Navigating the Future: Key Jewellery Industry Trends from 2017 Shaping Tomorrow’s Success
As the party poppers signal the dawn of a new year, it’s a pivotal moment to pause and reflect on the most impactful trends and compelling stories that defined the jewellery industry in 2017. These aren’t just historical footnotes; they are fundamental shifts that continue to sculpt the landscape of how consumers interact with, purchase, and perceive fine jewellery. Understanding these foundational changes is crucial for businesses aiming to thrive in an ever-evolving market, preparing for the challenges and opportunities that lie ahead.
The year 2017 served as a significant crucible, forging new directions in retail strategies, ethical considerations, and consumer engagement. From a renewed appreciation for intrinsic value to the burgeoning power of experiential shopping, the insights gained from this period provide a clear roadmap for jewellers navigating the complexities of modern commerce. Let’s delve into the ten most important trends that emerged, examining their origins, immediate effects, and lasting implications for the industry.
1. Retailers Re-Embrace Gold: A Shift Towards Intrinsic Value
The landscape of jewellery retail saw a notable recalibration in 2017, as the once-dominant “branded boutique boom” began to show signs of saturation. Many retailers, faced with evolving consumer preferences and the relentless pursuit of authenticity, initiated a strategic return to traditional jewellery categories that historically formed the bedrock of their businesses. This wasn’t merely a nostalgic glance backward but a shrewd re-evaluation of what truly resonates with customers and consistently translates into robust in-store sales.
While branded goods continued to hold appeal for some segments, a growing number of independent jewellers pivoted away from popular, often lower-margin silver lines. Instead, they consciously allocated more display space and marketing efforts to higher-value items such such as engagement rings, wedding bands, and exquisite gemstone-adorned gold pieces. This strategic shift underscored a renewed consumer demand for intrinsic value, enduring quality, and timeless design. Liverpool-based Wongs Jewellers made a bold statement by liquidating all its branded stock, signaling a clear commitment to this traditional luxury segment. Similarly, W.E. Clark & Son, having made a similar move from silver to gold earlier, reaped significant rewards in 2017, earning national and industry accolades for its successful luxury transformation. Looking ahead, this trend suggests a sustained focus by both national chains and independent boutiques on expanding their gold assortments and selectively curating dedicated fashion brands that align with their premium positioning.
2. The Life-Changing Power of Honest Jewellery Appraisal
The year 2017 delivered a truly unforgettable narrative that powerfully underscored the profound impact and ethical responsibility of jewellers. The story of a 26-carat diamond ring, initially acquired at a car-boot sale for a mere £10, captivated the world when it sold for a staggering £656,750 at Sotheby’s in London. The previous owner had mistakenly believed the sizable stone to be costume jewellery, a common misconception given its age and informal purchase. For three decades, what was thought to be a cubic zirconia turned out to be a magnificent 26.27-carat, cushion-shaped diamond.
The true value of this extraordinary gem was brought to light through the honest and expert service of L Guess Watchmaker & Jewellers. When the independent jeweller meticulously examined the ring and revealed its life-altering worth to the astonished owners, their reaction was one of pure disbelief and overwhelming emotion. This remarkable event serves as a powerful reminder of the indispensable role jewellers play, not just as vendors, but as trusted guardians of expertise and integrity. It highlights that with great knowledge and power comes immense responsibility, fostering invaluable client loyalty that stems from transparent, expert guidance. This incident powerfully reinforced that genuine, unbiased appraisal can indeed change lives, cementing the jeweller’s role as a trusted advisor.
3. The Rise of ‘Bricks and Clicks’: Blending Online and Offline Retail
The year 2017 marked a significant acceleration in the “bricks and clicks” phenomenon, as an increasing number of online-only retailers recognized the undeniable value of a physical presence. This wasn’t a retreat from digital commerce but rather a strategic expansion into physical stores, showrooms, or pop-up concepts. The rationale is clear: when it comes to high-value, emotionally significant purchases like jewellery, a substantial majority of consumers still desire to see, touch, and feel the product before committing to a purchase. The tactile experience, the opportunity for expert consultation, and the reassurance of a physical store remain paramount.
Research from global real estate advisor Colliers International validated this trend, indicating that online sales growth was projected to slow in the coming years, prompting pure-play e-tailers to establish a brick-and-mortar footprint. However, for these primarily online businesses, the core objective of a physical space often transcends immediate in-store sales generation. Instead, it focuses on reinforcing consumer loyalty, building brand confidence, and providing an immersive brand experience that complements their digital storefront. Examples like luxury designer e-tailer Banneya London hosting its inaugural pop-up, and numerous designer-makers opening their first concept stores, showcased this synergistic approach. This omnichannel strategy recognizes that a successful modern jewellery business must offer seamless integration across all touchpoints, catering to diverse customer journeys and preferences.
