Alternative Metals and Younger Customers Help Businesses Survive Recession
The economy has a great influence when it comes to consumer behavior. Due to the global recession, businesses across all industries had to get innovative whether it is the product they sell or the customers they target.
One of the more resilient industries after the economic crisis began is the jewelry industry. Because it is considered a luxury, many people had low expectation on how jewelry businesses will fair when the recession took its toll but the industry surprised everyone due to its staying power.
High end retailers started offering alternative metal jewelry like titanium, tungsten carbide and stainless steel jewelry to soften the blow of the recession. By giving inexpensive options, retailers provided their customers luxury even in hard economic times. Alternative metal jewelry also opened many businesses to other consumer markets in the form of younger people.
According to research, many people develop brand loyalty during their teenage years that can last up to adulthood. Because of this, targeting the youth as a market can be very rewarding to a jewelry business. Teenagers have control not just to the products that they buy but can also influence their parents' purchases.
As of the moment, alternative metals like stainless steel jewelry have great appeal to the young market. Due to their limited spending power, stainless steel jewelry got the attention of younger customers because of its affordable price and good quality. Also, jewelry retailers must not forget that it is natural for customers to buy up in time and tapping the youth as a target market by offering inexpensive products can have profitable results for years to come. These products introduce the business brand to these customers, who usually tend to buy up as their social or economic status improves.
The resilience of the industry can be connected to how entrepreneurs have innovated and became flexible on how they do their business. Not being afraid of exploring other facets of the business gave jewelers the ability to adapt and survive. Jewelers began offering fresh and innovative products in affordable price point and expand their consumer markets which appeared to be a great strategy to recession-proof their businesses.
Lina Lambert - About Author:
Lina Lambert, loves to write article out from her collections especially accessories, gadgets and jewelries from Inox Stainless Steel jewelry either for men and women as alternative metal jewelry. Visit the website and learn more about the products that beautifies men and women as mens steel jewelry and womens steel jewelry respectively.
Published by Sarabrook51 on March 3rd 2012 | Jewelry
Published by Adaxx on December 17th 2011 | Jewelry
Published by Julia Bennet on January 8th 2012 | Jewelry
Published by Harry Smith on December 12th 2011 | Jewelry
Published by Harry Smith on February 20th 2012 | Jewelry
Published by Harry Smith on December 26th 2011 | Jewelry
Published by Harry Smith on May 1st 2012 | Jewelry
Published by Raviexpertseo on December 29th 2011 | Jewelry
Published by Alina Nikol on March 21st 2012 | Jewelry
Published by Harry Smith on April 2nd 2012 | Jewelry
Published by Ashley Carron on March 21st 2012 | Jewelry
Published by Walterabish on April 19th 2012 | Jewelry
Published by Harry Smith on April 9th 2012 | Jewelry
Published by Andrewsiddle2011@yahoo.com on April 20th 2012 | Jewelry
Published by Julia Bennet on January 7th 2012 | Fashion
Published by Paul on July 18th 2012 | Jewelry
Published by John Kennedy on December 19th 2011 | Jewelry
Published by Robert Young on March 13th 2012 | Jewelry
Published by Amberjewelry on December 26th 2011 | Jewelry
Published by Patric Ronald on July 2nd 2012 | Jewelry