Who doesn’t love a shiny gem or a dash of gold or silver these days? Well, apparently pretty many people globally. As a result, the global jewelry market is predicted to witness a significant increase by 2025, from $230 billion in 2020 to $292 billion, according to this report from Statista.
On the other hand, however, the Coronavirus pandemic drastically changed the habits of a market in constant growth; 81% of consumers avoided going to the stores due to health concerns. And on top of that, 51% stated their reason for avoiding jewelry stores was because they started using online shopping.
Considering that 51% of women who buy jewelry are Millennials, it’s easy to understand that online sales will be pivoting in this market, at least for the upcoming years.
However, considering that these products often have high prices, the purchase process cannot be as smooth as other markets, such as clothes or make-up.
There is a technology that can help customers and potential buyers have a better online experience while buying jewelry, and it is Augmented Reality.
Thanks to AR technology and Face Tracking features, it’s very simple to allow potential buyers to have a virtual try-on to check if a pair of earrings match their taste or a ring is a perfect fit for their hand.
AR for the jewelry industry
Many jewelry brands, mainly in the engagement ring industry, offer their customers the opportunity to virtually try the rings before deciding whether to buy them or send the link to their future spouses. In addition, of course, these companies have a considerable budget to invest in these technologies. For these reasons, it is relatively easy for them to integrate AR on their website or develop dedicated apps.
But what about smaller brands, even artisanal ateliers, or designers who don’t have a big budget to invest? Thanks to platforms like Aryel, they can now easily create and share compelling AR experiences online, with an eye on the budget.
How? This is easy to explain: thanks to the Face Recognition feature, they only have to create an AR campaign that features their jewelry designs, such as earrings, necklaces, bracelets, rings, or even watches, and applies it to the face, body, or hands, when the user opens the camera.
AR virtual try-on allows buyers to experience what the product looks like with just screens in front of them. Customers can try and buy entire collections without leaving the try-on screen.
This way, users can have fun playing with all the different designs, sharing their selfies with friends, making the brand viral, gaining popularity and engagement and – of course – boosting sales.
Since Aryel works with a simple URL and doesn’t need an app to perfectly function, it’s easy to integrate into any e-commerce. It also gives the chance to experiment with colors and textures or even allows users to create their own virtual designs.
Another interesting use for AR is with offline communication. Any flyer or even advertising on a magazine can be enriched with WebAR try-on experiences: users only have to scan the page to virtually try the jewel of their choice in a snap.
As we have seen above, Millennials are pretty keen to buy online rather than in stores, mainly after the Coronavirus pandemic.
Considering that this demographic segment is digital-native, AR virtual try-on experiences are perfect for engaging them. After all, trying out entire collections without leaving the house is a super convenient customer experience. Moreover, it leads to a better probability of purchase and higher spending on jewelry and accessories.
Potential buyers can try products at home without having to wait in a queue outside the store. This is an exciting perk, considering that – according to this report – 85% of customers avoided going to the jewelry stores (or didn’t buy a thing) amidst the pandemic due to the long waiting lines.
The jewelry industry, along with the fashion and make-up ones, is experiencing a cultural and digital transformation, and AR will definitely participate in this phenomenon and become a game-changer in the field.