(New York) The most current insights into the changing consumer are being provided by The Plumb Club with their new research document, “The Plumb Club Industry & Market Insights 2023”. This groundbreaking research, done this year with consumers across the U.S., details consumer expectation on when, where and how they wish to engage with retailers and brands. Further, it gives retailers a look at a variety of elements that a consumer feels are important when purchasing a piece of fine jewelry.
The full research is a multi-faceted document comprised of extensive research into the jewelry category, emerging phenomena and a consumer survey of over 2000 consumers across the US. The study was conducted by The Plumb Club with the assistance of Paola Deluca, The Futurist, and Qualtrics, a renowned survey and analytics firm. It was initiated to celebrate The Plumb Club’s 40th anniversary and to underscore their vision of helping educate retailers to do better business.
Some key findings are:
- 79% of consumers say the look of a retail shop influences their jewelry purchase.
- 78% of consumers say that a salespersons credentials, certificates and/or education about diamonds, gemstones and jewelry is either “important” or “very important” to the purchase decision.
- 55% of consumers feel it is “important” or “very important” a retail jeweler maintain on online presence with updated photography/content and have a social media profile and be involved in the community.
- 71% of consumers say they would be willing to pay more for a retailer’s commitment to sustainability.
- 69% of consumers say they would be willing to pay more for a retailer’s demonstration of diversity and inclusivity.
The consumer survey sampled over 2,000 men and women, from the ages of 25-60 in a variety of markets across the US. Respondents had all attended come 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.
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 firstname.lastname@example.org.