Technological advancements have affected various sectors, and the jewelry industry has not been left out. Unlike before, technology has made shopping, communication, weather forecasting, agriculture, and many other aspects of human life more manageable. Likewise, technology has impressive and unparalleled effects on jewelry production.
Fashionable designs, such as the current diamond earrings, for increased access and availability, jewelry manufacturers and traditional and online retailers have made significant progress. Here are some ways technology has benefited this sector.
1. Multifunction or portable technology
Modern jewelry lovers like to wear jewelry that offers benefits beyond being an accessory for their outfits. In recent years, jewelry manufacturers around the world have found ways to design products that match customers’ outfits while functioning as important gadgets through technological integrations.
Most manufacturers have embraced the common idea of replacing rubber bands with fitness trackers in their jewelry. A popular company that does this is Ring, which was founded in 2014. Rings smart wristbands Connect with smartphones and other portable devices to track user activity, merge breathing exercises, and provide social media alerts.
2. Computer Aided Design (CAD)
Various industries have embraced the use of computer-aided design software to create technical illustrations and accurate drawings. The software can accurately generate 2D and 3D models. The jewelry industry has recently embraced this technology to build virtual prototypes that can be duplicated during manufacturing.
Using CAD, customers easily collaborate with jewelers to design their diamond rings and other pieces. Customers provide redesign suggestions and watch what their designs will look like in real life before investing. Customers can change metals, gemstones and other additions to compare the look of the final piece.
3. Accelerated growth
According to recent surveys, the jewelry industry is poised to grow by 4% to 10% in the next few years. As more customers embrace online shopping, online platform sales are expected to increase by 15%. These trends are attributed to an increase in the 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 accelerating growth. Modern tools built from new technologies are hugely beneficial to online customers and retailers. For example, Ring has created 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 to the online space has allowed jewelers to effectively target large audiences. Using information from online analytics, brands and retailers can offer jewelry suggestions to customers based on their personalities. Manufacturers and retailers also get instant responses or feedback from customers which is helpful in improving customer experience.
Through digital marketing, brands can notify customers about new products, discounts and offers, and jewelry events in their locality. This improves brand awareness and boosts sales. The growing 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 around the world. Online shopping has replaced retail shopping, especially for fast-paced customers.
5. 3D printing
For various reasons, jewelry enthusiasts have argued that 3D printing is likely the future of fine jewelry pieces. This technology comes in handy in the final stage of production, where significant customization occurs. More and more manufacturers and designers in this industry have used this technology to produce unique designs. Adopt 3D printing in the jewelry making process greatly reduces the cost of production.
6. Light Jewelry
The jewelry industry has also benefited greatly from electroforming. This technology allows manufacturers and designers to create lightweight yet strong jewelry. Electroforming creates thick skins of gold or silver which are used to produce lightweight jewelry, especially earrings. The electroforming of gold and silver is done in a stony electrolyte bath, while platinum requires heated baths.
Lasers have dramatically transformed the diamond industry and are slowly making their way into jewelry production. This burgeoning technology has replaced traditional jewelry making processes, such as metal cutting, engraving and welding. The adoption of laser technology has made it easy for manufacturers to meet the growing demand for custom jewelry designs. Several popular diamond brands use laser technology to engrave ID numbers and brand logos on their products.
Modern technology has significantly changed various elements of the jewelry industry. The integration of technological systems in the production of jewelry has also significantly reduced production time. This has helped manufacturers meet growing consumer demand around the world. Likewise, technology has also made it easy for consumers to buy their favorite pieces.