5 Emerging Jewelry Business Trends You Must Follow in 2021

5 Emerging Jewelry Business Trends You Must Follow in 2021

As we step into 2021, the jewelry industry is poised for a big shift. The pandemic has accelerated digital transformation and e-commerce, forcing businesses to adapt to the new normal. As a result, trends that would have taken years to emerge are now unfolding rapidly. In this article, we will go over the five most prominent emerging jewelry business trends that you must follow to stay ahead of the curve.

1. Customization

The rise of customization in the jewelry business is not news. People want unique and personalized jewelry pieces that reflect their individuality. What is surprising is the accelerating speed at which customization is becoming a norm. In 2021, businesses that offer personalized jewelry services will have a distinct advantage. From engraving to bespoke designs, customers expect full flexibility in creating their jewelry pieces. One example of a company doing this well is Taylor & Hart, who create custom engagement rings for their clients.

2. Sustainability

Both the pandemic and climate change have brought sustainability to the forefront of consumers’ minds. In the jewelry industry, this translates into a growing demand for ethically sourced and produced products. Customers are aware of the environmental and social impact of mining and production processes, and they expect businesses to take steps towards sustainability. Jewelry companies that can demonstrate environmental and social responsibility have a competitive advantage. A great example is Brilliant Earth, who uses recycled gold and diamonds and works with small-scale miners to ensure fair labor practices.

3. Virtual Try-Ons

Virtual try-ons are not new, but they have become increasingly important in a world that is moving towards e-commerce. In the jewelry business, providing a virtual try-on experience can be a game-changer. Customers want to see how a piece of jewelry will look on them before buying it, and virtual try-ons offer just that. Additionally, virtual try-ons can improve customer satisfaction and reduce returns. One company successfully implementing this trend is Mejuri, who offers a virtual try-on experience for their jewelry pieces using augmented reality.

4. Localism

The pandemic has forced people to re-evaluate their priorities, and many are now placing a greater emphasis on supporting local businesses. This trend is evident in the jewelry business, as consumers move away from mass-produced, generic pieces and towards locally made, unique pieces. Customers value the connection and authenticity that comes with buying from a local business. In response, jewelry businesses are prioritizing local partnerships and sourcing materials from nearby suppliers. Ariana Boussard-Reifel, who makes her jewelry in Brooklyn, New York, is a great example of a company embracing localism.

5. Digital Marketing

Digital marketing has been on the rise for a while, but the pandemic has accelerated its importance. With physical stores closed or operating under restrictions, e-commerce and digital marketing have become essential. Jewelry businesses that can create effective digital marketing campaigns will have a competitive advantage in 2021. Social media platforms such as Instagram and Facebook have become central to marketing efforts, allowing businesses to target the right audience and showcase their products. An example of a company with a strong digital marketing presence is BaubleBar, who leverage social media to connect with their customers and build brand awareness.

Conclusion

The jewelry industry is evolving quickly, and businesses that can adapt to the emerging trends will thrive. The five trends we discussed – customization, sustainability, virtual try-ons, localism, and digital marketing – are all important to keeping up with the changing landscape. By staying on top of these trends, businesses can attract new customers, retain existing ones, and differentiate themselves from competitors. Now, it’s up to you to implement these trends and take your jewelry business to the next level.