• Growth of branded jewelry 

While branded jewelry accounts for only 20% of the market share, it accounts for over 50% of the sales. The types of consumers that would invest in branded jewelry include those with new money, those looking to create an elite impression in society, and those who resort to brands for self-realisation. 

• Internationalisation of the brands 

Jewelry is expected to follow a similar pattern as apparel to transform from a local business to become a truly global entity. A known brand takes precedence over the unknown for most consumers. Successful regional and national brands will look to expand borders and make a name on the world map. Participating in international jewelry fairs is a good way for jewelry players to explore the world in an organised fashion and enter new markets. 

• Increase in fast fashion jewelry 

Fast fashion has a short time-to-market and meets the trending needs of the buyers quite rapidly. Fashion market jewelry is likely to see explosive growth in 2021. Consumers make spontaneous purchase decisions when it comes to fashion jewelry.

Generation X does not get carried away. The following activities can be carried out to connect with these prospective customers: 

• Online 

Gen X likes to analyse products before making the final decision. Online platforms would work very well for them because they would compare prices and understand the name that the brand has made in the market. Ensuring strong content, engaging yet informative words, and trustworthy testimonials will be a sure-fire way to bring them on board. 

• Offline 

Branding, and intelligent shop assistants are critical to establishing trust and communication with Gen X. Jewelry professionals should convey the right message in the right tone with personalised attention for a successful sales experience. 

Informa Markets has organised the Istanbul Jewelry Show on 7-10 October 2021 at CNR Expo, Istanbul Fair Center. The event will be attended by jewelry businesses from all over the world, showcasing a wide variety of jewelry styles. Click here to register online.