Innovation Research on the Marketing Model of Light Luxury Jewelry ()
1. Introduction
With the constant changes in era, mainstream aesthetic concepts, and fashion trends, as well as the increasing income of people, people’s demand for jewelry is constantly evolving. Light luxury jewelry, positioned between luxury jewelry and ordinary jewelry, has gradually become a significant subdivision in the jewelry market due to its moderate price and stylish design, earning the favor of consumers.
Jewelry consumers are no longer satisfied with traditional and mass-produced jewelry styles, and they attach more importance to the uniqueness and design sense of jewelry. Light luxury jewelry has demonstrated its development potential. However, issues such as severe product homogeneity, unclear target market positioning, and consumer misperceptions in the current marketing model of light luxury jewelry have imposed constraints on the development of light luxury jewelry brands. Therefore, studying innovative strategies for the marketing model of light luxury jewelry is of great significance to promoting its innovative development.
The current marketing model for jewelry primarily revolves around comprehensive strategies encompassing cultural (national trend) marketing, IP collaborative marketing, and a combination of online and offline channels, including technological platforms. However, existing light luxury jewelry brands still face issues such as brand market positioning, product innovation, and brand communication strategies, necessitating research based on this reality.
For example, Mirna El Shayeb and Sara El Deeb (Shayeb & Deeb, 2023) studied the relationship between social media marketing and the purchase intention of luxury jewelry brands; Hanbing Yang (Yang, 2023) focused on analyzing the advantages of customized jewelry marketing in the context of the Internet, and affirmed the significance of online marketing as a modern marketing method. Domestic scholars such as Li Jing (Li, 2020a) analyzed the marketing model of online and offline integration in jewelry enterprises; Chen Jie (Chen, 2019) analyzes the current situation and existing problems of China’s light luxury jewelry market; Tao Hui (Tao, 2023) stressed the importance of fully integrating new media and jewelry brand marketing with the help of the Internet platform in the new media era, borrowing brand consumption big data, and accurately achieving market positioning.
Foreign studies have analyzed the relevance of media to luxury purchase in the Internet era and started to explore new jewelry marketing models. Domestic scholars have provided a large number of practical case studies for research on marketing issues in the current market, and have also realized the important role of the Internet in the jewelry industry.
Numerous literature has laid the foundation for the research on jewelry marketing model innovation in this article, and provided a solid theoretical framework and practical cases. On this basis, this article uses research methods such as literature review, case analysis, and questionnaire survey, taking light luxury jewelry as the starting point, to continue exploring the innovation of marketing models for jewelry innovation, analyzing the current situation and problems of marketing models for light luxury jewelry, and proposing innovative strategies for marketing models for light luxury jewelry, in order to moderately expand and supplement the research on marketing model innovation in the current jewelry field.
2. Innovation Research on the Marketing Model of Light Luxury Jewelry Line
In 2023, China’s jewelry industry has seen a rise in the retail market against all odds, with the market size reaching a new high. According to data from the China Jewelry and Jade Ornament Association, the market size of China’s jewelry industry in 2022 was about 719 billion yuan, and it is expected to grow to 909.4 billion yuan by 2027, showing a steady growth trend (China Jewelry and Jade Ornament Association, 2023).
In terms of jewelry categories, major categories such as gold, diamonds, jade, colored gemstones, pearls, platinum, and silver have all developed. In particular, the consumption share of gold products, especially pure gold products, continues to increase. In addition, the growth of jade and colored gemstones is also relatively rapid (China Jewelry and Jade Ornament Association, 2023).
The jewelry industry has also experienced significant innovation in craftsmanship. For example, 3D gold and 5G craftsmanship are popular in the market due to their higher hardness and three-dimensionality. The popularity of ancient gold craftsmanship reflects the increasing demand of consumers for jewelry diversity and personalization (Future Think Tank, 2024).
Jewelry e-commerce has grown at a high speed of over 40% and has become a new growth pole for the jewelry industry. With digital transformation gradually becoming the mainstream trend in the jewelry industry, especially since the outbreak of the pandemic, new technologies such as online sales and virtual try-on have been widely applied, providing strong support for jewelry businesses in adversity (China Jewelry and Jade Ornament Association, 2023).
According to the “2023 Jewelry Consumption Trend Report” released by Chow Tai Fook, about 60% of consumers consider the value preservation of gold jewelry when purchasing, and as the younger generation becomes the new consumer main force, the demand for jewelry consumption diversity and personalization is increasingly rising (Chow Tai Fook, 2023).
