The jewellery industry continues on a positive path

The jewellery industry has been experiencing steady growth despite the COVID-19 outbreak. The industry has faced its fair share of challenges with literally hundreds of stores shutting down, cancellation of events and trade shows, and the lockdown has impacted the jewellery trends. Yet creativity flourished in terms of how jewellery is marketed and sold across the world.

Consumers around the world have accepted the trend happily. They are increasingly getting comfortable with buying jewellery online. They are much more likely to make big-ticket purchases online from both haute couture and independent labels. This positive trend for the industry continues. The exciting sales data augurs well for the upcoming jewellery fairs as the world slowly turns to the next normal. Though the industries suffered more stringent trading conditions on the high street, the market is still thriving, owing to the persistent demand for luxury goods. A pandemic failed to deter the buyer's love of luxury. The period of uncertainty influenced consumers to invest in timeless, valuable styles.

Positive growth: Some interesting statistics

A possible reason behind the increase in luxury jewellery sales can be well-attributed to the wider consumer preference for something more lasting. Buyers are choosing and purchasing something enduring that offers better value, over transient and cheaper products.

Further analysis of the data reveals some interesting facts:

• 35% increase seen in precious metal jewellery set with diamonds
• 24% strong spike observed in precious metal jewellery set with coloured gemstones
• 22% rise in sales of precious metal jewellery without any diamond or gemstones
• Alternative metal and silver jewellery also witnessed a 22% rise

Customization: The fifth, indispensable 'C'

Custom-made jewellery is becoming a norm among meticulous buyers who don't mind spending extra for that unforgettable piece of jewellery. The positive trend has manifested also in the wedding jewellery industry. Bespoke is growing rather steadily. Personalization is essentially increasing the demand for more exclusive and unique creations. Customers are looking for a meaningful jewel.

Jewellery goes social-first

Bespoke social media marketing reached a new high during the lockdown. Even the luxury ateliers who made the mistake of ignoring digital are coming back in droves. Jewellery brands are developing social-first campaigns to reach a new audience and increase brand awareness. No effective marketing strategy is complete unless digital plays a key role.

An intelligent influencer strategy to feature carefully selected individuals has taken several social-first brands ahead of the competition. Original collections that best reflect the brand's values and aesthetic have attracted a cult following as they consistently sell out.

Sustainable jewellery sells 

Sustainability and ethics are the key focus areas for jewellery buyers around the world. Increased awareness about social, human, and environmental sustainability led consumers to opt for precious metals that are recycled. Traceability of raw materials, certification of zero environmental impact, and sustainability initiatives gradually setting an ethical jeweller apart from a crowd. Sustainable innovation in jewellery is critical. A sustainable and responsible brand is essential for buyers to take note of a jewellery collection.