The latest trends and the prediction of the future of the jewellery industry
Good news for all the people dealing with gold is that the annual sales of gold are expected to increase 5-6 per cent more every year. The yearly jewellery sale across the globe was 148 billion Euros, and this year the sales can touch a record of 250 billion Euros. The jewellery market trend is also expected to rise at a rapid pace when compared with the records of the previous three decades.
The jewellery industry is also transforming itself into a dynamic approach, and hence the consumers and the industrialist have to come across various changes in the coming few years. One negative comment to cherish for all the people trading with jewellery is, the traders of this generation have to plan according to the market rather than doing a simple business which they performed in the past. We have analyzed all the latest trends and hence brought a few of them below this article.
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How can globalization of brands affect the jewellery industry?
During the evolution of business standards in the industrial revolution 2.0, the international presence of companies matters but to what extent will be our next target of approach. A recent study also proves that some national brands have also defeated the likes of international brands like Zara and H&M. The same path is also expected to be followed in the future of the jewellery industry.
We all know about the popularity of Cartier and Tiffany & Co in the global jewellery market, proving the trend as the best example of the globalization of brands.
All about the demand and growth of the branded jewellery
One of the best things to correlate with the trend, as mentioned above, is the watch market. Almost 60 percent of people from all across the globe love to buy branded watches. Most of the experts also overviewed that the 2020 jewellery market would probably lie in the hands of the branded companies. One reason for this too is most of the modern age consumers are from a millennial population. Hence, they are cherishing the purchase over quality assurance and not on the prices of the element purchased. We can conclude the future of the jewellery industry with a green flag.