2.1. Product Differentiation Strategy
Product differentiation strategy refers to the strategy of jewelry companies to distinguish their products from those of competitors through unique design, materials, craftsmanship, and other means, thereby attracting consumers. According to the “Global Luxury Industry Report” released by Deloitte, about 40% of consumers said they are willing to pay a higher price for customized jewelry (Deloitte, 2020).
Jewelry companies cooperate with well-known designers to launch limited series of products, or use special carving techniques and raw materials to increase the unique characteristics and value of the products. Companies conduct market analysis to explore customer desires and preferences, and then carry out product innovation and manufacturing based on the information obtained. Brands integrate traditional elements into jewelry design to create distinctive jewelry products that meet consumers’ demand for product connotation. Brands can use online sales platforms, social media, and other means to present unique products to customers, thereby stimulating their interest and promoting their purchase behavior (see Figure 1).
Figure 1. Jewelry brand product differentiation strategy current status analysis.
2.2. Experiential Marketing
Experiential marketing is a strategy used by jewelry companies to attract consumers and enhance brand image by providing a unique shopping experience. A report by Morgan Stanley pointed out that in 2023, 12% of the global jewelry market came from online sales (Stanley, 2020).
Jewelry merchants establish physical experience stores, implement personalized professional sales assistance, hold jewelry appreciation events, and create interactive experience areas, enabling customers to deeply understand product details and strengthen their purchase decision. Companies use online platforms to create an extraordinary online shopping experience for customers through virtual try-on and augmented reality technology, thereby attracting a young customer group. Companies integrate artistic elements into the store decoration and interactive links, creating a shopping place full of artistic atmosphere and enhancing the customer’s shopping experience. Jewelry companies can rely on a variety of channels such as physical experience stores, online sales platforms, and social media to create a unique consumer experience, thereby attracting consumer attention and promoting their purchase behavior (see Figure 2).
2.3. Cross-Border Cooperation and Brand Cooperation
Cross-border cooperation and brand alliance refer to a jewelry brand collaborating with a well-known non-jewelry enterprise to jointly develop unique co-branded products to attract customers and stimulate their desire to purchase. According to a survey by Nielsen, about 66% of consumers said they are more inclined to buy brands that have a positive impact on society and the environment (Nielsen, 2020).
Jewelry brands collaborate with famous figures or well-known individuals in the fashion, entertainment, and art fields to jointly launch co-branded product series, achieving the purpose of resource sharing and mutual benefit through this method. Jewelry companies integrate the characteristics of their partners into their product design and market promotion activities to create personalized joint brand products. Companies can use social networks, e-commerce websites, social media, physical stores, and other channels to advertise and promote co-branded products, promote and sell their co-branded series, attract customers, and stimulate their desire to purchase (see Figure 3).
Figure 2. Analysis on the current status of experiential marketing strategies for jewelry brands.
Figure 3. Analysis on the current status of cross-border cooperation and brand collaboration strategies for jewelry brands.
2.4. Cultural Marketing Strategy
When the marketing strategy involves cultural activities, the focus is on jewelry companies exploring the cultural value of jewelry products and integrating traditional elements with modern aesthetics to enhance brand reputation and deepen customer resonance.
Brands for the jewelry industry organize exhibitions related to jewelry culture, promote public education on gemstone knowledge, and launch jewelry product series with rich cultural heritage. Jewelry companies integrate traditional culture into the design concept to create accessories with rich cultural heritage, in order to meet customers’ pursuit of deep cultural value. Companies use online platforms, such as social websites, corporate sites, social media websites, physical retail stores, and other paths, to publish and promote jewelry knowledge, and promote jewelry accessories with rich cultural heritage to attract customers’ attention and promote purchase behavior (see Figure 4).
Figure 4. Analysis on the current status of cultural marketing strategies for jewelry brands.
2.5. Internet+ Marketing Strategy
The Internet integrated marketing strategy refers to the jewelry industry’s strategy of maximizing the use of online platforms to promote the coordinated development of online and offline business. For the jewelry industry, strategies such as online limited-time promotions, live streaming sales, and promotions through community platforms are implemented. Jewelry companies can use big data and artificial intelligence technology to accurately identify potential customers, thereby optimizing their marketing strategies. Jewelry companies can create promotional content with a brand mark by integrating the brand’s heritage into their online marketing strategies, thereby attracting customers’ attention. Jewelry enterprises use various channels such as online e-commerce platforms, social media platforms, and offline physical stores to display and sell jewelry products, achieving the integrated development of jewelry products online and offline (see Figure 5).
![]()
Figure 5. Analysis on the current status of internet plus marketing strategies for jewelry brands.
