Why affordable jewelry is so popular in 2022

The epidemic has gradually reversed the trend of clothing that consumers love to love leisure and comfort. The golden accessories consider rustic has suddenly become famous and popular on social platforms. The flow of gold Demi-Fine Jewelry (semi-fine jewelry, also translated as light luxury jewelry) has exploded in the past year, and sales have surged.

According to a jewelry trend report released by online retail fashion platform Lyst during the epidemic period, the search volume of "golden necklace" increased by 17% every week, and "gold" was the keyword of the quarter, with 68% of consumers search for gold accessories like earrings.

The popularity of this trend does attribute to the direction of wearing on the social platforms of celebrities Emily Ratajkowski, Hailey Bieber, and Bella Hadid, especially the thick gold necklace, which has increased by 113% compared with the same period last year. Data from Euromonitor also showed that the jewelry market fell by 18% in the past year, but luxury jewelry such as Missoma and Monica Vinader saw double-digit growth.

What is Demi-fine-jewelry?

Before explaining why this trend has become popular, let us first clarify what affordable luxury jewelry is. Generally speaking,  Affordable jewelry is between Fine Jewelry (high-end jewelry) and Costume Jewelry (artificial jewelry), with high-end texture and fashion elements. Fine jewelry makes of precious materials such as diamonds, gemstones, and real gold and silver, which are expensive and of high quality. In contrast, artificial jewelry makes of cheap metals, alloys, crystals, and other materials that can be mass-produced.

Usually, the affordable jewelry makes of silver, plated14-18K gold, and artificial gemstones. The appearance looks high-end and simple and attracts young consumers aggregated on social platforms at a lower price. This jewelry defines. The source is a jewelry category exclusively launched by luxury e-commerce NET-A-PORTER.

Accurate market positioning, fashion, and not cheap have successfully defeated high-end and artificial jewelry. Its advantageous price has attracted a group of fashion lovers who do not want to spend a lot during the epidemic.

While gold jewelry sales overall fell last year -- from July to September, global gold jewelry sales were down about 29% compared to the same period a year earlier -- according to a report by the World Gold Council, affordable luxury jewelry sales remain strong.

Jane Collins, senior strategist at WGSN, a trend forecasting company, also admitted: "The sales of light luxury jewelry have not been affected by the epidemic, but people have increased their purchases."

Why does the giant gold chain with low gold content continue to become popular

A survey conducted by diamond retailer De Beers many years ago found that 26% of women in China buy jewelry for their pleasure, a figure growing at 12% every year. It means more and more female consumers are opening up to jewelry purchases, no longer seeing it as a token of emotion but as one of the accessories that express their individuality.

Gold accessories and layering features are also more suitable for casual sportswear today, especially for millennials and Gen Z shoppers. They are starting to choose to buy some to work from home or even appear in a Zoom video conference to look brighter and more stylish accessories.

KOLs on social media began to explore niche luxury jewelry. On the social media Xiaohongshu, the number of posts about #goldennecklace has reached 190,000+. According to data from the luxury e-commerce platform Net-a-porter, demand for gold necklaces has increased by 131% since the beginning of March, and the trend of gold necklaces has not subsided since then.

The site also found that whether it's Foundrae, Laura Lombardi, Bottega Veneta, and Celine are starting to offer some lower-priced gold fashion jewelry.

Elizabeth von der Goltz, Global Sourcing Director at Net-a-porter, said, "There's no objection to layering jewelry, necklaces are the perfect way to do that, and we've seen a big trend over the past few months. Anything with a symbolic theme sells well, especially some gold coin accessories that convey peace, wholeness, serenity, and strength, which are especially comforting in this day and age."

Alighieri's Rosh Mahtani has always had a knack for meaningful stacking necklaces, and her necklaces have seen a considerable increase in sales on the brand's website. One of the brand's gold chains features three spherical castings for balance, while the other is made up of textured, tangled links that symbolize the importance of human connection.

