We all can agree on the fact that pleasing and convincing younger buyers is a challenging task. They are much more aware than the previous generation; they know about CSR, ethical trends, and tech-savvy; thus, fooling them would be very unwise of the luxury brands. The best jewelry design software enables companies to entice millennial consumers as it offers customization solutions, ensures sustainability, and helps gaining more revenue.
Online Jewelry Design Software Enables Brands in Gaining Traction from Buyers
In a highly digitized and fast-paced luxury industry, brands are finding it challenging to adapt to new trends while still struggling to overcome other barriers, such as cultural differences quickly. Consider the case of the Chinese market. By looking at the statistics, many experts, such as Bain and Company believes that the country is expected to account for nearly 50 percent of the global luxury market by 2025. The sign indicates that the industry is anticipated to recover from pandemic effects.
It has become even more imperative for brands to tap into the consumption habits and preferences of young spenders. People worldwide are diversified, sophisticated, and complicated, therefore understanding their needs and requirements is necessary for brands and may eventually decide whether they have a chance at winning the lion’s share in the world’s most important market.
Here are a few ways luxury companies can gain traction from consumers:
- Changing Perception Among Buyers
How people perceive your brand and what is its image impacts the business of a company immensely. Yes, Gen Z has grown-up accustomed to big fashion houses, which means that luxury brands need to be careful with their pricing as this factor influences buyers’ choice the most. Earlier shoppers gave weightage to craftsmanship and brand identity when buying luxury goods, while these days, customers go with the brand that offers products at premium prices.
Apart from prices, buyers also prefer to buy companies from companies that have successfully embraced diversity and inclusivity. Consider the case of Cartier posted a video on the Chinese social media platform Weibo this week promoting its “Trinity” ring. The brand described in the video’s caption as representing the “bond of love” — ahead of the late-August Qixi Festival, one of China’s traditional Valentine’s day equivalents.
- Rising Concern of Overconsumption
Generally, the older luxury consumers would buy jewelry only when the need arises, but now consumers want to purchase stuff whenever they wish. Sometimes, these consumers also rely on their parents’ income to buy such things. Many are also willing to take loans to purchase the luxury goods they long for, exacerbating overconsumption and debt for younger generations.
#XiaoXingMao for #LVVolt. The Chinese model and #LouisVuitton ambassador conveys the undeniable energy of the new Fine Jewelry Collection. See more from the campaign at https://t.co/4yyJSnMjdQ pic.twitter.com/IIZ7rH5eOI
— Louis Vuitton (@LouisVuitton) August 17, 2020
The jewelry design online allows brands to control their production and let consumers design their ornaments at affordable prices. The tool helps brands take necessary steps towards sustainable business and revamp its existing model to accommodate customization, which will not only pours in more revenue but also keeps a check on the environment.
- Prevailing Demand for Corporate Responsibility
People are different, and therefore, their needs are also unique, and offering something that fits and suits everyone is impossible. The younger population is always seeking for brands that provide one-of-a-kind products. On top of it, when brands are in a position to help the ones need, therefore, brands, such as Accessorize, empowers individuals from disadvantaged communities across Asia and helps drive sustainable change through a range of education, healthcare, and income-generation projects.
Therefore, brands must invest their resources in things, like community services, doing charity, as these are the ways to reach out to the people and help those in need so that they even have a fair chance to come up and fight in the cut-to-cut competition.
The Ball is In Your Court-
No outfit is complete without the right accessory, and it should be something that helps to enhance the look and not distracting it. Yes, we all agree that every occasion requires a different set of ornaments, and designing all of them is impossible. To make the work more comfortable, we offer jewelry design software by iDesigniBuy that has mobile responsive layouts enabling brands to let their customers create their unique fashion sense and draw confidence from it. The tool offers easy to use interface that can be accessed and used by even a non-technical person.
If you are willing to explore more about the accessory market,
Collaborate with us now!