As growth in the global jewelry market shifts online, retailers are investing in physical presentations to persuade hesitant consumers to experiential shopping. Case in point: the intelligent storable seating and luxurious Eddie Borgo presentation within the newly designed Nordstrom flagship to differentiate and lighten merchandise.
With a growth rate of 5% per year over the next five years according to Research and Markets, it's easy to see how and why a plethora of products mounded upon necklace, bracelet bars, and rotating earring displays are passé. If physical retailers are going to capture and convert sales, they need credibility, loyalty, and a luxury brand presence as key components.
According to McKinsey, the fine jewelry market currently accounts for only a fraction (4%–5%) of online sales but it is expected to grow to 10% of the market by 2020. Similarly, fashion jewelry sales are projected to take an even bigger slice, capturing 15% of the market by 2020.
Given the growth and potential, expect to see significant changes in accessory design and merchandising throughout the industry as retailers try to tap into emotional triggers with branded environments that coexist within a sumptuous space.