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Jewellery Market: Latest Marketing Trends.

Conference Paper · November 2020

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SUMMARY OF FINDINGS AND SUGGESTIONS

The factors Cost Reduction, Speedy Process, Accessibility and Convenience are directly proportional towards customer retention
with e-tail sector and the factor Communication and Relationship is inversely proportional towards customer retention with e-tail
JEWELLERY MARKET:
sector which cannot be taken towards decision making in future period of time.
LATEST MARKETING TRENDS
CONCLUSION Anupam Rana,
Research Scholar, Indus University, Ahmedabad.
In this literature had discussed the opportunities available in today technology and methods in digital marketing. This is not
complete a small information is portrayed. By combining these methods we can create an out of box concept, which will be tailor R. K. Singh,
made solution for a particular organization or industry. The above information on this literature is to make anyone understand the Registrar, Indus University, Ahmedabad.
basics of digital marketing with methods and application. As the digital world is sky rocketing and common man of any industry
is accessing the Internet and still growing with a great pace. There still exists a huge place to run around in the digital world. Himanshu Chauhan,
Today, instead of product and promotion the idea, method and concept of delivering the product to customers in the form of Assistant Professor, Institute of Management, Nirma University, Ahmedabad.
advertisement or promotion is the key memory hook to client.

REFERENCES
Fournier, Susan. (1998). Consumers and Their Brands: Developing Relationship Theory in Consumer Research. Journal of
ABSTRACT
Consumer Research 24 (4): 343-73. This paper attempts to understand the latest marketing The latest marketing trends will be the game-changer for the
Damanpour, F. and Damanpour, J.A. (2001). E-business e-commerce evolution: perspective and strategy. Managerial Finance, trends in the jewellery market. In recent times social-media, global and domestic jewellery market soon. This study would
27(7) pp.16-33. technology, and data-centric trends have a great influence help to explore the marketing research in gems and jewellery
on contemporary marketing. A huge consumer base of the industry in the area of content marketing & creative storytelling,
Hsiu Ju Rebecca Yen, Kevin P. Gwinner, (2003). “Internet retail customer loyalty: the mediating role of relational benefits”,
jewellery industry makes it viable for manufacturers to satisfy crowdsourcing & co-creation of design, neuromarketing,
International Journal of Service Industry Management, Vol. 14 Issue: 5, pp.483-500.
to a large market and obtain profits. It is also important for consumer experience (CX), omnichannel marketing,
Opdeakker, R. (2006). Advantages and Disadvantage of Four Interview Techniques in Quantitative Research. Qualitative Social the marketing team to know which trend has come to settle applications of internet of the things (IoT), creative marketing
Research Journal, 7 (4), pp.63-75. and which one will not last long while deciding marketing and user experience, augmented reality & virtual reality,
Tolulope Olaide Folarin et.al., (2015). “Effects of Technology On Customer Retention: A study on Tesco Malaysia” International strategies. artificial intelligence, retail environment and E-commerce,
Journal of Accounting & Business Management, Vol. 3 (No.1), Pp 16-37. along with social media as an important marketing tool in
The research methodology of this paper comprises a thorough
the edge of internet. This research also aims to explore the
Lee, H.J., Lyu, J, (2016). “Personal values as determinants of intentions to use self-service technology in retailing”, Computers in study of secondary sources of data. Research papers and
possible suggestions to the jewellery retailers and marketers
Human Behavior, Vol. 60, pp. 322 -332. articles mainly from reputed journals, marketing books, trend
about implementing the latest marketing trends apart from
forecast magazines, and e-resources of related fields were
Koklic, Mateja Kos, Monika Kukar-Kinney, and Spela Vegelj. (2017). An investigation of customer satisfaction with low-cost and full- relationship marketing.
reviewed to gain insight and conceptual understanding of
service airline companies. Journal of Business Research 80: 188–96. the topic. Research also includes the author’s personal views, Keywords : Jewellery market, Marketing trends, Digital &
interview, and discussion with designers, bloggers, jewellers, Social media, Big data, Artificial intelligence, Consumer
start-up founders and consultants as primary sources. experience.

