Login

E-commerce Jewelry Market in 2020

Gepubliceerd: 2014-08-23 06:39:49 | Door naomijane | 11011x bekeken |

E-commerce Jewelry Market in 2020

Online Jewelry Selling Aims For A Better Future

With the burgeoning interest of buyers in online shopping, jewelry e-commerce has also increased its sales. Six years from now, local jewelry stores are predicted to spread their feet in the global market. Jewelry companies are putting excellent efforts in alluring customers towards their fashionable and best quality products.


E-commerce Jewelry Market in 2020

The Predicted E-Commerce Jewelry Market in 2020

Image Source: extradigital.co.uk

We are no astrologers to predict the future growth of online jewelry industry; however, the exponential increase that the industry has shown persuades us to see its remarkable future by the year 2020. With the continued progress of international brands, the industry has a glittering tomorrow. As per the recent report, the annual global sale is expected to hike by 5 to 6 percent each coming year. Consumer’s passion for jewelry has once again jazzed up, in the last two to three years post recession.

However, consumer behavior can’t be forecasted. Also, the industry is very dynamic, right from designing to selling, jewelry business people need to incorporate the latest trend and trace the requirements of customers every now and then. The trust that buyers show in these brands need to be maintained. Since the number of authentic online jewelry stores is rising, the level of competition is also surging. Even the choices and tastes of consumers are changing; sometimes they like vintage while the other times they love to be modern. Therefore, it is the time to show up outstanding creativity and smartness to run the jewelry business; the companies that are unable to meet customer’s standards are left far behind.

We foresee that e-commerce jewelry market would flourish like the online apparels business. In the present scenario, the jewelry industry is still unexplored by many shoppers. People are not showing trust in local brands, even though the collection at the stores captivates them and they are among the legit brand names. 


E-commerce Jewelry Market in 2020

Branded Jewelry

The jewelry market is still very regional and confined. The top brands have a hold of only 20 percent of the total worldwide business, including both offline and online. Only two names, Cartier and Tiffany & Co. are among the top 100 global brands in the world. The remaining market is conquered by the national retail brands, like PandoraBlue NileGemvaraAngara, and others. However, some of them are expanding their international presence. Thus, many of the local brands will become global subsequent to industrial consolidation.

Experts even project that at around ten jewelry houses will make their market share twice as large, by the end of 2020. With the increasing confidence of consumers in the online marketplace, these jewelry owners and retailers are putting more and more efforts in expanding their business and thereby, generating a high amount of customer revenue.

One option for smaller jewelry players to become global is associate themselves with the branded ones. A platform like Amazon allows other brands to advertise and sell their blings, which is actually an excellent concept to prosper.

Branding channels

It is believed that the right amount of branding leads a company to establish a high-end position in the market. Digital media has proved to be an outstanding channel for branding. It includes social media, natural and unnatural marketing, and many other internet sources that give these companies the access to advertise their products.

In fact, conveying your business message through such platforms is the best way in this virtual community. Recently, it was found that two-thirds of the shoppers search for the desired product online before visiting the in-house store. Some of them turn to social media to take a look at the latest stock. As discussed above, multi-brand chains are also very promising and potential.

Thus, from the above pointers, it is anticipated that the online jewelry market is going to be expansive and globalized by 2020. And the companies that can emerge out with the latest trends and live up to customer’s expectations will definitely outshine others and bring a positive and radical transformation in the e-commerce jewelry trading.


Deel:

Tags:

Reacties


Er zijn momenteel geen reacties !

Geef reactie







naomijane

Naomijane


Like deze focus


Naar boven
Feedback