Decoding consumer attitudes in the jewelry sector is the key to success. How do brands manage to seduce the consumer ? What is the thinking process of designers ? How does the market understand the consumer ? What kind of products are wanted ? At the end of the day… what do we want to wear ?
Understanding the consumer
The perspective to approach the business in the future is only by understanding the market. There is a belief in the industry’s approach to develop new products according to the consumer’s interest. The real questions are the following :
How do we define the consumer’s profile ? What will the final behavior be? What are the general trends ? Should we wear pearls or diamonds ? Blue sapphires vs. Pink rhodolites ? Micropavé vs. Prong settings ? Geometrical vs. Supple ?
The industry, the designers, the manufacturers and the technologies are the key to develop new products for the final clients. That way, they want to endorse the jewelry industry as a trendsetter not specifically on jewelry but more on a broader level just to attract and understand the customer and consumer.
La Fiera di Vicenza aims to endorse the Jewelry Industry with a trendsetter attitude more than just the product or collection itself.
Paula De Luca – Creative Director of Trendvision, works with a team looking out for novelties, demands, inputs and innovations on the market all over the world. Coolhunters are working hard to contact exhibitors, see what is new then instantly share on a variety of social medias and communication platforms. Share the information remains the biggest challenge.
According to De Luca, there are two stages in the level of consumer understanding. The 1st is to promote what we see is new. The 2nd stage should give the lens to see accordingly to what is happening among the consumer behavior.
The Jewelry Fair, Vicenza Oro (developed around the world throughout the year – VO Dubai from April 14th to 17th is the next one) aims to support the industry to grow in that direction. « If they become better and bigger we will too ! » claims Paula De Luca, before re-emphasizing the main goal which is, « communicate, share, publish and promote ! »
Think different, think digital
Paula Deluca urges to think out of the box. She does not claim to teach anything but wants you, us, to think in a way where we can inspire. Vicenza Oro is the first jewelry platform trying to push the buttons. « Like an inspirational Yoga Class » claims De Luca, « where we are trying to inhale concepts and exhale them to the world. » Not only we live in a Digital Society but we need to accept and process the concept to avoid being left behind.
Back to our main topic, on a jewelry perspective, we cannot talk about jewelry unless we understand our environnement. For the buyers they cannot get a two finger-ring with a large cuff and a cabochon if they don’t have the ability to understand who is going to buy and wear this stuff. And since the environnement is changing faster than blogs can publish about it.
We are getting there : the importance of the mobile. The biggest marketers are e-commerces and retailers targeting their audience online. Commerce now stands for physical as much as online businesses. You must have an online business and activity : it is the only activity for growth. The best example is Luisa Via Roma, a small boutique in Florence with not a lot of (physical) traffic, yet they make millions every month thanks to their (digital) traffic !
The growth of the industry will not only be with stores expanding their distribution. It will be by spending online : from ebay to matches fashion ; net-a-porter and yukes… those represent the future. And if some will stay far from this concept in terms of success, you must get into it no matter what.
But at the end of the end, it is all a matter of mentality : understanding the lifechanges, or not !
The actual boundaries need to expand to markets and countries. Adapt the local DNA to different consumers : the ones who are traveling, not only physically but on the web ! You must adapt to what is new and do it now. We are jumping in a new world filled with unknown parameters
Steve Jobs used to say, « Stay hungry and stay foolish ».
We cannot be entrepreneurs if we are not passionnate about learning ! We are in a critical world where if you stay lazy mentally and don’t want to adapt to the culture you’re out. It’s not that we are experiencing an economic crisis, we live in a liquid society. Deal with it or you’re dead.
What kind of products are wanted
The spectrum of research has been elarged internationnaly. By supporting the production chain from designers and institutions down to the distribution of the products then translates into an editorial product.
Like a 3-stages implantation, the produts are gradually placed on the market.
The 1st stage occurs in September with the launch of the TRENDBOOK projecting the upcoming trends for the following 18 months in the jewelry, diamond and watch industry.
The 2nd stage happens in January during La Fiera di Vicenza presenting the CONSUMER PROFILE where a wider insight is given on the consumers introduced in the trendbook.
The 3rd and final stage in April presents the PRODUCT DIRECTION through trend diaries constituted around the world upon the different shows and fairs happening throughout the year.
If we go beyond the limit of the paper product ONLINE RESEARCH in a much more aggressive way. Jewelry is part of the fashion package today. Framework established by those product is evolving and the way cool hunters connect and collect images they published online is a strenght.
On a daily basis, there is a way to connect with the rest of the jewelry world, simply visit : www.trendvisionforecasting.com