INTRODUCTION
The most fundamental concept of core marketing is that of human desires. Marketing is defined as “A social and managerial
process by which individuals and groups obtain what they need and want through creating and exchanging products and value
with others” (Kotler, Armstrong, Saunders, and Wong, 1999). Marketing has often been defined as “the art of selling products.”
Marketing professionals are participating in marketing ten types of things: goods, services, organizations, experiences, events,
persons, places, properties, information, and ideas (Kotler, Management, A frame work for Marketing, 2001).
The sellers’ four Ps Product, Price, Place, Promotion correspond to the customers’ four Cs Customer solution, Customer cost,
Convenience, Communication respectively (Lauterborn, 1990). Daniel lawman has explained in the blog that Winning companies
are generally meeting consumer needs economically and appropriately with very effective communication. Visibility is one
characteristic of marketing that won’t change irrespective of the year. Marketing earlier and afterwards a digital transformation
revolves around how consumers view your business. The larger the business, the more assorted the consumer base. While data
is making it easier to locate potential customers, it’s a huge undertaking to understand useful information from the volume of data
available (Daniel, 2016).

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MARKETING TRENDS OBJECTIVES

A market trend is an inclination of a market to shift in a specified direction over some time. The time frames can vary, from being The objectives of this paper are:
a short term to the long term. Companies try to apprehend the trend of a market, before diving deep into the market with an 1. To understand the latest marketing trends.
innovative product or before employing a new marketing strategy.
2. To discuss the current marketing trends in the Jewellery market (global and domestic).
A white paper series “The Future of Marketing” compiled by Trendwatcher and futurist Richard van Hooijdonk explained ten
3. To discuss suggestions for the jewellery retailers, jewellers and jewellery marketers about implementing the latest marketing
trends of marketing as per following:
trends.
1. Crowdsourcing

RESEARCH METHODOLOGY
2. Helper brands
3. The internet of things
4. Artificial intelligence The research methodology of this paper mainly comprises a thorough study of secondary sources of data. Research papers
5. Extreme personalization and articles mainly from reputed journals, marketing books, trend forecast magazines, and e-resources of related fields were
reviewed to gain insight and conceptual understanding of the topic. Research also includes the author’s personal views, interview,
6. Omnichannel
and discussion with designers, bloggers, jewellers, start-up founders and consultants as primary sources.
7. Virtual & Augmented reality (AR&VR)

