Market Trends of Brazil Jewelry Industry
Inclination Toward Gemstone Jewelry
- Gemstones are used to make various jewelry pieces, including fine jewelry. Brazilian jewelry designers are known for combining colored jewels to create a rainbow of attractive colors in a single piece. This look is trendy among consumers in the domestic market and is considered one of the leading Brazilian style themes recognized internationally.
- Brazilian jewels are made manually with meticulous design and precious stones, making them more expensive. Globally, Many gemstones are found in the country, including aquamarine, amethyst, citrine, diamond, emerald, quartz, ruby, sapphire, and topaz. These gemstones and minerals are used and appreciated by artisans throughout the world.
- Additionally, novel designs embedded with various precious gemstones, diamonds, and other precious stones in golden jewelry are gaining importance in the market. The country is importing various jewelry articles that elevate the designs due to the demand. Manufacturers are focusing on incorporating innovative usage of these gemstones in assorted costume jewelry that customers in the country prefer. These factors drive the market in a positive direction during the study period.
Understand The Key Trends Shaping This Market
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Increase in Online Retail Sales
- With increased purchasing power and high internet penetration among consumers, the popularity of online retail channels is increasing. This factor will likely lead to a growth in jewelry sales through online channels. Easy accessibility of websites and secure payment methods have given online retail channels an edge. Market players are capitalizing on the opportunity in this market by innovating, from personalization to curation to home trial options.
- For instance, Tiffany & Co. currently operates e-commerce websites in 13 countries worldwide. It is focusing on investments to enhance its online channels. It also intends to expand its e-commerce sites to additional countries. Moreover, customers trust brand-monitored websites over third-party websites as they tend to believe in brands for their authenticity and exclusive collection.
- Owing to the demand, manufacturers offer exclusive and limited collections of jewelry products on their websites to encourage customers to buy jewelry without visiting physical stores.
