The Future of Bling 💍

GREG KAHN
AUG 19, 2023

I realized something the other day about the evolution of jewelry and how closely it matches the pace and perspective of technological change.

It’s not about the growth of the luxury marketplace, though that is an aspect of it. It’s not just about the Maker Economy, where craftspeople became e-commerce entrepreneurs a decade ago thanks to platforms like Etsy. Still, that’s definitely a big part of the change taking place.

The technological transformation of jewelry speaks to much larger ideas of personalization. There’s something about taking materials and turning them into objects of desire. It could be made from precious metals, fine stones and gems, scratch-proof glass. Or it could be a variety of plastic or other synthetics. 

No matter what, the creating, the collecting, the styling, branding and marketing of chains, rings, necklaces, bracelets, along with the reasons we wear it (or are averse to it) can serve as a guide to the culture being shaped around and beyond us.  

We are what we wear

The jewelry and the technology we wear are a part of consumers’ public face. Both are crafted in certain ways to help construct our personal brands. 

That’s always been the draw of jewelry. But as personalization becomes more embedded in just about every technological function we use, including our digital devices and the media we consume, it’s natural that jewelry and tech will become more entwined than ever. That’s especially true given wearables’ function as both fashionable expression and a personal health tech tool. 

I’m not particularly obsessed with “bling.” My everyday jewelry pieces are limited to two fairly mundane items, not at all flashy or ostentatious at all, an Apple Watch and my wedding band. I usually put them on without particular consideration. 

But the other day, as I put on my ring, I was struck by a news story about India becoming the largest smartwatch market in the world.

In the third quarter of 2022, the South Asian nation saw smartwatch sales rise 167% year-on-year growth, according to market research firm Counterpoint. India also recently surpassed the U.S. and China per IDC. A recent report by the firm shows the country saw a 37.2% year-on-year growth in the overall wearable market, with 32.8 million wearables shipped in the second quarter of 2023. India’s smartwatch shipments almost doubled to 12.8 million in the quarter, whereas earbuds saw a 15.2% year-on-year growth.

India: a battleground in the fusion of jewelry and tech

As I’ve noted previously, there is a tremendous amount of technological and related investment advancement happening outside the US…Asia, the Middle East, and Africa are pointing to new directions many Americans haven’t considered yet. It’s crucial we pay attention. 

Take smart rings. Consumers haven’t taken to these wearables with the same avidity that smartwatches have captured. But as smart rings develop wider technological applications, particularly in the area of health tech, you’re likely to see a revolution in that market segment.

So it’s a good time for emerging players to stake their claims. Again, India offers a glimpse of future marketing efforts involving the fusion of jewelry and tech.

For example, the smart ring market in the US is primarily represented by startups such as Oura. In contrast, India has Ultrahuman and Pi Ring vying for the lead in that space. Those two are beginning to contend with an incursion by BoAt and Noise, as they enter the smart ring market as part of a broader challenge to the wearables marketed by Apple, Samsung and Huawei.

Throw your smart device into the ring

As I ponder the future of jewelry, data, and personalization, I think about the accessory choices I made in the past.

About a decade ago, I swapped out my Swiss timepieces for an Apple Watch.

At the moment, consumers are torn: they want to track their fitness, their heart rates, their blood oxygen levels. They want their personal devices to alert them if they become pre-diabetic. They want automatic, geolocation-based emergency assistance if they’re injured. 

A February 2023 study in Morning Consult found that the use of health apps has grown by 6 percentage points since December 2018, while wearables usage has grown by 8 points, per Morning Consult data.

At the moment, the main impediments to higher growth for health apps and wearables is price, followed by the general digital concerns about data and privacy issues.

The past decade has been remarkable in terms of the computing power that fits around our wrists and, now, our fingers. I believe the next five years will demonstrate the growing strength of those trendlines.  

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Greg Kahn 

GK Digital Ventures

Greg Kahn is a catalytic force in the technology, media and entertainment industries, renowned for connecting innovators with investors, growing brands and driving billions of dollars in transactional deals. Learn More >