LITERATURE REVIEW
8. Millennial-centered marketing
9. B2B marketing
10. Influencer marketing The market is rapidly changing and new products must be are adopting more human qualities to attract customers. It
developed and introduce to the market much faster than ever. requires unlocking consumers’ latent anxieties and desires
These trends pave the way for inevitable disruption, and the dominant brands of the future are already adopting these new In his essay, Ronald E. Goldsmith has described 4 big trends through social listening, netnography (understanding of social
approaches (Hooijdonk, 2018). Globalization, Technology, Personalization, and Integration interaction in contemporary digital communications contexts)
In their research on “Data, Technology and Social Media: Their Invasive Role in Contemporary Marketing” (K. Prakash Vel, Collins influencing 3 areas in marketing, Marketing Research, and empathic research. The brand should be physically eye-
Agyapong Brobbey, Abdalrhman Salih, Hafsa Jaheer, 2015) classified marketing trends as per follows: Marketing Management and Marketing theory (Goldsmith, catching, intellectually convincing, socially engaging and
2004). emotionally pleasing with strong personability (sociable) and
1. Social media-centric trends: Crowd-sourcing, Social media marketing, Social selling, Content marketing.
morality (Kotler, Kartajaya, and Setiawan, Marketing 4.0 moving
Max Dawes has written in the article “3 Augmented reality
2. Technology centric trends: Avatars, Phygital marketing, Sensors marketing, Search engine optimization, Permission marketing, from traditional to digital, 2018).
trends that will define marketing in 2019” that companies
Wearable gadgets, Digital wallet, Internet of the things.
who want to win the market have to pay attention to 3 major Colin strong explained in the book “Humanizing Big Data
3. Data-centric trends: Cloud computing, Big data. developments, Marketing at the meeting of data, social science & consumer
insight” that Big data is less about trying to ‘predict & control’
Marketers have paid a massive price for their lack of ability to interpret which trend has come to settle and which one will not last 1. Better storytelling becomes even more important.
and more about ‘measure & react’ strategies. It also emphasizes
long (K. Prakash Vel, 2015). According to (Decker, 2019) Marketing trends allows companies to, 2. Mobile-Web Augmented reality (AR) will become more understanding the consumer experience and consumers’ best
1. Keep up with the way consumers shop and research products and services. common. interest while using their personal data. Big data needs to get
3. There will be a mainstream momentum for Mixed Reality better at leveraging three areas like social science, consumer
2. Stay connected with changes in consumer behaviour and priorities.
(MR). insight and data analytics (Colin, 2015).
3. Ensure the company is ahead of the curve in terms of knowing who is the target audience and what they want from your
All of these trends indicate an exciting and new key direction Consumer-neuroscience and neuromarketing are the
business.
for AR (Dawes, 2019). emerging fields that make use of human brain research in a
4. Listen and respond to changes in the market to help save money. managerial context. EEG, fMRI, and MEG are the technology
R. Yazdanifard has explained in “The review of content used in the field of neuromarketing to study consumer
5. Stay relevant in the target market place and among competitors. marketing as a new trend in marketing practices” that content preferences, buying behavior and decision-making process.
marketing is all about updating and persuading potential Neuromarketing is associated to have a high influence on
JEWELLERY MARKET
consumers with concrete content to increase knowledge consumer behavior, advertising, pricing, product distribution,
or change their opinion about the brand. In the digital era, branding, new product development, product design,
consumers become more knowledgeable, well informed and communication and decision making as marketing inputs
The jewellery markets are classified based on type, assortment, platform, branding, metals, and gender. According to the India smarter demanding more effective and personalized content to
brand equity foundation, India is the biggest consumer of gold in the world. Growing middle-class population and escalating pay (Alexandra, 2013).
make buying decisions. Better content can inspire consumers
levels are the key drivers for the demand for gold and other jewellery in India. Gold requirement in India rose 11 percent year-on- to purchase goods or services, convert them into reliable Customer experience is evolving as a new-age differentiator
year to 760.40 tonnes during January-December 2018. In addition, the Government has permitted 100 percent Foreign Direct customers and have them extend the message to others (Wong and it transcends all related facets of customer satisfaction,
Investment (FDI) in the sector under the automatic route (IBEF, 2019). and Yazdanifard, 2015). As per the article in CRM Trends and service quality, customer relationship, etc. and much more
As published in (Market Research Report, 2019) the global jewellery market size was valued at USD 278.5 billion in 2018 and News Analysis, Research firm Gartner predicts that by 2022, profound phenomenon (Bhandari, 2016) A chatbot (talkbot,
is anticipated to witness significant growth over the forecast period. Increasing throwaway income and novel jewellery designs content writers will make more than 30 percent of their digital chatterbot, communicating agent, Artificial conversational
offered by manufacturers are expected to drive the demand for jewellery over the forecast period. A huge customer base of the content with the help of Artificial Intelligence (AI) and also will thing) is a computer program which performs chat in natural
jewellery industry makes it possible for manufacturers to supply to a large market and gain profits. be a rising demand for conversational experiences with the languages via audio or written method, recognizes the intent
companies using voice and video technologies (Del, 2019). of the user and sends a response based on business policies
and data of the company (Kaczorowska-Spychalska, 2019). It’s
Philip Kotler, Hermawan Kartajaya and Iwan Setiawan a human to machine interaction. Siri, Google Home, Alexa are
summarize in their book “Marketing 4.0 moving from traditional the few examples of chatbots popular among consumers.
to digital” that in a human-centric marketing era, brands

