Ethical and Sustainable Jewelry as a Trend Challenge and Opportunity

Ethical and Sustainable Jewelry has become a hot topic in the global jewelry markets. It has inspired sustainable jewelry and ethical jewelry brands to launch new initiatives, share more information with their customers, and set new targets to do better. This includes carefully managing resource use to reduce waste, protecting the welfare of all creatures, and ensuring the safety and fair treatment of workers all the way down the supply chain including. Here are important things you should know about Ethical and Sustainable Jewelry as a Trend Challenge and Opportunity.

Sustainable as a Trend

From the study of the Global Web Index, almost 80% of the people in the world would choose to buy environmentally friendly products, particularly the ‘millennials’ (22-35 years). They tend to prefer environmentally friendly products to other generations. In the United States during the past decade, the conduct of U.S. consumers tends to go for environmentally friendly products.

The survey in 2018 found that U.S. consumers spent more than 128.5 US$ on sustainable and environmentally friendly products. Out of these 75% are millennials, followed by baby boomers. There was also anticipation from Nielsen, a world ranking company in providing information and measurement services that the market share of sustainable and environmentally friendly products will grow from 22% from 2014 to 2017 to 25% in 2021. Goods in the jewelry and decoration category would take 4th place in popularity, taking 48% growth. While the 1st to 3rd are cleaning products, cosmetics, and food, consecutively.

The Ethical Jewelry

The flow of responsibility to the society and environment, including fair trade, took an important role in choosing commodities of the new generation, worldwide, conducing lots of industries to adapt themselves to sustainable business. This includes jewelry and decoration. Apart from the quality, value, product designs, trust, brand loyalty, the important factor for the decision to buy jewelry and decorations, including the sustainable environment and social responsibility. as well as giving a priority to the community, and to supply goods ethically.

From the growing popularity of environmentally friendly products, the jewelry and decoration entrepreneur begun to produce environmentally friendly decorations, using recycled materials from electronic waste, with gold extraction from unused electronics.

More concerns are on the use of Lab diamonds in place to natural diamonds or even the style that relates to nature such as the Art Nouveau.

It is a Challenge and Opportunity

Ethics and sustainability are in the mind of many sectors and put to implementation. This means transparency and responsibility in the production source and the use of sustainable material, with the least impact on the environment. This also includes the payment of fair wages and a safe environment for employees.

It is apparent that this idea covers the process from the beginning to the end. That the mining is to be done with transparency with good hygiene for workers; the source of material can be checked all through the line, as well as to be careful of the impact to nearby environment or community. This process also covers the selection of production material that can be reused or recycled, including the fair and suitable payment, with no illegal labor, as well as the boundless and genderless designs.

Environmental Sustainability in the Widespread of Covid-19

Looking at the fashion industry in many countries waiting for resilience after the widespread of Covid-19, one of the main topics is to develop the fashion industry to sustainability. A survey from McKinsey (the leading business consulting company) pertaining to the attitude of consumers in Germany and the United Kingdom on the ‘Sustainability and Fashion Industry’ found that 88% are happy to pay more to reduce the pollution from fashion product production.

In achieving such a target, 67% of consumers agreed in using products from recycling materials, while 61% agreed in selecting products with environmentally friendly packaging.

There was research in 2020 about the ethics and the jewelry and decorations, such as Ethical Jewelry, Ethical Diamond, and Ethical Gold, which increased from the previous years by 75%, 75%, and 73% consecutively. The research on the word ‘Lab-Grown Diamond’ increased by 83%, while the interest in the word Sustainable Engagement Ring increased by 65% from the previous year.

This is a part of the unexpected benefit from the widespread Covid-19 which induces people to realize this matter. Therefore, in the near future, ethical and sustainable decoration will become a primary factor of consumers’ choice, as well as the main trend for the adaptation in the jewelry and decoration industry, in the creative work that must be pleasant and environmentally friendly.

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