Jewelers Utilize Technology to Introduce Online Shoppers as Gold Prices Fluctuate.

The traditional way of shopping for jewelry by hopping from one store to another is now being replaced by online shopping. With faster delivery and better product visualizations, consumers are becoming more comfortable making big-ticket purchases like jewelry online. Despite rising gold prices, which were up 16.5% year on year as of April, consumers are still drawn to online jewelry shopping due to convenience and comfort.

Jewel360 has compiled a list of ways that retailers and vendors are using technology to boost jewelry sales. To adapt to the online market, jewelry manufacturers are finding ways to reduce overhead costs and attract new customers through customized user experiences. With the increasing share of e-commerce in total U.S. retail sales, jewelry has not been left behind as more people turn to online shopping.

During the holiday season, online jewelry sales see a significant increase with rings, earrings, necklaces, and other accessories being among the top-selling gifts on days like Cyber Monday. While the industry experienced a decline in sales during the pandemic, there has been a boost in online sales since then. However, forecasts for 2024 are mixed with some predicting a downturn in e-commerce sales.

Looking ahead, sustainability is expected to play a key role in the future of the fine jewelry and watches industry. Analysts predict that sustainability could influence a significant portion of fine jewelry sales by 2025. As consumers increasingly shift towards online shopping, jewelry businesses are evolving to cater to this trend and provide a seamless shopping experience for their customers.