It was a test for many industries around the world when the global recession spread like wildfire a few years ago. Right now, companies and consumers alike have an optimistic outlook and it shows as economies are slowly but surely starting to recover.
The jewelry industry, though luxurious and very rewarding, becomes easily vulnerable when economic challenges arise. That is why a lot of jewelry retailers have to be resourceful and flexible when trying to stay relevant in the industry.
One such strategy that many high-end and mid-range jewelry retailers employed to survive the recession is offering alternative metal jewelry together with their precious metals collections. Stainless steel jewelry in particular has gotten very popular among customers, mostly with men though appreciative women are not so far behind. The shift in consumer interest and priorities plus the fact that spending habits have been altered by the economic challenge made many jewelry retailers invest in alternative metal jewelry. And it paid off quite nicely, as many say that embracing the affordable side of the jewelry industry is what saved many jewelry retailers to ruin.
In addition, alternative metal jewelry has also gotten the attention of high fashion designers and brands like Vivienne Westwood, Armani and many others. Infusing their collections with alternative metal jewelry and giving stainless steel jewelry a make-over increased the number of consumers who now purchase these once exclusively elitist products. Which begs the question whether there is still a line between fine and fashion jewelry when the perspective of most consumers with regard to value has drastically shifted?
Though some might argue that gold will always be the top dog of fine jewelry, it cannot be denied that alternative metal jewelry like stainless steel jewelry has started to grow on customers wanting affordable and stylish accessories. And as the economy and the jewelry industry start to recover, it appears that alternative metal jewelry also can stand toe to toe with fine jewelry, as top brands and jewelry retailers now offer stainless steel jewelry in the price point that is just a few hundred dollars below silver jewelry.
What makes the jewelry industry great is it never stands still. The jewelry industry is as dynamic as the consumers who appreciate it. Whether alternative metal jewelry will continue to move forward or not, the fact remains that products, like stainless steel jewelry, has served an integral part in the jewelry industry, helping jewelry retailers survive and even succeed amidst the recession.VG2WMUENZNSX
