Europe is a thriving market for exporting jewelry. A major reason behind this trend is the gem and jewelry industry of Europe has not been affected by the global economic turmoil. On the contrary, it is expected to grow further as EU countries gradually recover. Ornaments made of synthetic gems, particularly man made diamonds are enjoying rising popularity among European countries.
Growing Consumer Confidence in Lab Made Diamond Jewelry–
The consumer confidence in lab made diamond jewelry continues to rise. The wholesale synthetic gemstones jewelry items are particularly valued by female consumers, especially for important occasions such as engagements, birthdays or wedding anniversaries. While Germany, Italy, and France have an established reputation for both classical and trendy jewelry, Europeans are always very open and receptive to work by American artists, since they consider American culture as very hip, contemporary and trendsetting.
Jewelry Industry Stats–
According to Statista, one of the biggest business data platforms, revenue in the Jewelry segment amounts to US$32,843m in 2019. The jewelry market in Europe is expected to grow annually by 0.6% (CAGR 2019-2023). European imports of jewelry and accessories recorded steady growth (4% CAGR) in the last 5 years, due to the increased demand for jewelry with a creative and modern flair.
E-commerce is growing fast in the European jewelry sector–
With the growing popularity of affordable price cubic zirconia and lab created diamond jewelry, low-cost jewelry sales are rising all across EU. The online jewelry stores especially dedicated for selling affordable synthetic gem ornaments are driving high value. With low unemployment rates and increasing purchasing power among consumers, Europe is emerging as the massive market for wholesale gemstones for sale.
Tips on Selling Jewelry to Europe–
TIP 1– In Europe, both men and women love to wear jewelry. So you cannot simply think of capturing the attention of only one gender. You need to give equal importance to women as well as men jewelry.
TIP 2– If you wish to cash in the European jewelry sector, you need to have a huge offering. Europeans prefer to wear various types of ornaments. Bracelets, man made diamond engagement rings, necklaces, earrings, anklets, belly rings and more should be in your offering.
TIP 3– Instead of setting up a physical store, it would be a great idea if you sell jewelry online. Europeans love to buy jewelry via online stores. The thought of selling jewelry online seem challenging, but it’s actually a lot easier than you think.
Any type of jewelry can convert sales online. Take the time to identify and define what type of jewelry you want to sell. Jewelry has been known to yield profit margins of around 25 to 75%, and this is one of the main reasons jewelry is such a great niche to get into.