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Figure 1: Chatbots
DISCUSSION & SUGGESTIONS
After reviewing the literature authors found that, Latest marketing trends are mostly social media-centric, technology-centric and
data-centric. These trends will be Influencing the global and domestic jewellery market. Millennials are following social media
(Instagram, Facebook, WhatsApp, etc.) stories, reading the online content on blogs and Twitter, watching videos on YouTube and
other online streaming platforms, which provides jewellery industry a big-time opportunity to promote their products and brands
through said medium.

Figure 2: Search for fine jewellery by millennials and Gen Z

Source: https://encrypted-tbn0.gstatic.com/images
q=tbn%3AANd9GcQ657ETWW04adWC1kOhhINIpDEgOA0k08K6oacVzoYoSF_yOehJ

As mention in Fig-2 how young consumers search or purchase the jewellery on the internet, social media and retail store. Gen Z
and younger millennials look more at the social media for the inspiration compare to older millennials.
Source: https://i.pinimg.com/564x/35/b1/96/35b196f749a167d9a3dbc83d91d91adb.jpg Talking about the social media, hashtags and shares have changed the way we purchase, sell and wear jewellery. It has
undoubtedly triggered seismic shifts inside the world of fashion and jewellery from the rise of influencers to the insertion of
Fig-1 shows that by the end of the year 2020, 85% of consumer interaction would be managed without human and 40% of ‘see now wear now’ collections (Royce-Greensill, 2018). Consumers believe more in the f-factor (friends, families, Facebook
mobile interactions will be managed by smart agents. chatterbots becoming a popular medium of communication and interaction friends, followers on Twitter) than in marketing communications. Customers prefers to asks questions to strangers, check reviews
between consumers and brands. on social media for assistance and believe it more than advertisements and expert opinions (Kotler, Kartajaya, and Setiawan,
Expected Trends for 2020 state that “ The personalization of a consumer’s journey is more available than ever before, and brands Marketing 4.0 moving from traditional to digital, 2018).
in increasingly amped up their consumer experience with the inclusion of social media and all the available insights it provides” Let’s take an example of Quirksmith, it is handcrafted silver jewellery online start up by Divya and Pragya. They have started
(Dailey, 2019). promoting their jewellery through Instagram handle and at present, they have 91.9k followers (Data of the followers taken from the
Millennials have grown up in the era of digitalization and globalization, are influenced by the internet and their friends while Instagram page of Quirksmith). They are creating content about multi-talented and multi-facetted women of India and captured
making a purchase decision. Leading brands communicate with them through bloggers, social media, videos, and influential their mood through different stories and videos also representing their latest jewellery collections, which appeals millennials a
celebrities. The rule of “storytelling” is one of the key approaches in digital marketing, and can be seen very often in video lot. Content marketing has a high dependency on social media through which company can provide information about brand,
marketing tactics, social media, events and public exhibitions, which seek to interact with the public and show its history (Fabiola, products and also encourage the consumers with different creative stories and concepts. Retailers have started hiring social
Romo, García-Medina, and Romero, 2017). media managers to manage their profile on internet-based social media platforms.

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Figure 3: Statistics of Instagram users In world-famous jewellery trade shows like Hongkong jewellery show, JCK las Vegas, Basal world and India International Jewellery
Show(IIJS)-2019 many jewellery retailers have installed AR & VR enabled screens and kiosk in their stalls and attracted many
consumers and Buyers.
Virtual influencer (virtual celebrity) Lil Miquela is a virtual character (Avatar) developed through Artificial intelligence and launched
via social media. Miquela has 1.6 million followers on Instagram and she has done product endorsement for the world-famous
luxury brands like Prada and Calvin Klein. Lil Miquela also owns labels like LilMiquela Recs and Brud Records which creates
Music. Noonoouri and Janky are other virtual influencers having thousands of followers. Multinational luxury brands are hiring
virtual influencer to endorse their brands and products. According to Hyper Auditor (fig-4), “Virtual Influencers have almost three
times more engagement than real influencers. That means that followers are more engaged with virtual influencers content”
(Huchinson, 2019).

