Today’s way of life evolves as the world moves toward changes driven by technology. The jewelry industry is not exempted from this transition.
The eyewear and cosmetic firms are now enticing buyers with face recognition software. Likewise, jewelry retailers are moving toward a similar strategy. Today, they are about using virtual reality as the next step to boost client experience.
Virtual try-on is now a trend in the jewelry industry. It enables buyers to put on diamond rings, bracelets, and other items from the comfort of their homes.
Thanks to technology, they have also involved clients in creating their jewelry. With that, this article will discuss how technology has shaped the face of jewelry retail.
Increases Growth
Research shows that the online jewelry market is set to grow by $27.19 billion from 2022-2026. Such growth comes with various offers in the modern jewelry design process. It applies to both retailers and clients.
Clients buying jewelry online now come with more options than ever. As a result, not only can they find the exact item but can also tailor it to what they desire.
Tools like Ring Builder help clients to design lab-created diamond rings. Of course, all designs are in line with their ideas or tastes. But it goes beyond engagement rings.
Today, clients may create almost everything they want from bracelets, diamond rings, neck pieces, and many more. With the current technology, changes in shape, size, and shade of the jewelry can be achieved with simple clicks.
With the help of the ring builder tool, retailers have a picture of what their clients need. It will also help them sell more items while improving the client’s experience. As a result, it will boost buyers’ retention and loyalty.
Creation of Lab Grown Diamond
Lab grown diamond technology has been around for long but made significant progress recently. The technology helps jewelry retailers to produce high-quality diamonds at a cheaper and faster rate. As a result, the demand for these diamonds is increasing worldwide.
Lab grown diamonds are also created like mined diamonds but inside a machine.
There are two ways of creating lab grown diamonds; a High-Pressure High Temperature (HPHT) system and Chemical Vapor Deposition (CVD).
The HPHT (High-Pressure High Temperature) System has a growth condition of 1300°C to 1700°C and 50kbar to 60kbar. With such a temperature gradient, the planted seed in the chamber easily develops diamond crystals. As a result, there is increased production of diamonds. The HPHT method is also used to enhance the color of the lab-created diamonds.
The Chemical Vapor Deposition (CVD) uses chemicals and a high temperature to produce diamonds. A mixture of carbon-rich gasses, like Methane, is what the chamber contains. Then, the high temperature heats the gasses to about 1500°F, turning them into plasma. The plasma lets out carbon pieces that come in contact with the diamond seed, producing a diamond.
These processes reduce diamond production time for jewelry retailers. It also helps them produce diamonds on a large scale. As a result, they can meet the demands of clients.
Easy Production of Complex Designs With 3D Printing
3D printing is one of the gifts that technology has given to jewelry retailers. One of the several perks of this tool is that it reduces production time. It also helps to make easier corrections and allows a high degree of artistry.
For example, clients may give the wrong ring size and return for a change. A 3D printing tool can help you make a quick fix and keep your client happy.
Malleable metals like brass can be used to make jewelry easily through 3D printing. The exact process applies to metals like copper and bronze.
With all the features of a 3D printer, jewelry retailers can sell items at a reasonable price.
Increased Customer Engagement Through Virtual Reality
Virtual reality is becoming the new method for a flawless user experience. It is a combination of a natural world setting and graphics. Many firms have already embraced this technology, but the jewelry industry is the most recent to join the train.
During the pandemic, social distancing was the law of the day. So, experts created this technology for clients who want to try out the jewelry before they buy it. As a result, the virtual screens will act like mirrors in physical stores.
Also, retail staff members can envision shelves before setting up this device. It enables corporate devices to project a 3D planogram on the sales floor. The planogram will act as a guide for the setup process for the retail store.
Production of Jewelry With Electroforming
Another way technology is changing the face of jewelry retail is by electroforming.
Electroforming helps artisans create a light yet solid metal design. For example, turning a tough skin of silver or gold into lighter objects will be easier with this technology. Also, earrings are often made using this method.
Electroforming has two processes; the platinum process and the silver and gold process. The platinum process requires a heated bath and pure platinum. But the silver and gold process requires various alloys. Those alloys are further added into an electrolyte solution.
The use of this method goes beyond helping clients. It also aims to remove barriers to the design and crafting processes. As a result, electroforming is used to make or repair jewelry conveniently.
Creating Attractive Designs With Laser Technology
Many devices have fallen short in security and theft control, but lasers are doing well. They can engrave identifying numbers or other ID markers on various pieces of jewelry. These markers are often engraved straight onto diamonds and other expensive jewels for security.
Lasers have been around for a while, but new updates in technology always give real solutions to jewelry retail. Laser technology can now be used for cutting, engraving, and decorating pieces of jewelry.
This technique makes it easy to weld, cut, and decorate. It has also created a wide range of attractive designs. As a result, you can meet the needs and desires of everyone.
Because of laser technology, jewelry retailers can offer precisely-cut diamonds and other jewels. Laser-engraved ID markers also offer security and assurance for the buyers. To sum it up, laser technology enables jewelry designs to change and advance over time.
Bottom Line
Jewelry retailers and buyers have much to gain from the latest tech advances. Clients may assess the finished product from options online. Aside from giving them options, it will also suggest changes to their design. As a result, it will benefit both sellers and buyers.
With the rise of technology, there are now chances for limitless change. Jewelry retailers can also enjoy cheaper production and faster dispatch of their products. More retailers will need these techs to remain solid and compete with top firms.
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