How the Jewelry Industry has Evolved: From "My Jeweler" to Branded Jewelry, and Online Marketplaces — What About the Jewelry Design?

Before, roughly 70 years ago, you typically had to wait a few days or weeks after deciding on a jewelry design that the retailer himself sketched for you in order to pick up the jewelry. Back then, jewelers were addressed as "my jeweler."

With increasing globalization over time, it became simpler to move jewelry from one country to another. Retailers gradually started stocking ready-made jewelry in their stores. Thus, as soon as you walked in, you were greeted with hundreds of alternatives.

"My jeweler" as a phrase was no longer in use. Jewelry lovers started shopping at stores that fascinated them through tempting jewelry commercials, gorgeous models and stories, and windows full of magnificent jewels.

Then the rise of this industry turned phenomenal over a period of about forty years. Because of simple internationalization, businesses started establishing their manufacturing facilities in different regions. Miners too often reached stores in foreign countries. At this time, gems traders, jewelry manufacturers, and distributors seized worldwide possibilities.

During the same time, branded jewelry began to gain popularity. Some brands bought gemstones directly from mines and crafted their own jewelry. Others gave the contract to a manufacturer in another country.

From the beginning, jewelry design was a foundation for selling jewelry. And, on top of that, the price was a factor. However, until the middle of the era of expansion, profit remained a seller's choice, or should I say, growing — the cost was determined by the material used and the jeweler used to mark the profit.

The competition became more intense with time. Every month on the jewelry street, I noticed new stores: shops of all sizes, indoor market booths, jewelry boutiques, home-based companies, etc.

As this business flourished, banks and insurance agencies both developed a strong interest in and supported international trade vigorously, as well as local retailers. Also, big and long-term credit from suppliers and facilities to return the parcel of gems or lots of jewelry if not sold were the new normal in business-to-business.

Production increased dramatically, whether it was mining or jewelry-making. I'm not sure if it was due to consumer demand or hoarding by retailers and producers to expand. In cities like Bangkok, Guanzon, Kolkata, and Mumbai, a separate special economic zone was formed to manufacture and export jewelry.

Then the digital age emerged, causing standardization to function on a greater scale. Online marketplaces for business-to-business transactions and retail e-commerce experienced significant growth. However, some were successful, while others weren't.

However, it appears that the online world was never a good fit for gems and jewelry. While certain items, such as rings, pendants, and studs, were bought online, most dealings were private and in person. Therefore, a few internet companies opened their physical stores.

The design never had the privilege to earn a premium over the raw material throughout this growth cycle, from "My Jeweler" to seductive jewelry. It continues to be a necessity, but as a tip. Maybe it's because jewelry designs can't really benefit from copyright protection.

I'm grateful.?Please share your opinions in the comments.