Gems & Jewelry Buying Behavior Survey 2021

Part 3: Plumb Club research reinforces value of digital media to jewelry industry.

Published

4 years ago

July 18, 2021

INSTORE Staff

IN ONE OF the most comprehensive research documents on the jewelry industry, The Plumb Club Industry & Market Insights 2021 underscores the importance of digital media to today’s consumer. The study reveals how online and social media platforms are key drivers when making purchase decisions and how a consumer utilizes these platforms across computer, tablet and mobile devices when researching jewelry.

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85% of consumers surveyed in this research are active on social media. The most popular platforms are Facebook (93%) and Instagram (73%). Other social media platforms significantly trail these with Twitter at 55%, Pinterest at 46% and TikTok at 31%.

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59% of consumers say they have made purchases through social media. This is a large number considering social media isn’t primarily intended for direct sales.

35% of consumers say that they feel comfortable buying their fine jewelry online and 33% credit retailer websites as a major influencer in jewelry purchasing.

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When asked how they use technology for the purchasing process, 79% research product online and 64% make their jewelry purchases online. When it comes to watches, 54% of surveyed consumers have shopped online.

Underscoring the importance of reputation and quality, 31% of consumers say they leave reviews for products online.

When buying online, 39% say that the most preferred method is a mobile device. 34% use a laptop, while 16% prefer a desktop computer and 12% a tablet — an important reminder that websites need to be intuitive and easily navigated across all devices.

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The findings above were part of an expansive multi-focused study initiated by The Plumb Club, a coalition of 45 best-in-class suppliers to the jewelry and watch industry. The study was conducted in the first half of 2021 with a sampling of 1,049 men and women from ages 25-60 with a focus on 10 test markets across the US. It was done with the help of Paola Deluca, The Futurist and Qualtrics.

Additional information from this expansive research will be shared over the next number of weeks. Any retailer wishing more information on The Plumb Club Industry & Market Insights 2021 should contact a Plumb Club Member. For a full list of The Plumb Club Members visit here or email info@plumbclub.com

Family Legacy, New Chapter: How Wilkerson Turns 89 Years of History Into Future Success

After 89 years of serving the Albany community, Harold Finkle Your Jeweler faced a pivotal decision. For third-generation owner Justin Finkle, the demanding hours of running a small business were taking precious time away from his young family. "After 23 years, I decided this was the time for me," Finkle explains. But closing a business with nearly nine decades of inventory and customer relationships isn't something easily managed alone. Wilkerson's comprehensive approach transformed this challenging transition into a remarkable success story. Their strategic planning handled everything from advertising and social media to inventory management and staffing — elements that would overwhelm most jewelers attempting to navigate a closing sale independently. The results speak volumes. "Wilkerson gave us three different tiers of potential goals," Finkle notes. "We've reached that third tier, that highest goal already, and we still have two weeks left of the sale." The partnership didn't just meet financial objectives—it exceeded them ahead of schedule.