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Truth about online custom jewellery market

Gems and jewelry are a part of many cultures and customs around the world. For ages, people have been using gems and jewelry as ornaments, gifts, and for investment purposes. The major segments of the Gems and Jewelry industry are Gold Jewelry, Silver Jewelry, Platinum Jewelry, Diamond Jewelry, Costume Jewelry, and Other Gemstone Jewelry.

Jewellery Design

The jewelry industry is a dynamic and fast-growing industry. According to the survey, the largest jewelry market is the United State with a market share of 30.8%, Japan, India, China, and the Middle East each with 8-9%, and Italy with 5%. If we observe the current status of jewelry Market then the United States shares 59%, China 31%, India 15%, North America 22%, Western Europe 9%, Eastern Europe 3%, Latin America 2%, Middle East & Africa 3%, and Australia 1%.

China is experiencing rapid population growth, a rise in urban concentration, and an expanding middle class. The upper class is also growing as the society shifts from production to consumption driven. China is now the second largest world economy by GDP (Gross domestic product), behind the United States and followed by Japan and Germany. It is also the world’s second-largest retail market.

Demand and jewelry sales in China continue to grow: Between 2005 and 2012, sales grew 224%. Greater China (including Hong Kong & Macau) is now the world’s second-largest consumer of luxury products. Jewelry is also the third largest investment category in China, behind real estate and automobiles. In Q1 2014 China overtook India as the world’s largest consumer of gold, however, Q3 reports from the World Gold Council show India once again in the number one place. Nonetheless, though India remains

Following Below Table shows the Compound annual growth globally-

Jewelry Market Size-

2015 Market Size

% of Market

CAGR 2010-2015

2016 Growth

2020 Market Size

CAGR 2015-2020

Word

309,839

100%

9%

4%

387,671

5%

Asia Pacific

183,732

59%

14%

4%

243,842

6%

China

96,760

31%

15%

4%

135,248

7%

India

46,527

15%

20%

6%

60,585

5%

North America

69,239

22%

5%

3%

80,380

3%

Western Europe

29,044

9%

-1%

1%

30,426

1%

Eastern Europe

8,306

3%

9%

-4%

8,931

1%

Latin America

7,664

2%

7%

4%

9,035

3%

Middle East & Africa

8,567

3%

8%

7%

11,887

7%

Australasia

3,287

1%

2%

-5%

3,170

-1%

Note- Market size retail value in Million USD. Historic CAGR uses current prices. Forecast CAGR uses constant 2015 Prices.

As we know that the industry is as dynamic as it is fast growing. Important changes come under both in customer behavior as well as in the industry itself when the time changes. So the jewelry players can’t simply follow the previous technique to do the business because it is important to change previous technique for surviving in the business industry. In all over markets over the past decade, online sales of apparel have grown at double-digit rates; in the United Kingdom, for instance, online sales now account for 14 percent of total apparel sales, up from approximate an only 1 percent in a year. It was found that the sale of jewelry from online stores is 7-9%. But I feel it is not a bad number. Earlier, when online purchasing was a new concept, the number of shoppers was less, but eventually, a strong affinity towards online shopping was viewed. As per our survey, only 5-6 percent customers use online jewelry design software to customize their jewelry as per their requirement.

As a general survey, the main platform where people advertise their business is Facebook, Instagram, Twitter, Snapchat, and Pinterest. Maintaining an active presence on the platform is vital because it’s currently the most global social network with more than 1.5 billion users. These are the platform with the ability to create custom audiences and target by interests and demographics. These platforms are also very useful because it allows for a variety of different functions such as short-form posting, long-form posting, and photo/video sharing. It encompasses most features of other social networks, making it a popular choice for marketers.

As per industry standard mostly websites provided 3D design tools to customize their jewelry. From where users can customize their own required jewelry as per their choice. From their customer can select the style, color, design, and gems stone to customize their jewelry. We have also a jewelry design software from where customers can design their own jewelry like a pendant, ring as per their choice by selecting product size, metal, grooves/grooved edges, diamonds, stones and other items to decorate the selected jewelry product.

If you plan to build a new online jewelry shop or need to revamp our current website with new value-added features then our online jewelry design will be a gift to your customers. This feature-rich jewelry design software helps the customer to custom-made jewelry. It provides end users with numerous choices to create an attractive jewelry product in just a few minutes. This is the perfect jewelry design tool that enables you to sell the custom products that your customers want to buy, thereby boosting your sales.

The main key features of our Online Jewelry Design tool is as follows-

  • It is a feature-packed custom product design tool
  • Easy to integrate with any website
  • Loaded with different eCommerce elements.
  • Our customization tool helps users to become more organized, so they can invest more time in jewelry making.
  • Very easy to use and manage.