Just as the fashion and luxury industries are preparing to understand the nuances of the changing landscape, there is a new possibility and avenue left to explore, enticing millennials and gen Zs. The new-age buyers are more practical, realistic, aware, humble, and inclusive. Luring them in and making them your loyal customers can prove to be a mammoth task; however, with the help of the best jewelry design software, a customization tool that offers an online platform to ornament companies and allows their buyers to design their products in whichever they want. These strategies help companies increase their visibility among buyers and entice them with a lucrative shopping experience.
The members of Generation Z buyers range from 15 to 25, and they have already made their presence felt in the market by spending an estimated $163 billion this year. Therefore, brands must better get them on their side if they are willing to enjoy a rosy future. In fact, the future success of the jewlery industry will depend on our understanding of their needs and wants. Get this right, and we can all look forward to strong, profitable years. Get it wrong, and we could be destined for the scrap heap – not overnight maybe, but ultimately. Let us dive in a little deeper to understand what goes in the minds of today's younger generation and how they perceive fashion companies and their products while shopping.
We all know that gen z and millennials love social media alike and are extremely active to interact with various people and brands through Instagram, WeChat, WhatsApp, and many other applications. These platforms offer them a global community to regularly compare products, experiences, and opinions. Users on Instagram alone publish over 95 million posts on a daily basis, and its users click more than 4.2 billion 'likes'. Just imagine the scale of this opportunity if your new product meets their aspirations and desires. There is a higher probability of increasing the audience base as well as the potential client base that can escalate in minutes. Let us consider the case of movies to make the case stronger. The modern shoppers are generally big-time movie buffs, and in recent times, Marvel was the only film that created enormous buff around itself. In fact, social media was bombarded with its feeds, and many apparel brands even used its famous dialogues on their t-shirts to gain some momentum from avid movie lovers. Realizing the movie's significance to consumers, the Danish jewelry brand Pandora is launching an 11-piece Marvel collection inspired by The Avengers' heroism, strength, and vulnerability.
The collection launched on February 17, the Marvel x Pandora collection and included ornaments and charms featuring the Black Widow, Iron Man, Captain America's shield and other iconic Avengers heroes and symbols. The brand has priced the collection in a similar range to other Pandora collections, added the brand, and will be available online and in all 2,600 Pandora stores globally. This collaboration is widely applauded by a broad marketing team campaign that led to the partnership with Marvel and also formed a crucial part of Pandora's growth strategy 'Phoenix,' which sees the company investing significantly in its core product platform, Moments, alongside collaborations with other big brands to build awareness and drive brand desirability.
The example mentioned above seconds the notion that having an online platform to display collections is connected with the shoppers, and they are most likely to purchase from the brand. And in this scenario, the icing on the cake would be offering a customization solution. The 3D jewelry design online allows luxury brands and retailers to let their consumers design their ornaments and give them their taste, which may resonate with the current fashion trends or allow them to start a new trend on their own.
The increased use of the internet and many other activities, such as climate change, have compelled tech-savvy minds to become responsible and shop from companies that manufacture ethical and sustainable products. In certain cases, shopping for second-hand products makes a lot more sense for these sustainability-minded, financially-savvy consumers. In a study, it was found that one in three members expect to buy second-hand clothes, shoes, or other accessories, registering an increase of 46 per cent from the number reported in 2017. They are buying and selling second-hand items on sites such as Poshmark, Depop, and StockX. The demand for second-and goods driven by Gen Z buyers is estimated to accelerate and re-boost the resale sector to $US51 billion by 2023. So, what is the appeal of second-hand? The straightforward answer is that it is considered to be a sustainable way to keep up with trends. Climate change looms in their minds, and they want products that reduce environmental impact.
Almost 70 per cent of this generation considers sustainability to be an important factor in making a purchase. Eco-friendly products and brands are booming, and second-hand goods make sense because it involves reusing a product that otherwise may have been discarded. Therefore, a nature-friendly brand Mother of Pearl, is launching a jewelry collection with Monica Vinader inspired by "finding beauty in unexpected places," highlighting both brands commitment to social impact and the planet. The 12 piece of the partnership collection embraces organic shapes and earthy tactility, with each piece drawing on "nature's striking irregularities to celebrate what makes us unique," explained the brands in a statement.
Conclusion-
In a nutshell, the younger consumer is driving the force of the fine jewelry market, not because they are core members of the bridal jewelry, but because their income levels have increased and they have the confidence and passion for purchasing premium-priced products. This is the appropriate time for enticing these creative minds and putting them to better use that generates more revenue, satisfies their needs, and balances nature. The best jewelry design software by iDesigniBuy offers similar solutions to ornaments brands that meet all buyers' expectations and thrive in the luxury market.
Vivek Ghai has over 18 years of experience in the software services industry. He is the founder of a software company specializing in web and mobile application development. He has hands-on experience in operations, digital and ecommerce, digital marketing and business development in the technology industry. He advises start-ups and also is a technical co-founder for a few of them.