Self-Purchase and Quality Key for Jewelry Purchase

Jewelry
24/08/2021 12:48

According to a survey, conducted by the Plumb Club, self-purchase is the most important jewelry purchase motivation amongst college-educated Americans between 25-60, reported InStoreMag. The survey provided vital information on the preferences and motivations of today’s jewelry buyers.

A few of the most important findings:

  • 40% of the respondents stated self-purchases as their number 1 jewelry purchase motivation, with special occasions coming in second at 31%, followed by gifting with 21%.
  • The quality of a jewelry piece is twice as important as its price. While quality ranked number 1 with 31% of the respondents when asked what is important for them when buying new jewelry, price came in fourth with 16%. Design (23%), uniqueness of the piece (17%), brand (8%), and social responsibility/social ethics (4%) were also mentioned.
  • The survey indicates a growing awareness among consumers for socially responsible jewelry purchasing. When asked how important responsible sourcing, sustainability, and ethics are to them when buying jewelry, the average ranking was 6.5, with 20% ranking this consideration a 10.
  • The pandemic had some positive impact on the jewelry industry. 30% said they bought more jewelry due to the pandemic as opposed to 21% who said they bought less. 49% said they remained steady at previous purchasing levels during the pandemic. Even though many stores closed their shops for several months in 2020, 72% of the consumers surveyed say they bought jewelry online and 39% stated that spending more time at home inspired them to buy more jewelry on online platforms.
  • Even though 28% of the participants buy their jewelry online, 63% of the participants still prefer to buy jewelry at an independent or local jeweler (25%), department store (20%), or national chain (18%).