Ashish Vijay is the Co-founder and Chief Financial Officer of Miorah since 2020. In his career, spanning over 15 years with the Group, Vijay has trained more than 50 employees who are now heading the Group’s operations in different segments. He has been awarded with numerous accolades over his career and in his free time, he likes reading and reviewing different policy papers and analyzing the current state of economy and finances of the country.
As the world is transitioning towards technology-driven changes, the lifestyles and aspirations of people are forging ahead. The same can be observed through the changes we witness in the way a product is being tailored to a market these days. Through AI technology, brands can deliver changes that can often leave us in a surprise as the product marketed to individuals matches their personal preferences. The brands are constantly utilising big data analytics and artificial intelligence (AI) to analyze and understand their customers better. Be it digital marketing strategies or e-commerce tactics that create a demand for a specific product by displaying the same, again and again on multiple online platforms, the technology is reshaping our buying needs while revamping the retailing techniques.
Jewelry, being considered as a fashion and style requisite, is undergoing a similar shift. Modern jewelry retailers are focusing more on customer experience and viewing augmented reality as the next logical step. Face recognition software is already wooing online shoppers in the makeup and eyewear market. A similar concept is becoming more mainstream in jewelry retailing wherein augmented reality is allowing potential customers to try out accessories, bracelets, and necklaces while being in the confines of their homes. This fun feature is successfully garnering more visibility while making browsing and shopping for online jewelry easier. E-shopping is rapidly taking over traditional catalog-style shopping and providing a much closer to a real high street shopping experience to customers.
The combination of computer-aided design (CAD) software and a 3D printer is taking jewelry designing to a notch-higher spot wherein designers are enabled to leverage easy corrections and extensive detailing. Jewelry in gold, silver, bronze, copper, and brass is being crafted through Lost-Wax Printing and Casting. The accessories and pieces of jewelry are being designed in a far more versatile, complex, and customized way. While pointing out the benefits of 3D printing in jewelry, it is worth emphasising that the cost and labor savings are phenomenal for both buyer and seller.
Jewelry pieces have traditionally been seen as a huge possession and status symbol; thus, clients love to leave their personal mark on what they buy. As buying jewelry is a much more personal experience to many, retailers have been involving clients in the very making and craftsmanship of jewelry. This is another major factor that is helping the jewelry retailers to add exact specifications. With technology, the entire journey is now transforming the shopping experience as more personal and exciting. The disruptive combination of 3D printing and augmented reality has significantly enabled clients to customize pieces to their specifications. Also, the use of virtual inventory is doing so much more than empowering consumers. Clients can now see beyond physical frontiers and contribute to forming unique and affordable pieces for themselves.
The high-end technology also cuts out most of the traditional labor that goes into jewelry-making. This eventually leads to quicker production times at a cheaper price alternative. This new and rather ingenious design method is unimaginably reshaping the traditional jewelry industry.
The new technology trends hold great potential for jewelry distributors, designers, and shoppers alike. With clients having the power to choose a variety of options digitally, to suggesting customizations with their design, they can evaluate the finished product virtually. This is collectively providing long-term benefits for manufacturers as well as retailers. Technology has introduced possibilities for boundless creativity, reasonable and more versatile production with quick shipment. Undoubtedly, technology is truly the next frontier in the jewelry sector.