“Jewellery has the power to be the one little thing that makes you feel unique.” – Elizabeth Taylor. These words really capture the essential role that Branded jewellery plays in being an expression of ‘ who we are ‘.
Today’s world is all about self–expression, and the beauty industry has seen the biggest booms whether it may be in Makeup or Fashion. With everyone owning a social media account and a public image to maintain, starting as early as teenage, luxury and Branded jewellery is no longer just an aspiration of a selected few.
It’s already no secret that Lifestyle-related bloggers attract the most traction, and appearance consciousness is at an all-time high.
Branded Jewellery sector is a key piece of this pie.
The Jewellery Market Value that stood at around 230 billion US dollars as of 2020, is estimated to increase up to 292 billion US dollars by 2025.
The key factors driving this boost
1. Creativity and Innovation surge
Lots of new promising talent is entering the jewellery design sector.
This trend has been cooking up now for a while. This has also led to the creation of many new and innovative lines with experimental and edgy pieces that resonate well with the Millennial and Gen Z population.
Hence keeping them hooked to Branded Jewellery. If you know a friend who is keen on joining the industry, learn where to study jewellery designing in this article. this read is for them
2. The unisex trend in “Branded jewellery”
With Gucci launching a jewellery collection that was not targeted to a specific gender, a whole new area of possibilities has been made mainstream.
A trend many popular jewellery brands are set to follow.
One even sees the depiction of this in the famous male personalities unconventionally sporting jewellery, in major Trendsetting fashion Events such as the Met Gala.
3. The ease of online shopping
Websites, Social Media Presence, Shopping Apps, and Influencer Tie-ups have increased the likelihood of sales manifold.
This ease of buying from the comfort of your home or office, with the click of a few buttons and doorstep delivery within a few days, has encouraged people to be more indulgent in buying for every occasion.
Also, the online platform gives you the freedom to explore options from expensive jewellery brands and affordable jewellery brands without moving an inch.
There has also been an added loaning option provided by subscription services which allows the consumer to try many more looks in a fraction of the buying cost.
If you are a brand looking for the right Influencer tie-ups. Read our blog about the top 10 influences you must know!
4. Rise in Demand of branded jewellery
If it shows it sells, is a golden rule that applies to any product line. Today more than ever one’s appearance is a reflection of their Individual brand.
This Social media-driven lifestyle further accelerates the demand amongst all consumers.
This benefits the branded jewellery sector immensely as people not only indulge in the experience of buying they also like to document their shopping along with the branded packaging of designer jewellery brands, to share in their circle. Which in turn drives the demand further.
People like to add bling to every accessory they can. Which also includes Phone covers.
To stand out and be unique. And that bling comes from the Branded Jewellery.
5. Investment in branded jewellery
Spending on certain jewellery made of precious metals has been seen as a viable investment option for time immemorial. In an unstable market, people are also more likely to divert their investment funds into Gold, Silver, Diamonds, etc.
In the Indian market, for example, the average price of gold went from $537 per 10 gram in 2020 to $671 per 10 gram in 2021. This means even in the pandemic world, Gold went up and those who invested in it made a profit.
6. The Healing Effect
A substantial population believes in the healing powers of Gemstones. American Gem Society has written an elaborated article about it too. In many parts of the world, people wear rings and necklaces holding Gemstones. These stones are believed to have an energetic charge that heals certain aspects of a person’s life.
Saphire for mental clarity.
Yellow Topaz for creativity.
Ruby for love.
A certain combination of these stones is even believed to help in healing ailments.
Red coral + Emerald for ear troubles.
Emerald + Moonstone for Insomnia.
The audience for this segment has slowly been growing for decades. This growth can be expected to erupt further in the current decade. The reason is the helplessness of mainstream healing methods in the face of the current pandemic. Hence people are more open to exploring alternate options of comfort.
Purity is key for this consumer segment and Branded jewellery offers the best promise of purity.
7. Innovative marketing ideas
A Signet-owned Branded jewellery store in the US offered Toilet paper for $ 3999 with a free Diamond Ring. Isn’t that amusing. Another delightful area of exploration is the Podcast market. Alex Monroe’s – This is a Token Podcast that shares stories around jewellery being the perfect example.
Alex Monroe is an England-based jewellery brand, specializing in handmade designs. The Podcast covers the backstory of the creation of certain pieces. This is a great way to earn customer attention without any direct sales.
Giving jewellery enthusiasts something to binge on while building more credibility for the brand in the market. It also creates more jewellery enthusiasts amongst listeners as it shares meaningful insights about the working of the jewellery industry.
8. Quality & Authenticity of branded jewellery
As much as the Internet has helped it has also made it harder to judge the quality firsthand. There is no touch-and-feel experience available.
Hence it’s more viable for customers to rely on Brands that have an image to uphold.
This tilts the customer towards choosing Branded Jewellery over any other option.
Also, thanks to the robust certification practices followed in the Branded Jewellery industry, Customers can stay rest assured that they get value for their money.
9. Gifting branded jewels
Lockdowns have done two things. One, brought families closer. Two reduced our spending options with closed hotels and restaurants.
But birthdays and anniversaries still exist. Now more than ever we feel the need of cherishing our close ones.
Branded Jewellery has always been a trusted companion of consumers in this area.
It serves as the best outer expression of love and appreciation.
Women Designer necklaces are a leading choice for male buyers and Male bracelets seeing an upswing amongst female buyers shopping for gifts.
10. Optimistic Leadership
Jewellery is a 5000-year-old trade. Older than the Pyramids. Hence it is a very mature industry that is confident in its value. It can be seen in the Optimism of the Leadership as well. The founders and CEO interviews from the Branded Jewellery segment clearly reflect their enthusiasm to overcome the challenges and adapt for growth.
Branded Jewellery sector has thrived through many disruptions, and it looks strong with all of the above factors working in its favor. Hence one can confidently predict that the next decade belongs to the Branded Jewellery segment. Making it inevitable for Branded Jewellery to be the fastest-growing luxury sub-segment.
This is Good news indeed for all stakeholders.
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