How online technology has disrupted the retail jewelry industry?

May 26, 2021 BY :Diamonds on call

online-technology-disrupted-retail-jewelry-industry

From nomadic times, humankind has always leaned towards the options that have made lives a little bit easier. Starting from wheels to the evolution of technology, if we closely look at our lives, we live in the web of technology, and who would deny when the web is so comforting. Advancements like Cloud solutions, mining, the creation of e-commerce platforms, and others have helped enhance businesses to unimaginable levels.

 

The jewelry industry also couldn't remain untouched by the developments of technology. Features such as computer-aided design (CAD), 3D printing, and augmented reality have aided the jewelry business to improve in ten folds. Apparently, the benefits of technology have lured the globe. To succeed in present times, the only requirement is technological upgradation. The jewelry and gem industry is also encountering the same phase. Here are the few latest technologies majorly trending within the aforesaid industry.

 

 

Why does your jewelry business need technological integration?

 

The effects of integrating modern technology in jewelry production are unmatched and magnificent. To maintain your brand reputation and remain competitive in the market it is important to blend your business with the current technological trends. As new entrepreneurs enter the market, innovations with technology might act as a saving tool for you. Even the online scope of buying and selling diamonds & jewelry is constantly rising.

 

Companies that have integrated technology have seen substantial growth of 20-30% in the market. According to a report provided by Grand View Research, the jewelry market growth has been compounded at 8.1% annually.

 

How do jewelers use technology?

 

There are several technological tools available for jewellers in the market. But before integrating technology with your business, make sure you are well aware of how the current technology works and what are its pros and cons. The first step should be choosing a tool that requires less investment but can provide maximum benefits.

 

Launching a website:

 

launching website

 

By launching a website of your brand, you provide access to your digital store and reach a large audience. The way you design your website will speak volumes about your mission and vision. You can add pictures, videos of your products, customer feedback to your website to make it more engaging. Launching a website doesn't cost much, and it can outreach your brand globally. Proper planning and execution with the help of professional services can help you to get the desired results. 

 

Diamond Feed - API & Plugin:

 

Diamond Feed Integration

 

API or Application Programming Interface is a type of software that connects two or more applications. Plugins are extensions that provide the options of customizing currently used applications and enhance their features. These allow the integration of live inventory whenever required. This is like giving a live display of your store and products on the website virtually. You can showcase your or other diamond and gemstone products using live API or Plugin integration. Holding live sessions makes the audience feel more connected, and the possibility of them turning into potential customers also increases. Thus, live API helps you to sell more and earn more, create store traffic and loyalty. Also, API is responsible for maintaining smooth and continuous communication between various applications and ensures that the employees get maximum benefits from cloud-based apps and increase productivity. 

 

You can also read: Covid-19 Impact on the Gems & Jewelry Industry

 

3D Printing and Quick Manufacturing:

 

3d printed jewelry making

 

This technology has been recently introduced in the jewelry industry. 3D printing helps to create a 3D model of jewelry, be it simple or complex, and therefore more jewelers are trying to integrate 3D printing in designing. The integration of 3D printing technology has accelerated the development of wax models and helped overcome the complex manual procedures involved. Less manufacturing time, low product cost, quick corrections, complex detailing are some of the benefits of using 3D printing. With the use of this technology, even customers can get involved in designing and creating their jewelry. It is a quick manufacturing technology and assists in the easy customization of the 3D model, thus reaching the market at a fast pace with lower expenses.  

 

Use of Laser:

 

Laser Technology in the Jewelry Industry

 

Technology is transforming how a rough diamond is manufactured and is setting foot in the manufacturing of jewelry. Laser is one of the fastest-growing technologies in jewelry making, serving as a substitute for traditional methods. Laser technology is capable of welding, engraving, and metal cutting with precision. Also, it saves time as compared to conventional methods. Many brands use the laser technique to engrave their brand's name on their product, which helps in easy recognition.

 

HD image & 360 Videos:

 

 

With the constant upgrades in technology and technological devices, more unique features are available for exploration. Earlier, the customers could view the image of a diamond and jewellery from a limited angle. But with the use of HD images and 360 videos, a 360 view in HD quality can be created and made available for the customers. On digital platforms, it is believed that pictures talk to the customers. So it is important to plan the content before sharing it properly. Boost in sales, increased customer engagement, a stronghold in the competitive market, increased ranking, and growth benefit from using HD images and 360 videos. Traditionally, trusting online purchases seemed like a difficult task. But, now, with HD images and 360 videos of diamonds and jewellery, the same has become a visual treat.

 

Options for customizing:

Using technology helps in easy customization of the products. The choice of every customer is unique, and satisfying every customer is not easy. Customizing a jewelry piece as per the customer's demand has become much easier with technology. 

 

Benefits of advanced technology

 

No doubt, advancing technology is serving the world with many options to explore and integrate wherever possible. Be it shopping, communicating, entertainment, weather forecast, etc. Everything has been made a lot easier and approachable with the use of technology. With the speed at which technology is changing, businesses also need to be up to date to keep performing in the market. 

 

Some of the benefits of using advanced technology are: -

 

Global reach using online marketing:

Jewelers can now target a large audience by advertising their brand online. By implementing proper digital marketing strategies, businesses can promote their brand globally to social media platforms. 

 

Nearly more than half of the world's population is using social media, and reaching the target audience with the help of social media has brought positive results. By doing online data analysis, the brands offer consumers jewelry designs based on their tastes. It is also easy to advertise various promotional offers; discounts are drafted for the customers and significantly boost sales. Reaching out to a large audience increases the customer base hence, increasing brand awareness & revenue.

 

Innovations:

Technology has integrated with every sector, be it agriculture, banking, medicine, or jewelry. Every industry is trying to incorporate technology into its operations to increase productivity and efficiency. The jewelry industry uses technology over traditional methods for cutting, engraving, designing, etc., to reduce the making time and increase efficiency. Technology like 3D printing has made complex jewelry designing easy and leads to innovating new designs as customizing is no longer complex. Lab-grown diamonds are one of the latest and exciting innovations in the jewelry industry. Technology is helping jewelers to innovate designs according to different age groups and market trends. 

 

Innovation is a feature that entails advancement in business. Additionally, the same attract new clientele and gains surrounding them. Needless to say, with technology comes innovation. 

 

Cost-efficient & Time Saver:

The main aim of technology is to provide people with economic and easily available services. The increase in competition has provided people with a range of brands to choose from, hence providing economical products. Even the use of technology has reduced the time consumption, employment of labour, and resources, thus making the manufacturing process cost-efficient.

 

Improvement in workplace culture:

The developing technology is helping to improve the workplace culture. Investment in technology leads to an increase in productivity, employee motivation, well-being, and business growth. Availability of the best resources, remote working, and constant monitoring has increased employee productivity. Also, it reduces resource wastage and saves time.  

 

With all these features comes Diamond on Call. It is a one-stop solution for all your technology needs for Diamonds Buying and Selling. The jewellers now have one place where their online sales find a new definition. Diamonds On Call is just not a Diamond listing platform. It provides quality check, delivery & API integrations so that jewellers can focus on their online growth. Understanding the requirements of the current time, the B2B platform ensures that everything is intact with the vendors. Jewelers across the globe have lauded the working mechanism and attentive services of the platform.

 

Read more: A Complete Guide to Diamond Inclusions


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Diamonds on call Team

Diamonds on call is building an online platform, where diamond (certified or parcel) buying experience becomes smooth and easy for jewelers around the world. Our team works 24x7 to make sure the customer buying experience is fantastic.


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