- Whereas ‘jewellery giants’ like Jared and Zales are reporting weak gross sales, millennial-run companies with vibrant Instagram presences are shaking up the engagement ring market. This shift is reshaping the $13 billion greenback trade.
- The platform has each created and responded to a requirement for an immersive, personalised, and instantaneous purchasing expertise.
- Celebrities’ and influencers’ Instagram posts about their rings are impacting customers’ preferences and figuring out designers’ advertising and marketing methods.
- Mother and pop retailers are struggling to maintain up as eCommerce surges.
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The picture posted to Stephanie Gottlieb’s Instagram options the 32-year-old jewellery designer’s completely manicured fingers in entrance of a blurry cerulean Pacific Ocean. In focus are her rings — most notably, a big cushion-cut diamond piece. “Image good,” she captioned the picture, including the engagement ring and seashell emojis. The snapshot from her anniversary trip is considered one of many out-of-office moments that Gottlieb shares to her high-end jewellery model’s account.
Stephanie Gottlieb High quality Jewellery, which started as a one-woman operation in 2013, has grown to make use of 11 individuals who function out of a New York Metropolis showroom. The corporate’s success and proliferating gross sales are largely because of the profitable leveraging of Instagram, in accordance with Gottlieb.
“Yr after yr, our gross sales have grown in correlation with our social media following,” she instructed Insider, noting that Instagram is the enterprise’s solely advertising and marketing so far.
A rising 328,000-user following and occasional social media shout outs from influencers like Lady With No Job (often known as Claudia Oshry) and “Actual Housewives of New York Metropolis” alum Bethenny Frankel recommend continued momentum for the enterprise.
Gottlieb shouldn’t be the one jewellery entrepreneur adapting to an more and more Instagram-dependent world.
Jewellery designer Nicole Wegman based her luxurious jewellery enterprise, Ring Concierge, 6 years in the past, with a millennial viewers in thoughts — and a advertising and marketing technique to match.
“Social media has been instrumental within the development of the corporate,” she instructed Insider.
Wegman’s purpose to create an engagement ring for millennials, she says, extends past the product itself; she goals to supply the purchasing expertise she believes her era would need.
Wegman is aware of her on-line viewers’s aesthetic. The designer’s posts to Instagram, which obtain 1000’s of likes and feedback, sometimes function engagement rings and Wegman’s signature deep-red nail polish in opposition to a background of journey hotspots and a ‘gram-worthy showroom. The Ring Concierge account has accrued 285,000 followers and even superstar clientele, together with “The Bachelorette” stars Joelle “Jojo” Fletcher and Jordan Rodgers.
The technique and development of each companies, in distinction to jewellery giants like Kay, Zales, and Jared that reported weak vacation gross sales in 2019, level to the methods by which Instagram is reshaping the 13 billion greenback engagement ring trade. An trade the place, as Wegman says on her web site, the road between retailer and influencer is blurring.