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NEW YORK, May 29, 2023 /PRNewswire/ -- The online jewelry market size is estimated to increase by USD 36.23 billion, accelerating at a CAGR of 15.55% during the forecast. The growth of the market is driven by innovation in jewelry design and technology.

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Online Jewelry Market– Market dynamics

Leading drivers - Innovation in jewelry design and technology is the key factor driving the growth of the global online jewelry market. Evolving customer tastes and growing awareness of the availability of different jewelry designs and styles are also driving the purchase of modern designs. These factors push jewelry makers to offer a wide range of jewelry in many collections to attract new customers.

Key trends - Rising sales of fashion jewelry through specialty and fashion e-retailers are the primary trend in the global online jewelry market growth. Specialty 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.

Major challenges - 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. Additionally, buying fine jewelry often takes time, so customers prefer to spend time in offline fine jewelry stores before making a purchase.

In addition to the forecast, the report also highlights the key opportunities by analyzing drivers, trends, and challenges for the market!

Online Jewelry Market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

  • Key purchase criteria
  • Adoption rates
  • Adoption lifecycle
  • Drivers of price sensitivity

Online Jewelry Market– Vendor Analysis

Some of the major online jewelry market vendors are:

  • CHANEL Ltd.
  • Chow Tai Fook Jewellery Group Ltd.
  • Compagnie Financiere Richemont SA
  • Hermes International SA
  • Kalyan Jewellers India Ltd.
  • Kering SA
  • Le petit fils de L.U. Chopard and Cie SA
  • Luk Fook Holdings International Ltd.
  • LVMH Moet Hennessy Louis Vuitton SE
  • Malabar Gold and Diamonds
  • Signet Jewelers Ltd.
  • The Swatch Group Ltd.
  • Titan Co. Ltd.
  • Hstern Jewellery...

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