Like any other industry, the jewellery business has interesting new developments, created by cause and effect. Especially after the pandemic, new input has been put to use. In this article we will tell you all about the future trends of jewellery.
It’s a known fact that the pandemic caused many industries to lose business. Of course, this affected the jewellery business. What also affected the industry in its turn is that before the pandemic started, consumers didn’t like nor wanted to buy high-end jewellery online. This has caused a sales decrease of 25%. Somehow unexpected then, customers started to trust the online process more and there has been a significant rise in online sales regarding jewellery. This applied for byJacky as well, with an average increase of 3,9% per year starting from 2012 to 2021.
During the lockdown a new desire for vintage jewellery was developed. Sustainable products combined with a bargain price was becoming more and more popular. The relentless releases of new collections received quite some pushback at first. Customers want a piece with a deeper meaning, something unique. Another factor weighing into vintage jewellery is its sustainability. Climate change affects all of us and causes people to alter their choices. Vintage jewellery tells a story and it is the story where people are interested in.
Good storytelling grabs the attention of people and this goes for jewellery as well. It helps consumers connect with individual pieces, even when they haven’t seen the jewellery up close. The story behind jewellery is usually a deeper one, every person can relate to it in their own way. Even better is that consumers can personalize their jewellery to their own taste, all while maintaining the original story and essence.
Being transparent has become a requirement in almost every branch. That is because consumers are concerned about products and businesses that lack in consciousness. Especially millennials, who favor sustainable and transparent companies. The original 4 C’s used to determine the value of a diamond are not enough anymore. A customer would like to know if a diamond is sustainable and if its creation is in a conflict-free and environmental-friendly way.
The 5th C
As we know we use the 4 C’s to determine the quality and value of a diamond. This due to the rising demand for personalized luxury products especially in the jewellery industry. For this reason a fifth 'c' introduces itself: customization. Retailers offer a service where customers can design their own jewellery online. In line with this trend, big brands like Louis Vuitton have started buying large rough stones and shaping a design in close collaboration with customers.
For more information about the future of jewellery, look at byJacky!