In the last 10 years, the jewellery industry witnessed a major shift. Just a few years back, the local jewellery store was almost the best and most favored place to purchase jewelry.
People bought pieces based on materials, such as a slim gold bangle or a ruby-set ring, but they didn’t care about brand name. However, nowadays, and even though your local jeweler is responsive to new jewelry trends, customers want brands. Pandora is one of the brands that may have contributed to this shift.
The Danish company launched their now famous charm bracelets in 2004. Due to highly savvy advertising of the affordable pieces, Pandora became one of the world’s most famous jewelry brands in no time. But were those pieces new to the market? There is not much innovation happening in the jewelry industry anyway! Charms were available before Pandora, but this time they were just marketed in a new way. Jewelry was one of the last retail category to become brand driven. Retailers have always simply bought what suppliers made, but recently they ask the supplier to provide, not only branded products, but marketed products too! There are mainly 3 types of consumers pushing branded jewelry to grow. Emerging-market consumers which trust established brands and feel that they contribute to upgrading their lifestyle, young consumers who tend to express and “find” themselves through brands, and “new money” consumers who simply want to show off what they’ve earned. Jewellery consumers are now looking for an identity and a story behind a purchase.
Local jewelry stores and craftsmen who have a long history in the field can take advantage of this because they have a lot of stories and experience to share. Enough with the business side, let’s check out what’s trending in jewelry this year! 1- Bold or graceful bangles and chokers