Figure 4: Comparison between the Influencers

Source: https://www.socialmediatoday.com/user_media/diveimage/virtual_influencers2.png
Source : https://i.pinimg.com/474x/e0/87/d4/e087d47dc32efd8207c97178ed238270.jpg In the near future, we will find many avatars to influence the consumers including jewellery buyers as companies are preferring
virtual influencer over real-life influencers (celebrities).
Fig-3 explains that 62% of users on Instagram find things they want in real life, while 82% of users clicks Instagram ads. Indian
jewellery retailers like Kalyan jewellers has 158k, Malabar gold has 229k, Tanishq has 591k and PCJ has 111k followers on Instagram Figure 5: Influencer marketing
through which they are attracting consumers by posting photos, videos, model shoots, contents, campaigns and exciting offers.
International jewellery brands like Cartier have 9.6M, Tiffany & Co. have 8M, Harry Winston have 1.1M followers which is a new-
age content marketing (storytelling) & social media marketing trend. Data of the followers taken from the Instagram pages of
companies mentioned.
Another marketing trend “Crowd-sourcing” means inviting out of the box ideas about the products and brands from the people
of same or different areas and interest through competition or online projects which bring freshness and insight to brands.
Crowdsourcing concept is best suitable for the jewellery industry where they can announce a competition for different jewellery
and visual merchandising ideas. After the submission of design and ideas, winners are announced and all the IPR transfer to the
sponsoring industry after paying the declared amount to winners.
Zenith Optimedia gave a new term “The social cooperative” in their trend report 2038 for the crowdsourcing and explained
that brands will move away from traditional models and will adopt collaborative approaches, where they work with customer
communities for mutual benefit (Optimedia, 2013). Courtney McColgan has started shopbevel.com which helps jewellery designers
to submit their work online, then thousands of online shoppers (community) votes for the design and shop bevel produces that
jewellery. Canadian company MEJURI has started crowdsourcing fine jewellery in Toronto. Online jewellery company caratlane.
com and India’s famous brand Tanishq are the examples of the industry started crowdsourcing concept to get fresh ideas and
concept in jewellery design and product development through National level design competitions. Nvisage, My expression & Mia
expression - 2 are crowdsourcing campaigns by Tanishq. It’s a concept of co-creation of design and beneficial to the consumers
and industry.
Retailers have a lot to acquire from Augmented reality & Virtual reality. It improves customer engagement, provides a personalized
experience to consumer, increases consumer satisfaction, enables new marketing methods and facilitate employee training Source: https://i.insider.com/5da09eb5cc4a0a3d73273fb3?width=600&format=jpeg&auto=webp
(Joshi, 2019). AR & VR are the latest concepts adopted by jewellery marketing professionals globally. PNG jewellers, Farah khan We can observe from Fig-5 that, 79% of brands are using Instagram platform for influencer marketing campaigns and by the year
fine jewellery, Amrapali, Tanishq, Vasupati jewellers are using augmented reality techniques to gives customers complete access 2022 brands are set to spend $15 billion on influencer marketing.
to their inventory (Jewellery collection). In AR technology, mobile screens or tablet screens are pre-installed with the software in
which customers can try any jewellery from the collection, clicked photographs and get expert advice from friends, relatives or
fashion bloggers through the internet. Fashion tech start-up StyleDotMe has launched AR tech platform for the jewellery called
mirrAR in the Indian market.