3. Existing Problems
3.1. Market Positioning Is Not Clear Enough, and the Target Group Is Not Sufficiently Defined
In the light luxury jewelry market, the ambiguity of market positioning prevents brands from accurately grasping the needs of the target group. Many brands try to cover too many market segments, aiming to attract high-end consumers while also attempting to enter the mid-to-low-end market. This leads to an unclear brand image and confusion among consumers, which prevents the brand from standing out in fierce market competition, affecting its market share and profitability. For example, a survey of the Chinese jewelry market showed that over 60% of consumers believe that the positioning of jewelry brands on the market is similar and difficult to distinguish (Li, 2020b).
3.2. Marketing Model Is Rather Traditional, and Marketing Methods Need Innovation
Currently, the marketing models of many light luxury jewelry brands are still quite traditional, mainly relying on offline physical stores and traditional advertising. However, with the advent of the digital age, the channels through which consumers access information and the ways they shop have changed dramatically. Traditional marketing models can no longer meet the diverse needs of consumers. A study shows that young consumers are more inclined to obtain jewelry information through social media and online platforms rather than traditional advertising (Zhang, 2019). Therefore, light luxury jewelry brands urgently need to innovate their marketing methods to adapt to market changes.
3.3. Brand Recognition Is Insufficient, and Homogenization Is Severe
In the light luxury jewelry market, low brand recognition and severe homogenization are common problems. Many brands lack uniqueness in design, materials, and styles, making it difficult for consumers to differentiate between them. A survey of the jewelry market found that about 75% of consumers believe that there is a serious lack of innovation and homogenization in the products on the market when purchasing jewelry (Wang, 2020). This situation puts the brand at a disadvantage in fierce market competition, making it difficult to attract consumer attention and purchases.
3.4. Lack of Personalized Marketing, and Insufficient Customer Loyalty
In the current light luxury jewelry market, the lack of personalized marketing leads to insufficient customer loyalty. Many brands fail to fully understand consumer needs and provide personalized products and services during the marketing process. A survey on consumer loyalty to jewelry brands showed that only less than 30% of consumers express strong loyalty to a particular jewelry brand (Liu, 2020). This situation results in low brand loyalty among consumers, making it difficult to form a long-term stable customer base.
4. Countermeasures and Suggestions
4.1. Clear Market Positioning, Lock Target Groups
At present, in the jewelry market, low-priced goods and high-priced luxury goods will be favored by consumers, while mid-range goods are left out in the cold, so the development of luxury line is particularly important.
First of all, we should make clear the market positioning of light luxury products. Enterprises can define the market positioning and lock the target group by understanding the characteristics of the target customer group, analyzing competitors, adhering to the brand image, optimizing marketing channels and continuously optimizing and adjusting. At the same time, enterprises should distinguish it from high-end lines and ordinary lines. When consumers buy luxury products, they should not only enjoy high-quality and well-designed products, but also enjoy relatively acceptable prices.
After entering the new media era, jewelry enterprises should make full use of existing media resources, establish their own brands and flows, effectively understand and meet the needs of target customers through various channels, so as to enhance the brand value and comprehensive competitiveness of enterprises, which is a requirement with the increasingly obvious trend of diversified consumption. The organic combination of enterprise market positioning and new media marketing mode is an important way to improve enterprise brand value and competitiveness. Then enterprises should produce products of various grades and make corresponding emotional demands according to the needs of target customers, so as to effectively meet different levels of consumer demand.
4.2. Innovative Marketing Model, to Carry out Integrated Marketing
1) Development and integration of diversified marketing channels
Broaden the commercial territory and enhance the brand influence, the jewelry industry can explore and integrate with diversified sales paths. Use Amazon, JD.COM, Tmall and other well-known e-commerce platforms to build online sales channels. These platforms, which can help jewelry brands rapidly expand their sales scope, have a huge user base and a strong logistics network; Social media marketing such as Instagram, Facebook and WeChat, display jewelry products, share brand stories and interact with fans to strive for more attention to the brand through frequent updating of information, communication with consumers, online activities and other means; in terms of information promotion, in order to attract predetermined customer groups and provide useful information, excellent contents such as writing comments, video teaching and matching manuals have been produced. This is of great help not only to the promotion of brand awareness, but also to the promotion of the brand’s professional industry image. Cross-border cooperation, with the goal of enhancing brand awareness and attracting more potential consumers, work together in the fields of clothing, beauty, wedding photos and other related fields to jointly plan activities and launch joint brands; set up physical stores in core business districts or large shopping centers to provide offline customers with shopping experience and provide follow-up support. Physical stores can increase customers’ willingness to visit and buy, and attract customers by holding jewelry exhibitions and various themed activities.
