paid advertising, and will be kept updated with account changes and errors for example,” she explained.
Some further advice from Eade: “Keep track of your reputation on the marketplace platforms. For example, on Amazon we don’t have a high number of orders, so even one late order can mean our overall late shipment rate is very high and we could be penalised.”
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