Jomashop is a leading high-end accessories online store. It specializes in luxury watches such as Rolex, Breitling and Cartier. It is uniquely differentiated as the store with the largest variety of watch models available online. Jomashop has been in business for 29 years but began its online business only in 2000. Apart from watches the website is also known for its luxury pens, handbags, and crystal art pieces. The company is currently managed successfully by Osher Karnowsky. In 2015 the company made news by adopting automated software for online protection against fraudulent transactions. This move has helped the company reduce customer verification times from 2-3 days down to 2-3 hours. It also allowed the company to attract international sales more aggressively and resulted in higher revenue figures in recent years.
Financials
Jomashop is a privately held company – Financial data isn’t perfectly accurate.
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Revenue Figures in Millions
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| 2015 |
182.352M |
| 2014 |
140.664M |
| 2013 |
104.772M |
| 2012 |
82.800M |
| 2011 |
69.025M |
| 2010 |
64.520M |
Average Growth Rate: 17.7%
Company location
Army’s Terminal
140 58th Street Suite 3B
Brooklyn, NY, 11220
Ph: 877-834-1434
Employment
The company has nearly 100 employees working in various departments. Jomashop has customer service representatives, buyers, sales personnel as well as IT specialists and web developers. Based on Glassdoor.com the company has an employer rating of 5 stars with an emphasis on the company’s culture. Employees of jomashop enjoy pizza parties and an on site coffee house. The latest salary information of a web developer was reported to be 47K a year while director wage can go up to 62K.
Marketing Approach
Traffic figures of Jomashop show a healthy 3.2 Million visitors a month. The website is ranked #3 in the jewelry industry. An average visitor of Jomashop spends almost 5 minutes on the website before moving to the next. This figure indicates the immense interest of customers in the company’s line of products. The large majority of the company’s visitors is based in the U.S. (48.32%) with china being the second largest (9.37%) market. This piece of data reflects on the company’s line of products which caters to wealthy individuals looking for luxury products. Jomashop invests most of its marketing efforts to penetrate these two markets.
33.19% of the company’s visitors arrive to the website directly. These are repeat customers that are familiar with the company and went directly to type the company’s URL on their browser. 21.1% found the company through other websites using referrals and affiliate program. 38% of Jomashop’s visitors get there by clicking on active advertising campaigns published on search engines. Based on recent reports the company spends 450K annually on marketing campaigns.
In addition to the marketing efforts dedicated to bring unique traffic to its website the company also operates using other platforms. Jomashop has two very successful merchant accounts on both Amazon and Ebay where the company offers its products to a wider customer base.
Vendors
The company orders its merchandise directly from the world’s leading watch manufacturers and accessories’ designers.
When considering the purchase of an expensive product, a potential customer expects the highest standards of customer service. At Jomashop all customer service channels are available to the convenience of customers. These include: detailed ticketing system, email, 1-800 phone number and a live chat with a store rep. The site’s weakest point however, is their return policy. Despite the high price tag paid by an average consumer the return time frame is limited to 30 Days from the day of shipment. Moreover, the customer has only 5 days to notify the company of a defective product. When facing a product related problem a customer has the option of choosing to process an exchange or a refund. In case of a refund, shipping & handling costs are not refundable and restocking fee may apply if the product is not returned in the same condition or missing any packing materials.While researching the company’s customer reviews online we found that Jomashop maintains nearly perfect score in every category. It holds BBB ratings of A+ and a 9.1/10 on trustpilot.com. Overall we were satisfied by the level of customer service provided by Jomashop though we believe the company should improve its return policy.
Shopping Experience
In this section we review the company’s site from the user’s perspective. Navigating the site was a breeze with many different options for locating the exact product of interest. You may use the site’s smart search, shop by brand or simply go through the site’s categories themselves. Every one of these options was user-friendly and allowed for easy access of the product. User experience was good using the site’s mobile app as well. Processing purchases via a phone or tablet is just as simple as placing an order on a personal computer.All other functions, company information, and customer service options are located in the lower ribbon of the site. Every function is accessed easily through a dedicated link leading to an associated page. These functions include all policies, accounts info and order issue resolution center.Payment for a product can be made using all credit cards (Amex, Visa, Master Card and Discover) and PayPal.
Competitors
Jomashop is a market leader when it comes to high-end watches, jewelry and luxury products. Some of the competitors offering similar set of products are ashford.com, worldofwatches.com and authenticwatches.com. None of these competitors poses a true threat to jomashop’s dominance as a market leader. The nearest competitor is Ashford with 1.3M monthly website visitors as opposed to 3.2M on Jomashop.com.
Pros and Cons
Pros:
- Large variety of brands and products
- Reliable and safe
- Attractive prices
- Great customer service
Cons:
- Strict return policy
- Most products offered are expensive and cater to wealthy customers only
Jomashop’s e-Store Current Ratings
For More information on Jomashop and similar stores click on the following link:
*If you are a Jomashop representative and would like to comment or adjust inaccuracies you may contact us directly.