2) Application and optimization of digital marketing means
Jewelry industry can effectively enhance brand influence, attract customers and promote sales growth through diversified digital marketing strategies. E-commerce platform optimization: display jewelry products on the e-commerce platform, and optimize product pages, including clear product pictures, detailed product descriptions, customer evaluations, etc., to enhance the shopping experience and conversion rate; mobile application development: develop exclusive mobile applications to provide more convenient shopping experience and personalized recommendation service; social media advertising: using the advertising function of social media platform to directionally push the advertising content of jewelry products to the target customer group search engine marketing: through the advertising of search engine, the advertisements of jewelry products are displayed in the search engine result page to attract users to click and visit the website; content marketing optimization: create high-quality and attractive content, including blog articles, video tutorials, jewelry information, etc., to attract users’ attention and increase brand exposure; application of virtual reality (VR) and augmented reality (AR) technology: using VR and AR technology, we can provide users with an immersive shopping experience, so that they can try on jewelry and experience the effect of products in a virtual environment, and enhance the fun and sense of participation in shopping.
Jewelry companies should take the initiative to implement integrated marketing strategies and use new media to promote activities. In order to effectively improve the publicity effect of the brand, the methods of network public relations, video integrated marketing, online advertising database and promotion search engine construction, search engine promotion and e-commerce promotion are used in a diversified way to comprehensively carry out integrated marketing of jewelry products.
4.3. Enhance the Brand Image, Improve the Brand Concept
Innovation is the vitality of the brand. One of the fundamental reasons why most world-renowned jewelry brands are enduring in the fierce market competition and constantly creating marketing miracles is to constantly cultivate the brand’s innovation ability, adapt to different market demands and the needs of fashion development, and maintain the brand’s market leading position and brand characteristics in constant innovation. Jewelry brand innovation includes product innovation, marketing concept innovation, marketing channel innovation, management innovation and business model innovation. In order to establish brand uniqueness, jewelry enterprises must explore ways of brand innovation (Bao & Dong, 2011).
4.4. Develop Personalized Marketing, Increase Customer Stickiness
Through customized sales methods, the jewelry trading market can meet the specific requirements of various consumers, thus enhancing customer satisfaction and loyalty. First of all, carry out in-depth research on the target market and gain insight into customer preferences, needs and behavior patterns. After deep data mining and market research, we can identify a variety of consumer categories and carry out detailed division and evaluation; building consumer image and positioning: based on the data of market survey, we have created detailed consumer images, which cover the information of consumers’ age, gender, place of residence, economic situation, shopping preferences and many other aspects. Then, make clear the market segments of potential consumers and work out special sales plans for these market segments; customized product design: combine the specific needs and preferences of various consumer groups to create unique jewelry. Provide customers with exclusive customized services, so that they can integrate into the design process and create unique jewelry that only belongs to them. Personalized content planning: design matching marketing information according to consumers’ unique preferences and interests. Covering customized advertisements, marketing activities and social platform information, etc., with the aim of attracting potential customers; at the same time, conduct customized communication and interaction to establish close contact with consumers and collect their feedback. Maintain contact with consumers through email promotion, SMS promotion, social media interaction and other means, and quickly meet their needs and answer questions; customer maintenance and feedback: the implementation of personalized customer service and care, so that consumers can experience the attention and respect of the brand. Such as birthday gifts, exclusive offers and so on.
5. Conclusion
This study has conducted an in-depth exploration and analysis of innovative strategies for the marketing model of light luxury jewelry. The key findings reveal significant growth points for the jewelry industry’s development, including the promising light luxury jewelry market with immense potential. Traditional marketing models in the jewelry market have become increasingly difficult to meet market demands, necessitating innovation and transformation. The formulation and execution of innovative marketing strategies play a crucial role in jewelry companies gaining a competitive edge in the light luxury market.
This research systematically examines the innovative strategies for the marketing model of light luxury jewelry, providing theoretical support and practical guidance for jewelry companies to better seize market opportunities and achieve sustainable development, aiming to gain a competitive advantage in the light luxury market. It also promotes the dissemination and development of jewelry culture, contributing to the transformation and upgrading of the jewelry industry.
Although this study has achieved certain results, we are cognizant of its limitations. Firstly, the analysis is primarily based on existing literature and case studies, lacking support from large-scale empirical research. Secondly, this study focuses primarily on the innovation of marketing strategies in the light luxury jewelry market, without exploring other related areas, such as supply chain management and product design.
Acknowledgements
The 99th: Research on market development strategy and scheme design of light luxury line in jewelry industry—taking Cuihua Jewelry brand as an example.