Plumb Club Study Underscores A Bright Future for The Diamond Category
(New York) The Plumb Club’s groundbreaking research underscores continued growth for the diamond and diamond bridal jewelry categories. Both will continue to be a popular and preeminent category for most retail jewelers. According to Zippia.com, there were over 2.4 million marriages in the US during 2022 and the number of weddings projected for 2023 is 2.2 million. This means continued strength in the diamond bridal category. Additionally, there has been significant growth in the self-purchasing market with a strong preference for diamonds.
The survey shows an average spend of $5,373 is spent a bridal/engagement piece, while the average spend on a non-bridal jewelry piece is $1,297.
Further, the survey echoes a study by DeBeers Group, stating the most popular piece of diamond jewelry customers is buying is a diamond ring, followed by a diamond pendant or necklace. Survey results show a diamond ring with gemstone accents was most preferred by 45% of consumers. 42% of consumers said they preferred a diamond necklace with gemstone accents.
As for the motivating factors of a diamond purchase, retailers should know that 72% of consumers feel laboratory reports or verified certificates were important to them when buying jewelry. However, when buying diamonds, that number jumps to 91%, with 41% saying laboratory reports of identification and verification are most important.
72% of consumers surveyed also stated it was either “very important” or “important” for the jewelry salesperson to have credentials, certificates, or education about diamonds, gemstones, and jewelry.
Further valuable information from this groundbreaking research will be made available in the coming weeks. Retailers wishing more information on ‘The Plumb Club Industry and Market Insights 2023’ should contact a Plumb Club Member prior to the JCK Show, or within The Plumb Club Pavilion at JCK Las Vegas. For a full listing of Plumb Club Members, visit https://plumbclub.com/members/ or email info@plumbclub.com.
