Why Online Jewellery Market Share is Growing Rapidly
Jewelry has always been a topic close to our hearts. It's Men or women Jewelry market attracts both of them from eras. With Digitization Jewelry is the market is available online. Though there is a slowdown in global markets and consistently gold prices are increasing still gold market has seen significant growth worldwide. The global jewellery market size was valued at USD 278.5 billion. While taking about Global jewellery Market we can not ignore the online jewellery market.
The "Global Online Jewelry Market" is expected to grow at a CAGR of 15.69% during the period 2018-2022. And it is a promising number. Peeping in the past for share of online fashion and fine Jewelry market numbers are exploding in 2013 it was not even USD 2 million, and by 2014 it was worth USD 125 million. McKinsey & Company () expects the luxury category's share of online sales to double, from 6% to 12% by 2020, and for 18% of luxury, sales to be made online by 2025. According to their research by 2025 online jewellery market could go up to USD 70 billion. According to recent reports "E-commerce is world third largest luxury market after China and United states". This all whooping numbers motivated big jewellery brands and new commerce to enter in the market.
Let's find out reasons about why online Jewelry market share is tipping nowadays.
1. Technological Edge
With Digitization, internet, smartphones and personal computers are available for to a wide range of people at very low cost and ultimately it opens up opportunities for online Jewellery Market. With this updated technology, retailers can operate from any corner of the world. It's easy to reach maximum people online, maintain their database and technology also helps to deliver the product anywhere within less time.
jewellery retail stores have limitation in storing physical designs of Jewelry due to limited space and high investment value; however, in online jewellery store there are no limitations for showcasing different designs, and it involves only visualization cost. On the online store, the customer has eased in browsing various Jewelr"""
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This content is written on behalf of Vikkrant Sindhe CEO of Atellier Studio. Check our website- Atellier.in
I am a 3D artist having 5 years of experience in 3D rendering, and animation. We are a team of Professionals video Creator, 3D Artists and Expert in Photoshop, we enhance our client products with our ..