Showfay Share | 2023 Jewelry Industry Trends

After three years of the COVID-19, many industries will be in conflict, especially the jewelry industry.

The trend of jewelry industry in 2020 is fast internet. Under the influence of the epidemic, the jewelry industry reduced its physical scale, constantly considered the impact of the COVID-19 epidemic on the industry, and quickly constructed the Internet ecology of the jewelry industry became the theme. 2021 is a year for the growth of refined operation. The industry has basically adapted to the epidemic environment, re-recognized the consolidation of offline entities, and expanded the territory while protecting Xinjiang. In 2022, the environment is even worse, and the jewelry industry is struggling to survive.

After the epidemic ended, from Guimao to 2023, the jewelry industry will glow with new vitality.

Key word 1: under the regression line

The retail property of jewelry is high customer order and low frequency, which restricts the online rise of the jewelry industry. Online shopping is characterized by convenience, but the menu-style shopping experience is not enough to reflect the beauty, rarity and durability of jewelry. Touchable and perceptible offline consumption is an indispensable experience for consumers when shopping. Therefore, it is particularly important to optimize the offline shopping environment and improve consumer shopping experience.

Key word 2: rise of light jewelry

"Lipstick effect" - an interesting economic phenomenon that lipstick is popular due to the economic depression, also known as "low price product preference trend". Whenever the economy is depressed, the sales of lipstick will rise sharply. This is because people think lipstick is a relatively cheap luxury. In the economic downturn, people will still have a strong desire to consume, so they will turn to buy cheaper luxury goods. As a "cheap and unnecessary thing", lipstick can play a "comforting" role for consumers, especially when the soft and moist lipstick touches the lips.

"The fireworks at the end of 2022" and "lipstick effect" both indicate the bad environment. The slowdown in economic growth has a huge impact on the jewelry industry, and consumption degradation will promote the rise of light jewelry.

Light jewelry must have three characteristics: low price, high style and strong emotional attributes.

The design is full and beautiful; Material selection is careful and exquisite; Light jewelry with blessing and beautiful meaning will be the top stream of the industry.

Key word 3: young consumer groups

The consumer groups in the jewelry industry are becoming younger and younger. The consumption characteristics of the young consumer groups will promote the upgrading and innovation of product design and sales model.

The 2022 White Paper on China's Gold and Jewelry mentioned the consumption characteristics of "self satisfaction". Young consumer groups pursue individuality, advocate freedom and expand their own needs. They love to explore and are curious about new categories and new concepts; They are different, and niche brands and product innovation will emerge; They value experience and roast while watching and playing; They pursue beauty, are interested in beauty, and attach importance to product packaging.

Keyword 4: private customization

▲ CTF2021 In the first quarter of the year, D-ONE bare stone customized turnover was HK $133W, and the unit price was 1.4W (more than 2 times of the total inlay)
▲ DR and IDO customization are developing well, and ZDS will purchase BELOVES with 1800W in 2020
▲ Young brands such as Koran and Zokay have made a fortune through regional education and customization

In order to meet the changes of consumer groups, private customization will be accepted and recognized by more consumers.

Churchill said, don't waste every change. Every change will make us truly feel the end of one era and the beginning of another. So in the new year of 2023, we hope that we can base ourselves on the industry, think rationally and meet the change.

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