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The economy has a great influence when itcomes to consumer behavior. Due to the global recession, businesses across allindustries had to get innovative whether it is the product they sell or thecustomers they target. One of the more resilient industries afterthe economic crisis began is the jewelry industry. Because it is considered aluxury, many people had low expectation on how jewelry businesses will fairwhen the recession took its toll but the industry surprised everyone due to itsstaying power. High end retailers started offeringalternative metal jewelry like titanium, tungsten carbide and stainless steeljewelry 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 marketsin the form of younger people. According to research, many people developbrand loyalty during their teenage years that can last up to adulthood. Becauseof this, targeting the youth as a market can be very rewarding to a jewelrybusiness. Teenagers have control not just to the products that they buy but canalso influence their parents' purchases. As of the moment, alternative metals likestainless steel jewelry have great appeal to the young market. Due to theirlimited spending power, stainless steel jewelry got the attention of youngercustomers because of its affordable price and good quality. Also, jewelryretailers must not forget that it is natural for customers to buy up in timeand tapping the youth as a target market by offering inexpensive products canhave profitable results for years to come. These products introduce thebusiness brand to these customers, who usually tend to buy up as their socialor economic status improves. The resilience of the industry can beconnected to how entrepreneurs have innovated and became flexible on how theydo their business. Not being afraid of exploring other facets of the businessgave jewelers the ability to adapt and survive. Jewelers began offering freshand innovative products in affordable price point and expand their consumermarkets which appeared to be a great strategy to recession-proof theirbusinesses.
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