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The Internet of Things (IoT) allows customer’s greater engagement and a better perception of products or services. Company Jewellery retailers can also use Neuromarketing technology through EEG(electroencephalogram) and Eye- tracking devices to
uses the data gathered from mobile devices and wearables to collect details about their consumers’ behaviour and preferences, check consumer buying behaviour and like-dislike about a particular design or style of jewellery.
shifting their business models from presumption to real-time analytics. Jewellers can send the best offers on jewellery collections Omnichannel is the marketing concept where every sales channel and touchpoint like online, offline, telephonic, chatbots, etc.
to their consumers when they are in a showroom via mobile or any other connected devices like Beacons (it employs Bluetooth comes together using innovative technology and Big data to enhance customer experience and acquire a consumer to purchase
low-energy “BLE” wireless technology to identify the location of shoppers in stores and to convey messages, suggestions and more (Fig -8).
exciting offers to their mobile devices), Robot assistant and Facial recognition(through sensors and camera installed in store to
know the mood of consumer). IoT market forecast 2017-2025 explained that America, Europe and Asia Pacific will be the major Figure 8: Omnichannel marketing touchpoints
market for the IoT and consumer service and smart appliances will be the major portion of IoT applications by the year 2025 (fig-6).

GLOBAL INTERNET OF THINGS (loT) MARKET FORECAST 2017-2025

Figure 6: IoT market forecast

Source: https://encrypted-tbn0.gstatic.com/images?q=tbn%3AANd9GcRVdbzOUQcF3RBibHg
qLzATDciMpsbdxoE16znxYlprwuu4E3i

The concept of omnichannel considers all the generations of consumers. Bluestone.com an Indian jewellery online retailer has
successfully implemented the omnichannel marketing concept by starting brick and mortar retail stores. As per the report on
fashionnetwork.com Indian jewellery brand, Tanishq is going to launch a dedicated e-commerce store to begin the omnichannel
journey.
Apart from the digital and virtual world, physical jewellery retail stores are also evolving, not dying which makes in-store consumer
Source: https://www.inkwoodresearch.com/wp-content/uploads/edd/2019/04/GLOBAL-INTERNET-OF-THINGS-IoT- experience a crucial tool for the marketing. In-store celebrity endorsement, curated seats, installed touch screen to help sales
MARKET-FORECAST-2017-2025-01-1024x683.jpg staff to illustrate concept, hosting panel discussion with designers and trend forecasters, use of 3-D printing technology to give
In the edge of technological advancement, neuromarketing would play a crucial role to know the consumer choices. As per the a rapid prototype to clients, on store jewellery and gemstone testing facilities, on the spot repairing through laser technology,
forecast, neuromarketing technology market is estimated to grow with compound annual growth rate (CAGR) of 12% by the year latest interior designing of store, consumer awareness workshops about quality and services of fashion styling provides great
2023 which would be $100 million (Fig-7). experience to the customers.
Jewellery tourism is a new concept which involves viewing jewellery as an experience in the context of the country’s culture. The
Neuromarketing Technology Market 2018 concept of jewellery tourism is based on the concept of demand and supply of jewellery with the triggering factors of free-flowing
Figure 7: Neuromarketing technology market consumer traffic via tourists and tourism generating revenue by the proper channeling of incentives to purchase available local
and indigenous jewellery in the countries being visited the main purpose is to increase jewellery sales through a jewellery tourism
experience (Caleekal, 2014). Jewellery designer and fashion blogger Preeta Agarwal has started Preeta Agarwal workroom,
which is the jewellery tourism venture in India and has collaborated with the prestigious jewellers and artisans across the Globe
(As per author’s discussion with Ms. Preeta Agarwal).

LIMITATIONS
The limitations of this study are that due to a time constraint only selected sources of literature could be reviewed for understanding
the marketing trends. Further, no empirical work has been done as a part of the research.

