The rise in the number of female entrepreneurs has lead to a new revolution in the jewelry sector. The women reaching their adulthood in the twenty- first century are more free-spirited. They believe buying jewelry for themselves is a strong source of personal empowerment. Millennials are a step ahead of their old-fashioned moms. These girls don’t feel shy to ask their groom-to-be for designing for the engagement and wedding day ring on their own. The survey conducted by the MVI Marketing( a marketing company which focus on the luxurious brands) in 2018 found 51% of millennial women self-purchased jewelry.
According to the De Beers Group Diamond Insight Report 2017 the share of sales from female self-purchasing has reached a record-breaking level.
Here are the major factors for the emergence of this new trend –
Creating Memories – There has been an expansion in the socio-economic spectrum of our society. The gemstone jewelry that marks a milestones in a person’s life is emotionally valuable. Previously, such days only came after a women married. Only after entering thirties they had the money to invest in fine jewelry. In the present scenario jewelry purchases aren’t limited to anniversaries or childbirth. Young women and girls have a modern approach and strongly believe in self-motivation.
Girls have a full-control over their life & can take all financial decisions without the concern of parents. The working women treat themselves with jewelry when they achieve professional or personal growth. The achievement can range from being hired at by dream their company, increment at work, and sometimes even getting over a prolonged addiction.
Professional Success – The sense of greater individuality and holding better jobs has made is possible for women to afford jewelry. Lyst, the world’s largest fashion brand found that approximately 78% of the female jewelry is purchases are done by women buyers. Further compared to the males counterparts, the total number of jewelry sold to women increased by 14% from 2016 to 2017. Today the self-purchases made by the women cost one-third of that of men. The most common reason is either increment in salary or other measurable success in professional endeavor. 925 Jewelry is preferred over other precious metal jewelry as it is more pocket friendly.
Expressing femininity – Wearing jewelry for expressing personal style is not a novelty. Girls wear jewelry with symbolic meaning to show the world the emotions they are experiencing. It has become an integral part of their womanhood. Each phase in their life is followed by a jewelry piece.
Becoming Trend Setter – The huge success of influencers has created a pool of local celebrities who have a power to influence the people in their community. The commoners are open to experimenting new jewelry design. To create their own trend more and more women are embracing self-buying.
Stay abreast with fashion trends – Before the advent of internet being aware of the current trends was tricky. The women had to constantly read fashion magazines, columns written by jewelry designer in newspaper and journeys, etc. But, now you just have to scroll through your instagram feed. It just take a few minutes to know the current jewelry trends. What’s hot in trend today, is outdated tomorrow.
To stay relevant to the present era, the jewelry preference of women are shifting. Changing accessories like clothing has become ubiquitous.They own multiple single stone rings that match different outfits they own. Some of the women are addicted to celebrity inspired jewelry while others buy the ones they naturally speaks to them.