How technology is impacting the jewelry industry
Technology and its easy access have brought significant changes in the way consumers and businesses relate to jewelry. All these advances have been reflected in the jewelry industry in the shape of more modern, bold and quality designs. At the other end of the chain, these processes have ensured greater product availability and variety, making jewelry stores increasingly attracting customers.
New jewelry consumers like to wear pieces that are more than just an accessory. Where technology is already more developed, jewelry makers design their products so that they can be used together with portable electronic devices, such as designers who have created sophisticated parts that replace the fitness track rubber bands with luxury parts.
A brand that emerges in this technological line and that deserves to be watched carefully is Ringly. Founded in 2014, the company created jewelry with a purpose. Its smart bracelet and rings are connected to the handheld device so that consumers can keep up with their activity, do breathing exercises and never miss social media updates.
In terms of sales, technology has also been enhancing industry opportunities. According to Research and Markets, the online jewelry market is expected to grow from 4% to 10% by the end of this decade worldwide. In addition, sales are expected to increase by 15% over the same period. These growth trends are due to the fact that jewelry retailers embrace e-commerce as a major sales and advertising channel for their brands.
The availability of tools that refine the customer experience is another factor that helps the growth of sales over the internet. These tools are made with cutting-edge technology and greatly help jewelry companies and customers looking for e-commerce. Among these there is the Ring Builder, which allows customers to design their own engagement rings. Internet users can customize a diamond ring based on cost, carat and certification, besides integrating other tools that connect with available retailers and suppliers.
And your company? What are the technologies it has already joined? Which technology are you looking for to face this new age? Get inspired by these examples, let your imagination flow, and allow yourself to dive into this brave new world.