Mahtani said: "If you want to look your best in a Zoom meeting, necklaces are the way to go, and they are the ultimate solution when people want to add some freshness to their boring and endless lockdown life. Team it with a comfy sweater or just a white tee."

70% of the Alaton brand's online sales during the pandemic came from the Lumia collection, "where the upper body appears in a video conference, and accessories become a way for people to share their presence." Gold symbolizes our desire to continue to maintain positive emotions.

Tiffany Hsu, fashion buying director at Mytheresa, said the styles cost between €800 and €3,000, ranging from big names like Bottega Veneta to niche brands like Tilly Sveaas.

Who is promoting the realization of the big gold chain

British jewelry brand Missoma is rapidly gaining popularity on global social media. The brand, founded in 2005, relies on its lower prices, minimal styles, and stackable features loved by young fashion consumers to achieve double positions in 2020 number growth. Social media has played a critical role in Missoma's success. With 96% of the brand's business is done through its e-commerce channel, using a direct-to-consumer sales strategy, and working wholesale with only a few major retailers, such as High-end department stores like Harvey Nichols. Selfridges or Nordstrom, where up to 70% of their sales through social media Instagram, have recently surged in popularity on Weibo, showing exponential growth in sales in Asia.

Missoma founder and creative director Marisa Hordern said in an exclusive interview with WWD: "In the past, we have tried to provide larger and more dazzling jewelry styles, but due to the economic environment, jewelry is becoming more delicate, small, and simple in style. It's not a trend-led by a fashion trend; it's a trend-led by the economic environment."

Especially in an economic downturn, people want to buy something to refresh their tired hearts. At this time, it is not a wise choice for ordinary people to spend all their money on high-end jewelry because under the background of uncertainty, No one knows what will happen tomorrow.

Industry insiders also analyzed one of the reasons for the brand's success. It is to abandon the early sales map of retailers, turn to KOL marketing, and further improve the mode of communication with consumers, relying on the rapid feedback of KOL marketing to adjust its product design and style orientation. 

Los Angeles-based independent jeweler Sophie Buhai focuses on mid-20th century minimalist designs in sterling silver, "925 silver is a delicate metal that is more easy-going and less expensive than gold, and it's popular among younger consumers. Second, people want to wear jewelry even if they work from home. Especially in an economic crisis, people are very cautious about wearing big dazzling gems and diamonds to show off. People want to buy some low-key small brands to dress themselves up, which is a plus for people to maintain social interaction."

Pandemic makes jewelry consumers more cautious

The crisis has dealt a double whammy to the jewelry industry. Generally speaking, the recession has led luxury shoppers to open up to savvy and minimalist forms of shopping. Secondly, the absence of formal celebrations has reduced the exposure of fine jewelry, and the jewelry industry has entered an unprecedented period. Era - Depends on the casual, personal style of working from home.

Industry retailers said that buying jewelry is still regarded as a safe way to store value for white-collar women, and it is beginning to approach an unspoken rule in appearance. The jewelry purchased is biased towards daily wear—jewelry driven by emotion and value, less glamorous, jewelry with traceable gold and silver origin.

Paul Schneider, a Jewelry Partner at Twist, said: "People no longer want to walk around the house with big diamonds and flashy clothing. People have a whole new appreciation for the intimacy and naturalness of jewelry, and jewelry is jewelry really in this era. become a personal item."

Christie's and Sotheby's have even stepped up their online sales efforts, attracting a new, younger audience. Caroline Ervin, vice president of jewelry at Christie's, said, "In the past year, we've seen a drop in sales of the more ostentatious, diamond-heavy platinum and white gold pendants we've seen at banquets in favor of Cartier's 'Love' bracelets. Upward trend."

Industry insiders believe that the global jewelry market has shown a strong interest in bohemian-style, affordable jewelry, making the category among luxury and mass brands.