The Plumb Club’s Study Reveals Some Positive Impact of Pandemic on Jewelry Industry
The comprehensive study showcases quantitative consumer data across a variety of topics.
New York – The Plumb Club Industry & Market Insights 2021, a multi-focused study on jewelry related topics was released last week. The research, although noting the injurious effect of the pandemic on the US industry, additionally reveals via consumer research, that there has also been some positive impact for jewelry.
The comprehensive consumer insight section showcases quantitative consumer data across a variety of topics. Pertinent to the pandemic, findings were as follows:
- 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 say that had bought jewelry online and that 39% said that spending more time at home inspired them to buy more jewelry on online platforms.
- 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.
- While 65% of consumers said they typically wear jewelry at home, 67% in total said that there was either no change (44%), or that they increased their jewelry wear (23%) during the pandemic.
- When asked about 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-class 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.