Buying jewellery is an emotional experience and most times it is being purchased for a special person or a special event.
This is why so many jewellery purchases happen in-store rather than online. But this is because no trusted marketplace exists which gives both the customer and retailer confidence to buy and sell online.
In the past, most purchases were done instore and the jewellery industry is not usually associated with embracing technology. But this is all changing.
At MarketOrders we have seen the trend shifting to embrace technology in the jewellery market.
We work hard every day to help our customer, the independent family jeweller to thrive on the high street by using MarketOrders as their technology partner.
We do this by leveraging the power of technology which allows our customer to access products globally using our marketplace.
For independent retail jewellers to remain competitive they need two things- incredible designs and lower prices in order to attract customers
MarketOrders is helping to create this by becoming the leading marketplace globally to offer the widest choice of products through one secure global jewellery marketplace.
Based on our extensive experience and in-depth industry expertise, here are 5 trends that will shape the jewellery industry in 2019
- Customers want to shop more locally
It is a paradox that the more globally connected we become the more locally we tend to shop.
This is good news for the high retail jeweller. Commoditized products like toothpaste and groceries can be bought online but jewellery purchases are emotional and in most cases, customers want to see the product in the store. MarketOrders can help drive customers in store by providing the retailer with the widest choice of products which will attract in-store customers
photo credit: https://pixabay.com/en/woman-girl-model-try-style-1326709/
- The high street is NOT dead
The consumer journey typically starts on the mobile device but is increasingly ending up in the physical store. An increasing amount of people actually prefer to go to store. According to new research from Vista Retail Support, 81% of UK consumers see the physical store as vital to the shopping experience and 70% say they enjoy the full experience of going into stores to browse, see what’s new and buy what they like.
- Technology to drive in-store purchases
The exciting use of technology will entice more consumers inside a store, research from Vista Retail Support showed 61% of consumers would visit regularly to use virtual and augmented reality applications, smart mirrors and interactive gaming. We will see an increasing number of stores offering virtual experiences. Imagine putting on a headset in store to see the mine where your gold and diamonds came from!
- Customisation & data
Retail jewellers will continue to embrace customisations as they will begin to understand that customers will purchase more when they receive personalised recommendations and offers on smart devices. There will be an increasing trend and need for jewellers to better understand their data.
- Millennials and Post Millennials drive purchases
This market segment is increasing, has purchasing power and most importantly are digital savvy. They embrace shopping online as well as making the majority of purchases through their smart devices. The jewellery industry will become more mobile optimised as they start to adapt to this new customer who values exciting, transparent and smooth shopping experiences. This generation also values experiences and would come in store if the experience was exciting.
photo credit: https://pixabay.com/en/email-business-smartphone-screen-2056028/
MarketOrders helps independent retail jewellers to get the products they need faster, cheaper and direct from global suppliers. If you are an independent retail jeweller find out more at https://marketorders.net/
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Written by MarketOrders