Jewelry becomes ornamentalized. What does it mean? That is, jewelry still maintains some key attributes but necessarily of high quality. Cultivated diamonds or other gemstones are used instead, integrating the style and function of jewelry, improve cost performance through creative design, open up the market for young consumers, and make the most fashionable jewelry.
"Jewelry-oriented" is a new opportunity for young people to compete with traditional jewelers. Young people understand young people best. If young people start a business in the direction of "jewelry-oriented", it is like making products for themselves, and the chance of success in entrepreneurship It will be greatly increased. On the contrary, it is like a traditional jeweler. It is difficult to make achievements in this field in terms of team characteristics and brand recognition. Many second-generation treasurers have always thought that their parents' jewelry business was too traditional, and they were unwilling to take over.
For fashion jewelry, the market size has increased from 327.2 billion yuan in 2011 to 602.8 billion yuan in 2019. In 2020, due to the impact of the epidemic, the channel scale will decline, but the impact on demand will be small, and the post-epidemic era may show a V-shaped rebound. Compared with gold diamonds, the growth rate of fashion jewelry is higher than the average level, focusing on design and light material, low price, high frequency, strong sense of design and personalization and other attributes are more in line with the consumption needs of young people to "please themselves". As the marriage rate of young people declines, the wedding attributes of jewelry will be replaced by fashion attributes in the future, and fashion jewelry will gain more growth opportunities through the transmission of brand concepts and aesthetics.
As a world-renowned luxury fashion jewelry brand with 40 years of experience, it has demonstrated its resilience during the 20-year epidemic, with revenue of 1.64 billion yuan. The average product price is about 1,000 yuan, and old customers contribute 32% of DTC revenue. The loyalty and repurchase rate are very high, and there are already a large number of highly sticky users.
However, fashion jewelry also has its own problems. The life cycle fluctuates greatly, and the high iteration of multiple categories continues to perform. Fashion jewelry raw materials lack scarcity, so different from high-end jewelry that relies on long-term precipitation of brands, it is bound to expand the scale through a low-cost and high-frequency business model, and seize the market through explosive force.
No comments:
Post a Comment