Source: https://dqr1c0kunih5r.cloudfront.net/Uploaded/2018/2/20/7ccf9e335dc7403995334ce979bc09f1.jpg

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CONCLUSION
Rising middle-class population, increasing throwaway income and novel jewellery design delivered by jewellers are predicted
to boost the demand for jewellery. Social Media, technology and data-centric trends have a great influence on contemporary
ADVANCES IN CONSUMERS ADOPTION
marketing.
The jewellery brand should be physically eye-catching, intellectually convincing, socially engaging and emotionally pleasing
OF ECO-INNOVATION
with strong personability and morality. Through content marketing jewellery retailers can provide information about a brand with
creative stories, crowdsourcing and cocreation of design are beneficial to consumers and industry while neuromarketing can Jayshree Jaiswal,
check the like-dislike of the consumer about the jewellery design. Research Scholar, Institute of Management, Nirma University, Ahmedabad.
Consumer experience, omnichannel marketing, internet of the things, augmented and virtual reality will be the game changer
marketing trends in global and domestic jewellery market in the near future. Jewellery tourism will open new areas of consumer
Jayesh Aagja,
experience and marketing. Jewellers across the globe have to understand the latest marketing trends before deciding any Associate Professor, Institute of Management, Nirma University, Ahmedabad.
marketing strategies.

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marketing-trends. Kotler, P., Armstrong, G., Saunders, J., & Wong, V. (1999). needed to tackle these issues and consumers need to exhibit supplier to work towards its sustainability initiatives (Haws et al.
Principles of Marketing. New Jersey, US: Prentice Hall Inc. behaviour change (McCormick and Kautto, 2013) to balance 2014). This shows that companies from diverse sectors have
Del, R. S. (2019, March). Insight. Retrieved from www.
Kotler, P., Kartajaya, H., & Setiawan, I. (2018). Marketing 4.0 the supply side initiatives taken by firms (Golembiewski et al., now realised the need of environmental sustainable initiatives
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moving from traditional to digital. New Jersey: John Wiley & 2015). Green/eco-friendly products are widely available now and started to work towards it. A study reported that savings of
Fabiola, Z., Romo, G., García-Medina, I., & Romero, N. P. (2017, Sons Inc. providing consumers the ways to express their green attitude $3.7 billion could be done from the green initiatives from 190
November). Storytelling and Social Networking as Tools and behaviour. These green products are often called as of Fortune 500 companies (Ceres, 2017). However this supply
for Digital and Mobile Marketing of Luxury Fashion Brands. Lauterborn, R. (1990, october 01). “New Marketing Litany: Four
Ps Pases; C-Words take over”. “Advertising Age”. innovation because of their unique feature of lowering the side initiatives at a macro level needs to be balanced by the
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11, 137-149. Optimedia, Z. (2013). 2038 - Six trends for next 25 years. and preferred due to its capability to result in cost saving There are evidences that suggest that eco-innovation at
Goldsmith, R. E. (2004, Fall). Current and future trends in Zzenith Optimedia. For example, a LED light bulb not only has environment but the micro-level by the consumers needs to be promoted by
marketing and their implications for the discipline. Journal of Royce-Greensill, S. (2018, January 31). IN DETAIL. Retrieved also economic value in its lifecycle (Albino et al., 2009). The gaining insights into their behaviour and understanding of
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08, 2019, from www.grandviewresearch.com: https://www. Wong, A., & Yazdanifard, R. (2015, september). The review domains like sharing economy, resource conservation, circular et al., 2011; Casaló and Escario, 2016; Otto and Kaiser, 2014;
grandviewresearch.com/industry-analysis/jewelry-market. of content marketing as a new trend in marketing practices. economy, etc. (Frame and Newton, 2007). Thus eco-innovation Fischer, Böhme, and Geiger 2017; Muralidharan and Xue,
international journal of management, accounting and strategies by the firms if adopted by the consumers have the 2016). Hence understanding the determinants of consumer
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reduce harmful environmental crisis. products. These insights will be helpful for the firms too for

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