Perfume infused jewelry is a combination of jewelry with tincture of fragrance infused in it. The market mainly targets the elite class and is considered as one of the best gifting options. The jewelry is built by adding perfumed particles, that diffuse fragrance with growing application and this arouses the customers to continue demanding for the product. The increase in disposable income and the growing trend of perfumed jewelry as a status symbol is accelerating the demand for the market.
COVID-19 Scenario Analysis:
Decline in demand
COVID-19 has resulted in decline of demand for the perfumed jewelry in the market. The offline supply chain is disrupted but no significant revenue has been observed from the online stores as well.
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Slow growth expectancy
The market is expected to experience a slower growth after the resettlement of the COVID-19 impacts. This will soon get back in order as and when the economic activities are spurred generating more disposable income leading to more consumption of luxury goods.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Perfume and jewelry were individually seen as the market attractions and grabbed enough market size to generate sufficient revenue for the marketers. The infusion of perfume in jewelry was discovered as an all new concept that intrigued the customer to make a move and try out the newest innovation. Very soon the market not just got approval from the consumer base but also a high potential demand was generated for the same. The high price of the product continues to act as a market restraint as only a specific market segment can be captured and not all.
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The global perfume infused jewelrymarket trends are as follows:
New product launches to flourish the market
New and attractive innovations have always been the center of attraction in the consumer base, especially in the women’s segment. Jewelry and perfumes have been conquering the psychological satisfaction from customers of all types and hence this new product gathered much of attention than expected.
These jewelries are made up of gold or silver or any other rich metal. The patented perfumed capsules are coated with gold or silver or any other related substance. This encapsulated form lets the fragrance come up slowly and keeps it intact for days and days.
Key targeting the women jewelry
The main customer target for the perfume infused jewelry are women who happen to develop a stronger jewelry and apparel demand than men and hence the innovative idea targeting the women to ease the conversion of their product into revenue.
From basic pendants to wrist bands and bracelets, certain key additions have been made to the jewelry where the perfumed capsules would be fixed and the fragrance could be continued for a longer period of time. The necklaces are very stylish and hence the consumers get easily attracted toward making the purchase. The marketers make the availability of the product offline through exclusive stores and inline through websites and platforms.
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Key Benefits of the Report:
- This study presents the analytical depiction of the global perfume infused jewelry industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global perfume infused jewelry market share.
- The current market is quantitatively analyzed to highlight the global perfume infused jewelry market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global perfume infused jewelry market analysis based on competitive intensity and how the competition will take shape in the coming years.
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