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COVID-19 restrictions broke many pre-existing habits, giving consumers time to re-evaluate how they spend their time and money away from status symbols. “This comes off the back of the lack of safety and security, pushed by being too reliant on just-in-time supply chains from the worldwide village,” he explains. Yet maybe probably the most notable pattern to emerge from the pandemic was the shift to online retail, significantly in Australia and the US. “The e-commerce facet of many, mostly independent jewelry businesses just isn’t nearly at the stage of where it must be,” mentioned Jogia. One of probably the most significant expenses on retail balance sheets is hire and the COVID-19 pandemic has thrown the long-standing conflict between retailers and landlords into even sharper relief.

Nationwide’s annual Antwerp diamond-buying trip was additionally shifted on-line to ensure members were still in a position to source and sell Antwerp stones in 2020. Jewelry Houses Take on the Fashion WorldFrom Tiffany & Company to Chopard, manufacturers are shifting beyond just precious metals and gems to create clothing. Designers have accented the substance, naturally derived from tree sap, with gold and treasured gems.

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