How Technology is Changing the Jewelry Industry

July 21, 2017
Posted in Blog

How Technology is Changing the Jewelry Industry

July 21, 2017 Alex
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technology is changing the jewelry industry

 

It’s no longer a secret that technology is changing the jewelry industry. Whether it involves web design, search tools, cloud solutions or e-commerce platforms, online jewelers are increasingly becoming more empowered by new web applications. As a recent example, Tiffany & Co. teamed up with Net-A-Porter in 2016 as its e-commerce partner to expand its reach from 13 to 170 countries. Here are other compelling ways that technology is changing the jewelry industry.

How Technology Is Accelerating Industry Growth

According to Research and Markets, the online jewelry market is expected to grow from 4 to 10 percent of the jewelry market by 2020. Furthermore, online fashion jewelry sales are expected to grab 15 percent of the market in that same time frame. Much of this expansion will likely result from startup jewelers embracing e-commerce and various disruptive technologies.

Meanwhile, Plukka in Hong Kong has emerged with an innovative hybrid solution for brick-and-mortar jewelers called “view on demand.” It allows online visitors to schedule sessions for viewing jewelry in person in their home or office. Since orders are based on demand, the company does not have to store much inventory.

Tools That Improve Customer Experience

Another way in which technology is changing the jewelry industry can be sensed with GemFind’s user-friendly cutting edge tools that improve both the online jeweler and customer experience. Ring Builder® is a customization tool that allows online customers to design their own engagement rings. You can showcase diamonds from suppliers with customization tools for mark-up by cost, carat weight or certificate type. This tool easily integrates with JewelCloud®, which connects your store with suppliers, retailers and partners.

One of the main themes of how technology is changing the jewelry industry is that it allows jewelers to easily manage their entire business from a central location. You won’t need to spend enormous money on proprietary software, since GemFind creates ready-to-use jewelry industry solutions such as DiamondLink®, PendantBuilder® and StudBuilder®. The combination of these powerful tools can facilitate these business necessities:

  • Point of Sale (POS)
  • inventory
  • communication with customers and vendors
  • social media
  • responsive web design

Conclusion

As technology is changing the jewelry industry, it’s important for serious competitors to take note of all the modern tools that can save them time and money. Learn more about how GemFind works with jewelers to improve the online customer experience that helps them find the jewelry they want quickly and easily.

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