It’s never been a better time to launch or grow your own online jewelry business. According to a December 2020 report in the New York Times, fine jewelry sales were up during the pandemic as people wanted to treat themselves.

According to the latest predictions, the global jewelry market will expand from its 2019 forecast of $229.3B to a whopping $291.7B by 2025. In addition, non-luxury jewelry is expected to account for 79% of the jewelry market in the United States by 2021.

These economic projections show that the global market is large and welcoming of new entrants and established players using comp cards. The variety of jewelry available is part of its appeal, and online marketplaces like Etsy and eBay help independent jewelers build a clientele.

Online jewelry sales provide a global platform from which to promote your business. There is room in this thriving industry for all businesses, from Tiffany and Cartier to the mom-and-pop costume jewelry shop, to thrive.

The flip side of this expansion possibility is an intense rivalry. Getting your jewelry brand out there can be difficult because people have short attention spans. As a result, consumers are faced with what may as well be an infinite number of choices when making purchases. The State of Jewelry Report found that the fashionable jewelry market is expected to grow at a CAGR of 7% from 2022 to 2028.

Fashion Jewelry

Rings, bracelets, necklaces, and even some costume accessories fall in the category of “fashion jewelry,” which is prone to fads and resurgences. So if you want to make a fashion statement on a budget, consider purchasing one of these items.

Reading popular and fashion magazines is a great way to keep up with the latest trends in the fashion jewelry industry.

Trends on social media platforms like TikTok and Instagram tend to be set by “influencers.” Lower-quality materials are used to create fashion jewelry. A fixed deposit plan can be a good way to save money for a future purchase of fashionable jewelry. This includes metals (like silver instead of platinum) and stones (i.e., using cubic zirconia instead of more expensive gemstones like diamonds). Designers frequently look to more expensive products to create a new look for inspiration.

However, one must remember that there is great variety within the fashion jewelry sector. Pieces can range in price from five dollars to a hundred dollars.

Body Jewelry

Jewelers can make a name for themselves in the market for jewelry used in body piercings, such as nose rings, belly rings, tong rings, eyebrow rings, and others. Because of differences in piercing sizes and metal allergy reactions, body jewelry is often more individual than bracelets or necklaces.

For some people, the only way to go without pain is to choose a material such as implant-grade titanium or a rare form of precious metal.

Because of their wide range of customers, body jewelers stock various sizes and metals, each with their price tags. As a result, stores that cater to customers’ needs by allowing them to personalize their purchases are becoming increasingly common. As a result, it’s possible to mass-produce unique items.

Plated Jewelry

Often, consumers want to buy something made of precious metals but are put off by the high price tag of high-end jewelry. Plated jewelry, crafted from less expensive metals and finished with a thin layer of precious metal, is one way to break into this industry.

Plated jewelry can be anything from sterling silver covered in 14-karat gold to pure silver. Nickel, a cheaper material, can also be covered in a layer of rare precious metal, such as gold or silver.

It is crucial to keep in close contact with your suppliers if you deal in plated jewelry. To start, check all your products thoroughly for lead, as this is a known carcinogen that could cause problems for your business.

Make it clear to potential buyers that the jewelry is coated and not made of precious metal. Since some customers may have sensitivities to non-precious metals, it is crucial that you, as a business owner, be as open and honest as possible with your customers.

If you’re interested in manufacturing something hardier than plated jewelry, you may want to look into gold-filled jewelry-making supplies like gold-filled beads and findings.

Handmade Items

Here, you’ll find “made-to-order” jewelry that can be tailored to the tastes of each customer.

Customers benefit because they get a product tailored to their specific tastes in terms of material, color, and size. However, handmade jewelry has the disadvantage of taking longer to make than machine-made pieces because of the time and care put into each piece.

Therefore, you’ll typically find handmade jewelry at specialty stores or from private sellers on sites like Etsy. Many businesses that sell custom jewelry started as the sole proprietorship of one person.

The difficulty in expanding a handmade jewelry business isn’t always a drawback, as there is a clientele for whom the one-of-a-kind quality and bespoke service is a significant selling point. Rare items may also be priced higher due to their scarcity.

Vintage Jewelry

Jewelry that has survived centuries and made its way to the present day has a special allure for antique collectors. In addition, many jewelry pieces are timeless and durable, making them ideal for secondhand purchases.

Due to their rarity and distinctiveness, vintage clothing and accessories like vintage jewelry are highly sought after in the modern fashion industry. Many people who collect vintage items do so because they enjoy the thrill of the hunt.

Every piece of vintage clothing, furniture, or accessory may have a different history associated with its previous owner, time, or fashion designer. POS financing can help boost sales in the fashionable jewelry market by making it easier for customers to afford expensive jewelry. Each item’s value can rise thanks to its unique backstory. Antique jewelry can be anything from a quaint handmade item to a pricey heirloom. Some antiques, especially those with a fascinating backstory, could increase in value over time.

Fair Trade Jewelry

As a result of the COVID-19 pandemic, consumers are giving more thought to the impact of their purchases.

Historically, human rights and environmental issues have arisen in the jewelry industry’s supply chains, as in many others. Because of this, companies that engage in fair trade have a better chance of being recognized as ethical industry leaders.

Paying employees more than the going rate, buying materials directly from farmers, recycling whenever possible, and forming partnerships with local communities are all examples of conscious business practices that improve people’s quality of life.

Fairtrade, sustainable, and conscious business practices can be incorporated into the production of any jewelry. As a result, each jewelry manufacturer contributes to developing uniform industry standards.