4. Earrings Take Center Stage: A Dominant Jewellery Fashion Trend
In 2017, earrings unequivocally claimed their position as the undisputed champions of the jewellery world, dominating search queries and sales alike. A comprehensive study by the online fashion search platform Lyst, detailed in its ‘The Year in Fashion Report’, revealed that across all jewellery categories, earrings were “the order of the day.” This surge in popularity reflected a broader shift in fashion, with earrings becoming a key accessory for self-expression and statement-making.
Tassel earrings, for instance, exploded in popularity starting in April and maintained their trend status throughout the year, captivating consumers across various price points. Simultaneously, searches for classic pearl earrings witnessed a significant upswing, indicating a blend of daring contemporary styles and a revival of timeless elegance. The report further highlighted the sheer volume of demand, noting that a pair of gold hoops was purchased every three minutes in 2017, underscoring their universal appeal. High-fashion pieces also made their mark, with graphic design earrings from influential designers like J.W. Anderson and Anissa Kermiche consistently ranking among the most sought-after. Lyst’s extensive data, tracking over 100 million searches from 80 million shoppers across five million fashion products and 12,000 online stores, provided an authoritative glimpse into consumer desires. The previews for SS18 further cemented this trend, predicting that ear pieces would continue to be big, bold, and adventurous, encouraging consumers to embrace more daring shapes, vibrant colors, and innovative designs.
5. Women Breaking Barriers: Towards Greater Equality in the Jewellery Industry
Compared to a decade prior, the role and representation of women within the jewellery industry made significant strides in 2017, yet the journey towards full equality remained a clear objective. The year brought into sharp focus the persistent challenges women encounter, particularly the disproportionate number of men in senior leadership roles and the prevalent feeling of being outnumbered at industry events. Recognizing these disparities, concerted efforts were made to address and overcome these obstacles.
The Jewelry Magazine hosted an exclusive roundtable, gathering five pioneering female leaders from the UK jewellery industry. This vital forum aimed not only to highlight the specific challenges women still face in career progression but also to provide practical, actionable advice for those aspiring to climb the professional ladder. Concurrently, the UK Women’s Jewellery Network officially launched at International Jewellery London, quickly garnering widespread support from both men and women. Its mission to foster greater equality, enhance networking opportunities, and support its female members resonated deeply within the trade. Moreover, 2017 celebrated significant milestones for women breaking through traditional glass ceilings. Signet, one of the world’s largest diamond jewellery retailers, appointed its first female chief executive officer, marking a momentous step. Similarly, the prestigious Goldsmiths’ Company, a venerable institution with over 700 years of history, announced Judith Cobham-Lowe as its first female prime warden, signaling a powerful shift towards more inclusive leadership at the highest echelons of the industry. These developments collectively painted a picture of an industry striving for greater diversity, representation, and equitable opportunity for all.
6. The Only Way is Ethics: Driving Transparency and Responsible Sourcing
The imperative for the jewellery industry to commit to ethical and sustainable practices gained unprecedented momentum in 2017, with advocates of this message making more significant waves than ever before. Consumer awareness regarding the provenance of products, environmental impact, and social responsibility continued to grow, putting increased pressure on brands to demonstrate transparency throughout their supply chains. The Fair Luxury initiative emerged as a powerful force in this movement, hosting a highly successful conference in Birmingham. This event brought together influential figures from major jewellery giants, including Forevermark, Pandora, and Gemfields, to engage in critical discussions about responsible sourcing and ethical standards.
Beyond the conference, Fair Luxury also organized several impactful talks at International Jewellery London (IJL) and presented an exclusive exhibit at the Goldsmiths’ Centre, further amplifying its message. A significant milestone occurred with the first installment of Fairtrade gold from Africa arriving in the UK, offering consumers a tangible, ethically verified option. Concurrently, mainstream consumer press began to intensify its scrutiny of the industry’s supply chain. Journalists delved into topics such as Fairtrade gold, the growing role of lab-grown diamonds, and the importance of ethically-sourced gemstones, prompting consumers to ask more pointed questions. The trajectory established in 2017 indicates that these conversations will only deepen, compelling more companies to rigorously audit and verify their supply chains as discerning consumers increasingly demand clear provenance for every product they purchase, making ethical considerations a non-negotiable aspect of modern jewellery retail.
7. Beyond Millennials: Targeting Diverse Consumer Demographics
While the focus on millennials remained a crucial component of marketing strategies in 2017, experts issued a timely warning to jewellers: do not overlook other equally significant and potentially lucrative consumer demographics. The importance of understanding the next generation of consumers is undeniable, yet a singular focus risks alienating other powerful buying segments. This nuanced approach to market segmentation became increasingly vital for sustained business relevance and growth.
