We live in a world of our own design, where we are positively surrounded by and immersed in an increasingly competitive marketplace. We often go about our daily business, entirely or at the very least partially aware that our perception of industries heavily controls how they operate going forward. This is true in any industry you can think of. It happens to be especially true when it comes to jewellery. Smart businesses operate with the realisation that if their consumers lose interest, they lose their credibility and their standing in what has grown to become an exceedingly competitive marketplace landscape. It is no secret that the opinions and values of consumers have a significant sway over the way that industries handle their business going forward, but what may come as a surprise is that sometimes the industries or businesses are unable to adapt in time, effectively falling flat in times of transition and evolving realities. The jewellery industry, however, is not one of them. One of the most ancient industries in the world, the global jewellery faction is one of the most successful because of its inherent ability to adapt, overcome, and realign – even when other industries are flailing in the pursuit of doing so.
The marketplace is consistently shifting and changing its fundamentals. No matter how much the marketplace changes, however, some things stay the same. Take the jewellery industry, for example. Through shifting eras, the jewellery trade has remained strong. A facet in the style sector, this is perhaps at least partially due to the jewellery industry’s ability to shift and realign with the times. This is an industry that has mastered the art of shifting marketing strategies and business methods and models to realign with consumer expectations and values. Whether it is taking note of consumers’ preference for yellow gold over sterling silver or understanding and responding to consumers’ ethical expectations and values when dealing with industries of any kind, the jewellery industry has adapted in due course, allowing itself to flourish through the transitions, instead of sinking or struggling to swim through the tidal waves that occur because of the changes.
Consumer tastes tend to change over time. Of course, this refers aesthetics, but it also means ethical and sustainable sourcing and traceability as well. Whether the coveted pieces are prized pearl earrings, or clear-cut diamonds, or anything in between, the modern consumer has come to value ethical practices above all else. Consumers today would rather have jewellery that was sourced ethically than jewellery of the most clean-cut clarity. And, as always, the jewellery industry has responded in due course. Now, more and more brands – including luxury jewellery empire Tiffany & Co – are making life-changing alterations to their business methods and models, and the ways that they go about sourcing, cutting, and polishing their pieces. Quite simply, there is no room for error, and brands are aware of this and running with it, ensuring that their ethical quality outweighs all else.
When consumers control the pace (and they always do) entire industries bend the knee to their every whim and desire. The refusal to do so nearly always signals the beginning of the end of the industry in question. The jewellery industry’s ability to bounce along with the way that the world and its consumers are gravitating is one of its most inherent advantages. The most obvious benefit of this is that consumers are putting all their weight behind the jewellery designers and brands that uphold the same values as they do. This very practice is how empires are forged, how battles are won. And the jewellery industry is feeling the weight of its decisions on a global scale, in ways that have fundamentally changed the entire process, right down to the very foundations that keep it steady in changing times. Consumers love it, the industry reaps the rewards from it, and the world becomes a better place because of it. And after all, is there anything in all the world that is better than that?
The jewellery industry is a master in adaptation. Driven solely to respond to, and even to predict, consumer trends and value evolutions, the jewellery industry has remained steadfast and held its position of power. This has proven to be true even in times where the evolutions of the marketplace have sunk or severely battered other industries. Jewellery itself is a timeless treasure, and it looks like the industry that brings it to us is as well. Taking the values of the consumer and applying them readily and seemingly without too much turbulence, is a talent, a modern marvel. And yet, time and again, this is one of few sectors in the world that can seamlessly accomplish exactly this, time and again. Jewellery is a pillar in style, and it is here to stay. Definitively, and wholly, and without exception.