Gen Zs and millennials are the most dominating fashion shopping age groups. Many in the Gen Z community have already begun to burgeon fine jewelry customers at this young age. Therefore, it is crucial for fashion houses to meet their expectations and drive more sales with engaging customer experiences. The Jewelry Design Software is a customization solution that helps ornament companies to leverage these trends and lets their customers define their style statement. Its digital features establish transparency with shoppers and help brands build a strong and warm relationship with them.
Jewelry Design Software Offers Customization Solutions to Entice Young Buyers
The curiosity and interest in technology-driven fashion houses are rising among the young buyers, especially because this is the first generation to never have experienced a time without the internet. Besides, these technological shift changes help buyers be themselves and influence others. Many studies indicate that gold jewelry is trending among buyers, and it has shaken up the market dominated by silver and diamonds. This new generation’s changing cultural values, and shopping habits are compelling fashion companies to shift gears and meet customer expectations. The culturally and technologically confident young generations, with a natural affinity for fashion, are patriotic and don’t want to favor excessive consumption. The majority of this generation considers themselves expert consumers who do their homework before purchasing products.
Vogue Business in China recently surveyed 6000 Chinese consumers ranging in age from 18 to 64 years to dissect the cultural values of China’s Gen Z in a new whitepaper. These surveys helped the firm gain a more intuitive and specific understanding of this generation. The in-depth cultural values, the prospects of domestic products, and the future developments of global fashion brands have reshaped the way brands target their customers and how customers perceive fashion houses. In the current blog, we shall highlight many factors that transform consumers’ views of brands and how companies must cater to their needs.
Let us look at the numerous elements that can help jewelry brands retarget customers:
Spike in Gold’s Popularity
As per the reports byCCTV FINANCE, Gen Z and millennials are emerging as the dominating shopping group, especially in Beijing malls. In an interview with CCTV Finance, YE Bin, the store manager of China Gold’s flagship store in Beijing, says their sales increased by 60 per cent year-on-year during the festive season, and young customers specifically drove it. The statistics indicate a growing potential in the jewelry sector, especially as the demand for gold increases. A survey conducted by the World Gold Council 2021 suggests that 60 per cent of the Chinese consumers are yet to move to the gold segment and are willing to purchase it. Many local jewelry brands have started to encash the trend by collaborating with well-known franchises to tap young buyers. A few years back, Luk Fook Jewellery collaborated with the Chinese video game Nezha; and Chow Sang Sang and Cai Bai Jewellery have both launched a joint series with the Forbidden City.
Some brands are moving to another interesting marketing and expansion strategy to catch up with customers’ interests and attention. They are more interested in launching sub-lines or sub-brands is also a smart way to get in front of younger customers. In 2016, Chow tai Fook launched the trendy jewelry brand Monologue, and in 2017 launched the brand “So In Love,” which targets the luxury wedding market; and, in 2019, Chow Sang Sang launched the fashion concept brand Minty Green. Additionally, gold jewelry has also made progress in craftsmanship in the past few years, with a resurgence of ancient methods that were often dominated by hand and adding texture. These were then developed with 3D and 5D gold craftsmanship to enhance durability and flexibility. These techniques can improve gold’s often too soft texture and therefore appeal. The improvement in the manufacturing of gold ornaments has also helped accelerate the growing trend of the category. The young buyers are particularly moved by the rising use of technology in the creation of jewelry. Similarly, our 3D jewelry design software, a customization solution, helps luxury brands cater to young buyers’ needs and enables them to create rich, sophisticated, and personalized designs as per their requirements. Your customers can seamlessly change their ornament’s design, shape, and color with a user-friendly interface and gain a 360-preview of the customized product using the digital feature.
Careful Spending Behavior
Modern buyers realize that their hard-earned money can be spent on products that they won’t need later or don’t possess any real-time value. They are extremely calculative and careful about which products they spend their money on. Their price-sensitive characteristics make even premium brands wonder and carefully plan their pricing strategies to target these buyers. The nature to move away from worshipping brands and brand royalty is rarely found in these individuals, thus, enabling them to make more rational consumption decisions. Recentsurveys suggest that almost 70 per cent of Gen Z shoppers describe themselves as professional consumers who examine their needs, do their homework, and shop around before making a purchase.
Additionally, buyers identify themselves as “trend followers”, “excessive shoppers”, and “patriotic spenders” at 19 per cent, 14 per cent, and 11 per cent, respectively. Young shoppers are ready to spend money where it is cost-effective, and this type of attitude towards spending has become the yardstick for Gen Z to measure whether a product is worth buying; however, cost-effectiveness does not mean “low price”. The budding shoppers say that when choosing an item, they first consider the suitability and durability of the item.
However, despite proclaiming themselves as rational consumers, Gen Z is ready to pay for anything that allows them to be themselves. Their love for themselves is so high that they are ready to “give it all” when purchasing things they love. In fact, this trend was further supported by influencer Lexi Zhuang who personally consumes products more rationally and says that when young buyers see something that makes them appreciate fabrics, tailoring, and print, it will surely compel them to purchase.
Scope for Authentic Marketing
The internet native generation doesn’t blindly follow trends but is also open to them. According to the survey, 52 per cent of Gen Z shoppers indicate that they are open, inclusive, receptive, and understanding of trends. Many experts suggest that although several consumers do not actively follow KOLs, they prefer authentic buying and marketing trends. Celebrity endorsements and social media marketing enable shoppers to understand some brands better and “reduce the time cost and research cost of my shopping”.
However, 43 per cent of Gen Z consumers say that they love authenticity and hate hypocrisy when it comes to marketing which indicates that they are less tolerant of fake marketing and have adopted a shrewder attitude toward fashion brands that don’t comply with their demands. Moreover, they are moving to local marketing and stores that offer a more authentic vibe to the product they buy. Numerous stores have adopted the concept of local chic, which makes it easier for them to be on Gen Z’s radar. It doesn’t necessarily mean that the product is made locally, but it must resonate with their identity and represent regional or national elements. They are keen to align with those luxury houses with whom they can gain cultural confidence and purchase products that have an oriental aesthetic. Tech-savvy generation
Gen Z looks forward to seeing domestic and foreign brands gain a deeper understanding and interpretation of traditional culture rather than simply stacking symbolic elements or pushing patriotic slogans. Some respondents said that the “national tide” movement in recent years excites people, but only for the time being, and more time and attention are needed.
To sum up the blog, modern buyers value innovative marketing strategies and technologies that ensure and empower their spending power and enable them to make a more informed decisions. They prefer rejuvenation. Consumers have already begun to recognize brands that value and recognize luxury brands’ efforts to innovate their business to meet the shifting consumer behavior. Therefore, iDesigniBuy’s jewelry design software online helps fashion and luxury brands leverage these trends and help oversee emerging shopping behavior. Our robust and relevant customization solutions and digital features help brands let their customers design their fashion according to their style statements.