As Singapore stepped into recovery from the pandemic, social gatherings and events have slowly been resuming, albeit with limitations in place. At the end of April 2021, capacity limits for marriage solemnisations, wedding receptions, and live concerts/shows increased.
The pandemic has accelerated the digitisation of jewellery players in Singapore, resulting in greater use of online platforms to generate sales of fine and costume jewellery. Dominant brands, such as Chaumet and Tiffany & Co, allow consumers to connect with shopping advisors through phone or email and offer free doorstep delivery for all purchases.
Fine jewellery connoisseurs and collectors are expected to start investing in jewellery again now that Singapore has started to recover from the pandemic. As the pool of affluent jewellery investors widens, it is likely that fine jewellery will experience an uptake, with diamonds, gemstones, and jewels being particularly popular to invest in in recent years.
The acceleration of digitalisation among jewellery players has resulted in the emergence of innovative online experiences from local jewellery players striving to reinvent themselves. For example, local brand Jouer by Simone has launched an online personalisation experience in which consumers can customise their own fine jewellery designs, including rings, earrings, necklaces, and bracelets, on the brand’s online website.
As well as leveraging the digital space as an alternative channel for sales, virtual exhibitions and events that have sprung up during the pandemic are expected to become the new normal. Such events will help maintain the level of interaction between brands and consumers and boost interest in the category.
The pandemic has accelerated the move towards more sustainable production methods from brands and retailers, as well as a shift in consumer preferences towards sustainable options. In recent years, brands have started developing alternatives to gemstones, such as diamonds, silver, and gold.
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Understand the latest market trends and future growth opportunities for the Jewellery industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Jewellery is a kind of personal adornment usually made with various precious and semi-precious materials such as gemstones, precious metals, beads, glass, and shells. Jewellery segment as either real or costume jewellery. Hair Accessories are not included as part of Real or Costume jewellery.See All of Our Definitions
This report originates from Passport, our Jewellery research and analysis database.
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