At Vicenzaoro, Paola De Luca, creative director of Trendvision Jewellery + Forecasting, highlighted the untapped potential of the ‘Midult’ market—individuals generally aged 30-35. De Luca emphasized that this demographic possesses “a bigger spending power than most generations” and, critically, craves authenticity and an element of romance in their jewellery choices. Midults are often established in their careers, making significant life purchases, and are drawn to pieces with meaning and enduring style. Furthermore, many jewellers reported a significant surge in sales within the ‘mature and comfortable’ market, a segment known for its appreciation of high-quality, investment-grade pieces and classic designs. Leading manufacturer Domino Jewellery exemplified a sophisticated approach to this by revealing its design process considers six distinct consumer profiles: Domestic Millennials, City Millennials, Suburban Steady, Suburban Success, Lavish Lifestyle, and Mature and Comfortable. This multi-faceted strategy underscores the necessity for jewellers to move beyond broad generalizations and instead tailor their product offerings, marketing messages, and retail experiences to resonate deeply with a diverse array of consumer segments, each with unique preferences and purchasing power.
8. Customer Loyalty Triumphs Over Aggressive Discounting
The year 2017 presented jewellers with a perennial challenge: how to effectively compete against the pervasive heavy discounting prevalent on the high street. This question prompted many businesses to carve out distinct niches, prioritizing unique value propositions over price wars. Mappin & Webb, for instance, successfully differentiated itself by creating an exclusive diamond, offering a unique product that stood apart from competitors. For those still grappling with the dilemma of discounting, encouraging research emerged, revealing a powerful shift in consumer priorities: customers increasingly favor shopping at establishments they trust over those merely offering the largest discounts.
This sentiment was strongly echoed by Black Friday data from 2017, which indicated that online consumers were willing to spend more on a greater number of items, often without the insistence on steep discounts to complete their transactions. This suggested a growing preference for perceived value, brand reputation, and a positive shopping experience over price alone. Furthermore, throughout 2017, retailers showed a tendency to slash prices on fewer products, leading experts to predict that the pervasive discounting trend could soon begin to wane. If this forecast holds true, the primary challenge for jewellers in 2018 and beyond will be to consistently cultivate and reinforce strong consumer loyalty, building relationships based on trust, quality, and exceptional service rather than relying on transient price reductions.
9. The Royal Romance Effect: Sparking Jewellery Sales and Trends
In a year often marked by challenges, the nation found a unifying cause for celebration with the joyous announcement of Prince Harry’s engagement to Meghan Markle. As expected, public fascination immediately turned to one key detail: the engagement ring. The moment the sparkling details were unveiled, websites experienced a dramatic surge in traffic, and social media platforms buzzed with shares and likes, demonstrating the immense power of royal influence on public interest.
For the jewellery industry, this royal romance spelled unequivocally good news. Much like the “Kate Middleton effect” before her, experts swiftly predicted that Meghan Markle would generate millions for the British economy and become a significant arbiter of fashion trends and consumer sales in the foreseeable future. The evidence was swift and compelling: the coat and earrings she wore during her first official public appearance sold out almost immediately. Similarly, when she was spotted wearing rings from British brand Missoma earlier in the year, the company experienced a significant spike in sales within hours. One undeniable implication for the industry was a projected increase in demand for trilogy engagement rings, a style popularized by her iconic ring. The royal engagement powerfully demonstrated how celebrity endorsements, particularly from royalty, can instantly galvanize consumer demand, shape emerging trends, and provide a substantial boost to the jewellery market.
10. ‘Retailtainment’: Crafting Immersive Customer Experiences
The past decade witnessed a dramatic transformation in shopping habits, creating an unprecedented shift in the retail climate. With convenience increasingly at the forefront of shoppers’ minds, traditional brick-and-mortar stores found themselves under immense pressure to evolve beyond mere transactional spaces and elevate the overall customer experience. To truly stand out in a crowded marketplace, retailers began embracing “experiential retail,” a philosophy that moves beyond conventional shopping to create memorable, out-of-the-ordinary engagements.
‘Retailtainment’ emerged as the defining buzzword of this movement, emphasizing the fusion of retail with entertainment to captivate and delight consumers. While there is no universal “one-size-fits-all” approach to retailtainment, its essence lies far beyond merely hosting a cheese and wine evening. Instead, it’s about meticulously crafting “Instagrammable moments” and forging lasting memories that are as valuable and desirable as the products themselves. This could encompass interactive workshops, personalized styling sessions, immersive brand storytelling, or unique themed events that transform a routine shopping trip into a destination experience. The goal is to foster an emotional connection with the brand, providing a compelling reason for consumers to leave the comfort of online shopping and engage with a physical store, ultimately reinforcing brand loyalty and driving sales through unforgettable experiences.