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Beijing Business Daily (Reporter Lin Yuwei) On August 25, according to the "Global Online Jewelry Market 2024-2028" report released by global market consulting firm Technavio, the global online jewelry market will grow by US$58.4 billion from 2024 to 2028, with a compound annual growth rate of 19.98%. Innovation in jewelry design and technology is driving market growth, and the adoption of omni-channel strategies is also showing an upward trend.

The jewelry industry is undergoing a major shift toward omnichannel distribution as suppliers seek to expand their customer base and increase revenue. This trend is driven by changing shopping habits, the rise of digital consumers (especially millennials), and the convenience of online retail. Signet, Tiffany & Co., LVMH Group, and others have embraced this trend and integrated their offline and online businesses.

However, customer preference for physical jewelry stores also poses challenges to the online market. Price-sensitive customers in developing markets prefer to buy expensive fine jewelry offline because they like to touch and try it on. In addition, AR technology increases the interactivity of online jewelry purchases, but authenticity issues still exist due to counterfeit jewelry and low-quality products.