Technology is moving forward in leaps and bounds. It is making its presence noticed profoundly in our daily lives. It has even carved its way in the jewelry industry. Increase in accessibility and availability of trendy designs has rooted fresh excitement within jewelry stores. Traditional and online retailers are making effort to attract more and more consumers.
Technology and new trends shaping jewelry industry
People adore wearing jewelry but not just as an accessory but they want it to blend with their outfit. Today, jewelry designers are using in their innovative design. For example, jewelry designer has changed the way how fitness tracers can be worn. They replaced the rubber straps with sleek pearl bracelet design.
You will even find jewelry designed with a purpose like smart rings or bracelets. These are connected with your Smartphone. You can keep track of your workouts and never miss social media updates. The phone can be disconnected, whenever desired.
Online jewelry market has been predicted to see an increase from 4% to 10% till the end of 2020. In the same duration, online jewelry sales are expected to escalate by 15%. The reason of this growing trend is because jewelry retailers are accepting e-commerce practices.
Technology has also offered tools for better customer experience like the apps that allow them to design their own wedding ring. A pearl ring can be customized on the basis of pearl size, shape, grading and rarity.
Technology has also helped entrepreneurs manage their jewelry store as well as improve communication with clients.
In jewelry business, everything is about showcase and presentation. Augmented Reality technology allows to display jewelry through a shopping glass including extra info like size, shape, diameter of the pearl. You just point your Mobile phone onto the showcases. It means the problem that what people see in the photographs online is totally different than what got delivered gets resolved.
Increase in international presence
Rise in jewelry brand internationalization is expected to be seen in a couple of years. Many jewelry stores still serve national consumers. Several have only a single branch. In this digital era, supply chain process will accelerate and new designs will be accessible very quickly. It will also make local designed items to be shipped across to international turfs with ease.