Stay ahead of your buyers’ needs by looking out for these evolving jewellery trends.
Five years ago, if someone had said that people would be buying more jewellery online, it would’ve been believed by very few people. But despite the unpredictability of the past events, jewellery has proven to be a timeless purchase, with the global demand for gold jewellery recovering to its 2019 size in 2021 itself.
Owing to the unprecedented pandemic that has ever since changed the perception and heavily influenced jewellery shopping for buyers worldwide, it is important to keep an eye on emerging trends and keep up with them. Let’s look at a few emerging trends to be up to speed with ways you can take your jewellery business to the next level!
- Re-commerce & Sustainability
Sales of second-hand jewellery skyrocketed during the lockdown, particularly impacting the fine vintage segment, highlighting people’s desire for sustainable purchases and potential bargains. In 2022, the combined rise of re-commerce and pushback against new-season products is pushing people’s obsession with pre-loved jewels and archive culture.
According to a McKinsey report, the global fine jewellery market shall become more branded, more digital, and more sustainability-focused than ever before. For a market that has often historically been known as the opposite of those attributes, the path to 2025 is projected to bring big changes to the jewellery industry.
- Minimalism is In
Minimal jewellery is being embraced by buyers around the world. The current environmental and social changes are highlighting the importance of ‘Less is More’. Opti-minimalism is seen as a sustainable and minimal approach to leading lives, reflecting the same in consumers’ buying behavior. Brands need to incorporate a meaning value in the sales and storytelling of the product.
- Empowering Local Brands
With the Hon’ble Prime Minister’s vision of Make in India, people are supporting the whole ‘#vocalforlocal’ ideology now more than ever. This has resulted in having a responsible behavior towards supporting local economies due to the restriction on international travel and trade.
Hence, consumers will play a vital role in boosting the local economies by approaching local brands, designers and artisans and will gain a sense of empowering their own cultures and values. Jewellery would reflect the local pride by reviving the traditional art of crafting jewellery and supporting the rich cultures and crafts of their land.
- Social Media: An Essential Stage
Social media has never been more important to all brands, across all sectors than it is now. Social campaigns are one of the most effective strategies for increasing brand awareness and reaching new audiences.
Looking for more reasons to take your jewellery business to social media platforms? Read about why you should use the digital medium to your advantage, and ways you can glam up your business’ Instagram handle.
- Embrace Technology
With the uncertainty brought by the pandemic, many jewellery businesses resorted to using technology like 3D Printing and Augmented Reality (AR) to get closer to their buyers. 3D Printing helped buyers create replicas of their engagement rings, helping them decide whether they like them or not before they made a heavy purchase.
AR is taking the jeweller-buyer connection to the next level by offering virtual jewellery try-on and exciting new features like group video calling. These features are easy to integrate and show buyers that you’re adapting to the needs of the times. You can integrate the power of AR as early as today!
Know more about how jewellery businesses are using technology to amplify their sales in this blog.
While nobody can predict the future, it always helps to stay updated with the need of the times.
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Also read How Can Jewellers Use Whatsapp Business?