Technological advances have touched various sectors and the jewelry industry has not been left behind. Unlike before, technology has made shopping, communication, weather forecasting, farming and many other aspects of human life more manageable. Similarly, technology is having an impressive and unmatched impact on jewelry making.
From trending designs like the current diamond stud earrings to greater access and availability, significant strides have been made by jewelry makers, as well as traditional and online retailers. Below are a few ways technology has benefited this sector.
1. Multifunction or wearable technology
Modern jewelry lovers like to wear jewelry that offers benefits that are not just an accessory for their outfits. In recent years, jewelry manufacturers worldwide have found ways to design products that match customers’ outfits while functioning as essential gadgets through technological integrations.
Most manufacturers have embraced the common idea of replacing rubber bands in their jewelry with fitness trackers. A popular company that does this is Ring, which was founded in 2014. Rings smart bracelets connect to smartphones and other handheld devices to track user activity, merge breathing exercises, and provide social media notifications.
2. Computer Aided Design (CAD)
Various industries have adopted the use of computer aided design software to create technical illustrations and precise drawings. The software can generate precise 2D and 3D models. The jewelry industry has recently adopted this technology to build virtual prototypes that can be duplicated during manufacture.
With CAD, customers can easily collaborate with jewelers to design their diamond rings and other pieces. Customers suggest redesigns and see how their designs look in real life before investing. Customers can swap out metals, gemstones and other additions to compare the look of the final piece.
3. Accelerated growth
According to the latest surveys, the jewelry industry will grow by 4% to 10% in the next few years. As more and more customers use online shopping, sales from online platforms are expected to increase by 15%. These trends are attributed to the increasing adoption of e-commerce business practices by jewelry manufacturers and retailers.
The availability of online tools that refine the customer experience is the other reason for the accelerated growth. Modern tools developed on the basis of new technologies benefit online customers and retailers immensely. For example, Ring has developed an online tool that allows prospects and customers to design their favorite engagement rings. Customers can customize their purchases based on carats, certifications, and budgets.
4. Online Marketing
Extending their marketing strategies online has enabled jewelers to target a wide audience effectively. Using insights from online analytics, brands and retailers can offer their customers jewelry suggestions based on their personas. Manufacturers and retailers also get instant responses or feedback from customers, which proves useful for improving the customer experience.
Digital marketing allows brands to keep customers informed of new products, discounts and offers, and jewelry events in their area. This improves brand awareness and increases sales. The increasing adoption of online shopping complements online marketing efforts. Online stores allow customers from different locations to browse and buy their favorite jewelry from manufacturers and retailers worldwide. Online shopping has replaced retail shopping, especially for customers with fast-paced lifestyles.
5. 3D printing
For various reasons, jewelry enthusiasts have argued that 3D printing is likely the future of fine jewelry. This technology is useful in the last stage of production, where significant customization occurs. More and more manufacturers and designers in this industry have used this technology to produce unique designs. The introduction of 3D printing in the jewelry manufacturing process significantly reduces production costs.
6. Light jewelry
The jewelery industry has also benefited greatly from electroforming. This technology allows manufacturers and designers to create light but strong jewelry. Electroforming creates thick layers of gold or silver that are used to make lightweight jewelry, especially earrings. Electroforming of gold and silver is done in a rocky electrolytic bath, while platinum requires heated baths.
Lasers have significantly changed the diamond industry and are slowly making their way into jewelry making. This growing technology has replaced traditional jewelry making processes such as metal cutting, engraving and welding. The advent of laser technology has made it easy for manufacturers to meet the increasing demand for custom jewelry designs. Several popular diamond brands use laser technology to engrave identification numbers and brand logos on their products.
Modern technology has significantly changed various elements in the jewelry field. The integration of technological systems into jewelry production has also significantly reduced production time. This has helped manufacturers to meet the increasing demand from consumers worldwide. Similarly, technology has also made it easy for consumers to shop for their favorite items.