Gems & Jewelry Buying Behavior Survey 2021

Part 2: Survey reveals the pandemic had some positive impact on the jewelry industry

Published

3 years ago

July 13, 2021

INSTORE Staff

IN ONE OF the most comprehensive consumer studies done to date on jewelry related topics, especially during the time of the pandemic, The Plumb Club spearheaded a research document that found that the jewelry category fared better than expected, with many consumers increasing their jewelry purchasing and wear.

Survey Reveals the Pandemic Had Some Positive Impact on the Jewelry Industry

30% of consumers surveyed stated that the pandemic positively impacted their jewelry purchasing (purchased more) as opposed to 21% who said that it impacted their purchasing negatively. 49% said that they remained steady at previous purchasing levels over the time of the pandemic.

Since many stores across the country closed their brick-and-mortar locations for numerous months of 2020, the study also states that 72% of the consumers surveyed say they bought jewelry online and that 39% said that spending more time at home inspired them to buy more jewelry on online platforms.

Survey Reveals the Pandemic Had Some Positive Impact on the Jewelry Industry

With the uptick in remote working and virtual meetings, the research reveals that during the pandemic, 41% of consumers were more tempted to wear jewelry that would be seen on the screen during video meetings and online gatherings.

65% of consumers said they typically wear jewelry at home, and 23% said that they increased their jewelry wear during the pandemic (44% reported no change).

When asked about their preferred pieces to wear, 39% said that they wear rings most often. However, when asked about their purchasing categories online, 62% say that they most often purchase necklaces or earrings.

The survey was a multi-focused study initiated by The Plumb Club, a coalition of 45 best-in-call suppliers to the jewelry and watch industry, with the help of Paola Deluca, The Futurist and Qualitrics. The study was conducted with a sampling of 1,049 men and women, from the ages of 25-60 with a focus on 10 “test markets” across the US. Respondents had all attended some college or higher, had a combined household income of at least $75K/year and claimed to have either purchased jewelry in the past year and/or were intending to purchase jewelry in the upcoming year.

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

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”