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The online jewelry market size is forecast to increase by USD 58.4 billion, at a CAGR of 19.98% between 2023 and 2028. Innovation in jewelry design and technology is complemented by increasing Internet penetration and the rise of mobile commerce (m-commerce). This convergence has empowered e-retailers to offer convenient services, transforming how jewelry is marketed, sold, and purchased online. Advances in design and technology have led to more intricate and customizable jewelry options, appealing to a broader customer base seeking uniqueness and personalization. Simultaneously, the expanding reach of the Internet and mobile platforms has facilitated easier access to these offerings, fostering a vibrant online marketplace for jewelry. E-retailers capitalize on this trend by providing seamless shopping experiences and efficient logistics, enhancing customer satisfaction and engagement. This dynamic environment underscores a shift towards digital innovation in the jewelry industry, where technology and consumer preferences converge to redefine the shopping experience. It also includes an in-depth analysis of market trends and analysis, market growth analysis and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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The market has revolutionized shopping through internet-based platforms such as e-commerce websites and online marketplaces equipped with mobile applications. Online jewelry retailers leverage high-quality images and detailed product descriptions to offer interactive features on their shopping portals, enhancing the customer experience. Despite concerns over fake and poor-quality jewelry products, these platforms cater to diverse tastes, from accessories to eye-catching designs preferred by working women seeking convenience and style. Features like augmented reality and virtual try-on experiences enable customers to visualize products before purchase, supported by secure payment gateways and customization options like ethical sourcing. Services include returns and refunds, addressing issues like late delivery to ensure customer satisfaction. The online jewelry market continues to grow, offering a blend of luxury and accessibility through digital platforms that redefine how consumers shop for jewelry online.
Innovation in jewelry design and technology is the key factor driving the growth of the global online jewelry market. The use of technology in the jewelry industry is increasing year by year. Evolving customer tastes and growing awareness of the availability of different designs and styles are also driving the purchase of modern designs. These factors push jewelry makers to offer a wide range in many collections, including diamond jewelry, to attract new customers. The company's innovative jewelry designs, along with the purity of precious metals and authenticity of gemstones, are key factors that help vendors differentiate their product offerings.
Moreover, unique and innovative jewelry designs are in high demand and customers are willing to pay premium prices for such products. CAD, which enables the 3D printing of jewelry, is one of the most important technologies used in the jewelry design process. Such innovations will boost the growth of the market during the forecast period.
Rising sales of fashion jewelry through specialty and fashion e-retailers are the primary trend in the global online jewelry market growth. In recent years, costume jewelry has become more popular due to its affordability, rising fashion awareness, availability of many designs and styles, and growing presence on social media platforms. Specialty jewelry online retailers selling fashion jewelry enter an online platform to expand their reach and customer base.
Additionally, the risks associated with inventory management (or maintaining his SKUs at scale) for fine jewelry are higher than for fashion jewelry. This could also support sales of fashion jewelry, boosting the market growth during the forecast period.
Customer preference for physical jewelry stores is a major challenge to the growth of the global online jewelry market. Price-sensitive customers in emerging markets prefer to buy expensive jewelry offline. Therefore, there will be higher sales of jewelry through offline platforms. Additionally, many customers like the tactile element and believe in trying out products before purchasing, preferring to visit a brick-and-mortar store for this.
Further, buying fine jewelry often takes time, so customers prefer to spend time in offline fine jewelry stores before making a purchase. These customer preferences are likely to pose challenges for players and limit the growth of the global market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Graff Diamonds Ltd.: The company offers jewelry such as rings, necklaces, and timepieces through its online platform.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the fine jewelry segment will be significant during the forecast period. Fine jewelry is made of precious metals and gemstones, is relatively expensive, and is purchased primarily from offline jewelry stores. Factors such as increasing smartphone and internet penetration, technological advancements, and changes in consumer purchasing behavior will propel the growth of the segment during the forecast period.
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The fine jewelry segment was valued at USD 14.90 billion in 2018. Nowadays, many e-commerce platforms offer jewelry made from a wide variety of metals and stones, such as diamond, plain gold, plain platinum, plain silver, plain palladium, pearls, ruby, sapphire, emerald, aquamarine, cubic zirconia, amethyst, others. Moreover, this plain gold jewelry is the most popular around the world. This factor encourages consumers to purchase fine jewelry online. Moreover, the omnichannel integration of product display also encourages jewelry players to attract more customers and increase online traffic for fine jewelry. Such factors will increase the segment growth during the forecast period.
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In North America, high-end, expensive jewelry is popular due to high consumer disposable income. In the United States, changing lifestyles and changing consumer tastes have increased the demand for fashion jewelry, contributing significantly to the growth of the market in the region. Sales growth by specialty and fashion e-retailers is higher in North America for both fine and fashion jewelry. In addition, innovation in design and expansion of the portfolio of collections are expected to propel the regional market during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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The market thrives on influencer marketing and collaborations with jewelry brands, leveraging social media users to reach diverse customer demographics. Platforms offer exclusive discounts, promotions, and user-friendly interfaces on online interfaces and intuitive website designs, enhancing the experience of online jewelry shopping. Consumers benefit from product videos and virtual try-on features utilizing AR technology to address authenticity concerns amid risks of counterfeit jewelry. Trust is fostered through options for physical examination and secure online shopping or app-based shopping experiences. The market caters to a wide range of jewelry items including necklaces, pendants, bracelets, brooches, watches, and anklets, appealing to both men's and women's jewelry preferences, and even children's jewelry. Company-owned websites serve as reliable shopping portals offering eye-catching designs and emphasizing durability while adhering to international trade rules for seamless transactions worldwide.
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Industry Scope |
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Report Coverage |
Details |
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Page number |
183 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 19.98% |
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Market growth 2024-2028 |
USD 58.4 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
16.54 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 39% |
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Key countries |
US, China, Canada, UK, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Chanel Ltd., Chow Tai Fook Jewellery Group Limited, Compagnie Financiere Richemont SA, Graff Diamonds Ltd., Hermes International SA, Hstern Jewellery Ltd., Kalyan Jewellers India Ltd., Kering SA, Le petit fils de L.U. Chopard and Cie SA, Luk Fook Holdings International Ltd., LVMH Group., Malabar Gold and Diamonds, Pandora Jewelry LLC, PC Jeweller Ltd., Riddles Group Inc., Signet Jewelers Ltd., Stuller Inc., Swarovski AG, The Swatch Group Ltd., and Titan Co. Ltd. |
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Market dynamics |
Parent market analysis, Market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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