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Jewelry Market

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Running head: THE CURRENT SITUATION DRAFT The Current Situation Draft Name Institutional Affiliation 1 THE CURRENT SITUATION DRAFT 2 The Current Situation Draft The number of people buying jewelry in America has been on the increase over the years. The global sales being recorded on an annual basis reveal that the growth of the industry has been registered between five to six percent (“multifaceted future: The jewelry industry in 2020,”n.d.). The growth in the industry has brought with it various trends that the stakeholders are working on addressing. In order to continue making profits in the jewelry market, the players involved must do whatever it takes to meet the expectations of the consumers with their appetite being on the increase. Stakeholders who fail to recognize these trends and respond to them risk losing their customers to other competitors who recognize the emerging trends and embrace them as opportunities (“multifaceted future: The jewelry industry in 2020,”n.d.). One of the major trends that are being witnessed in the current market is the shift in consumer appetite. Most consumers are opting to buy branded jewelry over other forms of jewelry. This is ...
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