The luxury jewelry buying experience has undergone a significant transformation. It used to be an intimate affair, with customers sitting across from a jeweler, meticulously designing their dream piece. As luxury has scaled, it’s lost that intimacy, shifting from serving that personal desire to simply moving what’s available. Given that only 20%-25% of customers enter a physical store with a clear vision of what they want to purchase, this model often leads to a less fulfilling experience and less intentional purchases.
In response, the rise of direct-to-consumer (DTC) brands is redefining luxury jewelry retailing, particularly in the United States, where consumers have demonstrated an appreciation of the convenience and personalization of online jewelry shopping. DTC brands have the unique opportunity to truly cater to the modern customer’s desire for personalization and choice, offering a vast selection of styles and price points and empowering customers to create unique pieces that express their individuality.
Angara has examined how our brand and others can reshape the online luxury experience by focusing on customization and a commitment to ethical and sustainable practices.
Reimagining the Luxury Experience: DTC’s Online Advantage
While concerns may exist about replicating the personalized service of traditional jewelers online, DTC brands are using technology to bring the industry back to its roots, creating a luxurious and intimate digital experience.
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Imagine the experience 350 years ago: a customer would articulate their vision, and the jeweler would meticulously sketch, source gemstones, craft the piece and deliver it months later. It was a deeply personal, collaborative process. Modern retail has often deviated from this, with sales strategies prioritizing readily available items, creating an imbalance where the inventoried items can overshadow the customer’s preferences.
DTC brands are leveraging AI and other technologies to reintroduce that co-creation process online. At Angara, we empower customers to design their jewelry through our website, selecting every detail to create a piece that truly resonates with them.
This level of customization necessitates a unique operational structure. Vertical integration is essential, requiring the ability to manage inventory and production with agility. To bring these customized pieces to life efficiently, you need everything in stock or the capability to produce rapidly. This is a key differentiator for DTC brands.
The Power of Personalization
At the heart of this transformation lies the concept of personalization and customization. The modern consumer yearns to express their individuality, and in the realm of luxury jewelry, this translates to a desire for bespoke pieces. DTC brands can effectively address this need by leveraging technology to provide a nearly limitless range of customization options through vertical integration — the process of consolidating the supply chain by managing sourcing, manufacturing, and fulfillment within a single company.
Consider the example of Prince Harry, Duke of Sussex, who, despite having access to any engagement ring in the world, chose to design his own. This decision signifies a deep emotional connection, rendering the ring not just jewelry but a cherished symbol of love and commitment. With this personal touch, the meaning and effort invested in the creation make the ring that much more special.
Similarly, a customer seeking a three-stone sapphire ring with a unique vision that traditional retailers might not accommodate finds empowerment in DTC platforms. They can select a base design and personalize it by selecting from various gemstones, qualities, sizes and settings. At Angara, we proudly offer upwards of 64 permutations for a single design, leading to an unprecedented level of choice and customization.
This level of personalization is simply not feasible in a traditional retail setting. A physical store might offer just a handful of sapphire ring options, whereas DTC brands can provide hundreds at varying price points. As a result, luxury jewelry shopping has never been easier.
Ethics, Sustainability, and Expanding Choice
Beyond personalization, DTC brands also are at the forefront of ethical and sustainable practices, aligning with the values of today’s conscious consumers.
DTC jewelry brands that do vertically integrate can prioritize transparency and traceability by cutting and polishing their own gemstones. This provides complete control over the supply chain, ensuring ethical sourcing and responsible practices. Many traditional retailers lack this level of oversight, leaving them uncertain about the origins of their materials and the practices taking place.
The Dawn of Personalized Luxury
Looking forward, we believe the future of luxury jewelry buying will be defined by even greater personalization, accessibility and ethical consciousness. This evolution is fueled by the unparalleled choice offered by online platforms. Unlike brick-and-mortar stores with limited shelf space, online retailers can showcase a vast array of gemstones, colors and designs. This empowers customers to explore and discover options they might never encounter in a traditional setting.
By embracing customization, reimagining the luxury experience online and prioritizing ethical and sustainable practices, DTC brands are not only shaping the future of luxury jewelry buying but also redefining the very concepts of accessibility and value in this industry.
Ankur Daga is the CEO and co-founder of Angara, a fine jewelry company that specializes in colored gemstones and online customization. He is known for his entrepreneurial vision and leadership in transforming the jewelry industry, particularly through the power of customization and online retail. Daga grew up in the gemstone industry, leading him to eventually found Angara alongside his wife, Aditi Daga. Daga is a graduate of the Gemological Institute of America (GIA) and holds a BS from the University of Pennsylvania’s Wharton School and an MBA from Harvard.
