Exquisite Jewelers Miami
Millennials Care About Sustainability When Purchasing Jewelry
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It’s no secret that Millennials have the biggest spending power on global luxury products and are a driving engine of luxury sales growth. However, Millennials
as consumers have distinct values and expectations towards the environmental and social aspects of the manufacturing process. They cherish sustainability in their purchase decisions and are dedicated to convincing businesses and companies to change their ways of producing products.
As for the jewelry industry, it has been bombarded by bad press and social media posts due to the horrible depiction of ethical and moral standards. It’s hard to forget the environmental issues, child labor, and blood diamonds’ conflicts that were being shown to audiences all around the world. Sadly, high-end brands are often involved in non-sustainable practices that go against modern generation values. The luxury and jewelry industry is now trying to clean up their acts by changing their ways to meet the growing trend towards ethical significance and sustainability standards.
Modern generations of consumers increasingly demand and are willing to pay for only sustainable brands and products. Higher ethical standards are expected from the jewelry producing industries, and their lack of transparency can be a cause of negative associations. Traceability has been mentioned by Vogue magazine as “one of the toughest challenges the jewelry industry is facing in its efforts to become more sustainable.”
Sustainable jewelry production isn’t such a straightforward process due to a complex way of making and issues with communication and transparency. However, Millennials are strongly set on changing current practices and consumers of the new social media age are demanding information and visibility prior to establishing their purchase decisions. Jewelry industries can no longer keep a façade and feed customers with shinny disruptions. The ethical side of things is now the key component of the jewelry industry’s growth.
Big high-end brands are already beginning to realize the importance of transparent and sustainable actions and practices. They want to meet the expectations of the Millennials and to help influence the market for new positive and sustainable environmental impacts. Gold, as one of the most used products in jewelry making, and its mining have polluted our planet with spillage of chemicals, but now the gold mining industries are making an effort to change their ways and meet the demands of Millennials.
The problem with sustainability is that ethical and environmental expectations vary in various cultures so it can be a difficult and tough task to meet all of the demands of millennial consumers. The full transparency is hard to achieve as some mining activities take place in highly remote and informal settings. However, if jewelry industries want to stay afloat, they cannot ignore modern generation values and demands so they should work towards higher standards of sustainability.
As for the jewelry industry, it has been bombarded by bad press and social media posts due to the horrible depiction of ethical and moral standards. It’s hard to forget the environmental issues, child labor, and blood diamonds’ conflicts that were being shown to audiences all around the world. Sadly, high-end brands are often involved in non-sustainable practices that go against modern generation values. The luxury and jewelry industry is now trying to clean up their acts by changing their ways to meet the growing trend towards ethical significance and sustainability standards.
Modern generations of consumers increasingly demand and are willing to pay for only sustainable brands and products. Higher ethical standards are expected from the jewelry producing industries, and their lack of transparency can be a cause of negative associations. Traceability has been mentioned by Vogue magazine as “one of the toughest challenges the jewelry industry is facing in its efforts to become more sustainable.”
Sustainable jewelry production isn’t such a straightforward process due to a complex way of making and issues with communication and transparency. However, Millennials are strongly set on changing current practices and consumers of the new social media age are demanding information and visibility prior to establishing their purchase decisions. Jewelry industries can no longer keep a façade and feed customers with shinny disruptions. The ethical side of things is now the key component of the jewelry industry’s growth.
Big high-end brands are already beginning to realize the importance of transparent and sustainable actions and practices. They want to meet the expectations of the Millennials and to help influence the market for new positive and sustainable environmental impacts. Gold, as one of the most used products in jewelry making, and its mining have polluted our planet with spillage of chemicals, but now the gold mining industries are making an effort to change their ways and meet the demands of Millennials.
The problem with sustainability is that ethical and environmental expectations vary in various cultures so it can be a difficult and tough task to meet all of the demands of millennial consumers. The full transparency is hard to achieve as some mining activities take place in highly remote and informal settings. However, if jewelry industries want to stay afloat, they cannot ignore modern generation values and demands so they should work towards higher standards of sustainability.