Global online jewellery market to increase by $58.4b by 2028

This is driven by advancements in jewellery design and technology.

The global online jewellery market is set to grow by $58.4b from 2024 to 2028, with a compound annual growth rate (CAGR) of 19.98%, according to Technavio.

Key drivers include advancements in jewellery design and technology, alongside a shift towards omnichannel strategies. 

Major brands like Signet, Titan, Tiffany & Co., LVMH, and Richemont are integrating their online and offline operations. Amazon Go's innovative "walkout" technology, which uses computer vision and sensor fusion, exemplifies this trend by eliminating checkout lines.

Additionally, the market is also benefiting from virtual try-on features, secure payment gateways, customisation, ethical sourcing, and easy returns. 

However, the market faces challenges, particularly in developing regions where price-sensitive customers often prefer the tactile experience of in-store shopping for expensive fine jewellery. 

In countries like India, the preference for physical stores remains strong. To counteract this trend, retailers are incorporating virtual reality (VR) and augmented reality (AR) technologies to offer virtual try-on capabilities. 

Despite these innovations, poor technology integration and operational issues such as incorrect product assortment and order fulfillment errors pose significant hurdles for small-scale online retailers. These challenges may affect emerging players in the market during the forecast period.