Fashion jewelry is steadily penetrating the luxury industry, and here’s why you should consider it as an opportunity in your luxury jewelry business.
The gems and jewelry industry is at an exciting phase of changing market trends. There are major leaps happening with regards to technological innovations, consumers are becoming more fashion-conscious and there’s a steady diversity rising in terms of spending power amongst the youth. These are segments of an ever-growing market that pose great opportunities for jewelry businesses, and it would be wise to pay heed to their demands.
One such demand that is steadily growing is the need for fashionable, economic and unique jewelry, and fashion jewelry seems to be satisfying this hunger in the urban consumer base. But what is fashion jewelry exactly, and how is it different from fine jewelry? Let’s take a look.
When it comes to understanding the difference between fashion jewelry and fine jewelry, one needs to simply know the materials with which the jewelry has been made with. It’s important for the checker to know how to study the quality of the materials and the gemstones used in the jewelry piece including the use of metal, in order to determine whether it belongs in the ‘fashion jewelry’ or ‘fine jewelry’ category. While this is the primary way to identify jewelry, there are many other definitions and factors one should know to understand the two categories better. We’ve listed them below:
Also known as costume jewelry, this kind of jewelry is usually made of base metals and simulated stones. Materials like copper, brass or aluminum are used in the pieces, making them susceptible to bending and tarnishing easily. You can also find jewelry pieces made of base metal alloys, plated precious metals like gold, silver etc. These are also considered as fashion jewelry. The stones usually used in these pieces are plastic, cubic zirconia and Swarovski crystals.
“Semi-fine” fashion jewelry takes it up a notch, with its jewelry pieces being made with gold-vermeil or being gold-filled. It uses real gemstones like morganite and opals, as well as enhanced stones that undergo heat or chemical treatments in a lab to look more flawless, dazzling, colorful etc. Not only do these methods maintain the affordability of fashion jewelry, but also raises the game of design and innovation within fashion jewelry.
Due to the perishable nature of the materials used, fashion jewelry is prone to cracking and tarnishing, thus having a limited shelf life. They are also almost impossible to fix as each material used will be able to withstand a different level of heat from the other, which leads to blackening in pieces that have silver or gold plating. Luckily, the economic nature of fashion jewelry makes it easy for it to be replaced entirely.
Unlike fashion jewelry, this kind of jewelry uses materials like solid gold, sterling silver, platinum, and other precious materials to create its jewelry pieces. It also makes use of genuine precious gemstones like rubies, sapphires, natural diamonds etc.
Since it uses genuine materials like solid precious metals and precious gemstones, fine jewelry is much less susceptible to tarnish and cracks, making it more durable when stored properly and with care. It can also be fixed, which is a sigh of relief for buyers as fine jewelry doesn’t come cheap. And that just may be what sets it apart. It might have an elevated price, but what makes it so irresistible even today is its value and longevity, making them a worthy investment.
If you own a luxury business or brand and you’re looking to broaden your audience, then branded fashion jewelry is the perfect opportunity for you.
It secures longevity and taps into a younger audience that is design-hungry. Jewelry is simply not just an investment, but also a style of self-expression for this audience. There’s a lot of creative play that can happen with fashion jewelry, which unlocks various innovative routes for designers and also establishes your brand as being current and unique.
Costume jewelry also provides a full-look that is currently in trend in this Instagram era, while the economic-level of pricing becomes a gateway into the typical high-end label. By providing products that are in trend and competitively priced, it allows your brand to have a much larger reach, while consistently maintaining your brand image and values, and even magnifying its view in the market as a trend-setter. Combine online shopping and convenient delivery to the mix and you’ve got yourself a jackpot waiting to be grabbed.
A combination of fashion jewelry and fine jewelry in your luxury business lets you reap the benefits of the two. This best-of-both-worlds scenario is a key opportunity to look into as a luxury business!