The jewellery industry is one that has grown and flourished since the beginning of human civilization, and even more so in today’s times where they stand as a symbol of class and finesse. While real jewellery, made from actual precious stones and metals can cause a large sum, it does not stop people from investing in them. However, in recent times, some people have shifted to buying artificial jewellery instead. It is no wonder that the current decade has seen a drastic increase in this industry.In India, a lot of the jewellery market is driven either by confident fashion people or those wishing to make investments. However, with the shift to artificial jewellery, the primary purpose of jewellery has become aesthetic, with no investment values attached.
THE GROWING MARKET
The artificial jewellery industry has been a great market in both rural and urban areas simply because of the affordability factor. Moreover, they are manufactured faster, and are available in a variety of styles, designs, and to meet different specifications. The best manufacturers are capable of making jewellery which can hardly be distinguished from real jewellery, making them a very sound option. Numerous factors are contributing to the growth of the artificial jewellery industry:
Costs: With the rapid increase in prices of gold and diamond jewellery, some people have felt the hole that jewellery can bore into the pocket of the average person. In comparison, artificial jewellery is much more friendly for the pocket. Moreover, imitation jewellery can be bought according to recent trends and changed regularly without facing much guilt about costs.
Variety: The amount of variation possible in imitation jewellery and the speed at which it catches up to current trends gives it a decided edge over more precious stones and metals. Moreover, imitation jewellery appears to be more appropriate in all settings and can be worn with a wider range of outfits.
Security: There has been an undeniable rise in the amount of crime and theft that we find in society today, especially with the increasing cases of chain snatchings, and robberies. Hence, many people have become apprehensive about investing their money in jewellery and then facing the constant fears and anxieties of keeping them protected and safe. Imitation jewellery does not come with this issue and has hence become a more comfortable option for daily use or for wearing to areas and event which have a higher chance of crime.
STARTING THE BUSINESS
The artificial jewellery industry can be as vast or small as a person chooses to make it. For obvious reasons, it has gained a lot of traction as a large scale industry, with many big manufacturers taking up the task, and setting up factories and employment.
However, it is also equally common to find this work being done at a smaller scale, and in specific households. There are also some traditional or distinct styles which have been taken up by artisans who specialize in that particular field.
Home-based: This sort of industry is lucrative for those who are looking to it as an additional source of income, and hence want to focus on it only part-time. There is very little capital investment required which makes it more convenient. Employment can be minimal, or limited to within the family itself.
Shop-based: This type of business requires a little more effort and commitment, especially since there is a small amount of capital investment involved for appliances, machinery, space, and the rents which have to be paid. There is also the issue of employing people to make it successful. This is a more long-term and concrete option and will involve far more strategizing marketing, and investment.
Online: Online markets are a thing that most intelligent sellers tend to use to their convenience today. This may be an extension of an already existent business or the sole platform upon which the business functions, and can work perfectly fine either way. There is a broader reach, with minimal geographical limitation.
Hopefully, this has given you an idea about the rising use of artificial jewellery, whether you plan to purchase it or set foot into the manufacturing industry.