Jewelry sales trends during COVID-19

Shopping behavior during this global pandemic is an interesting thing to observe. Obviously, there is a surge in demand for sports, leisure and household goods, but the number of people buying high-end jewelry has obviously exceeded expectations. The mainstream media recently reported that the sales of fine jewelry increased by 35% over the same period last year, and some jewelry brands also shared some anecdotal evidence that in the months when tens of millions of Americans filed for unemployment, jewelry sales far exceeded expectations.

A Direct-to-consumer high-end jeweller tells us that in the past few months, excluding Mother’s Day and graduation ceremonies, gift purchases have increased by 35%, especially the colorful rainbow jewelry, where sales have increased by 40%.  At the same time, another jeweller who focuses on smaller everyday styles said that the sales of “post-pandemic” are higher than the holiday shopping season, and its website has more new users after the pandemic than in the previous three months. Up 35%. The brand also regularly releases vintage jewelry, many of which are sold out within 48 hours, even during the pandemic.

In April of this year, some media also reported that some retailers said that jewelry sales remained strong. During the global health crisis, “boring rich people” bought bracelets worth $500,000 online. But why?

The Sporty and Rich aesthetic, as one might call it — think: sweats dressed up with an expensive designer coat, handbag and fine jewelry — was gaining steam even before the coronavirus, but that’s not necessarily the only reason people are shopping for jewelry in a time when we can’t leave the house or socialize in person.

In our research, we found that high-end jewelry represents a category of “investment” that can maintain long-term value, so people will buy it even when the economy is uncertain. And shoppers may turn to her bright, cheerful designs to boost mood.

We’ve noticed an increase in our happier, brighter pieces,Rainbow styles are extremely popular as well as hearts and flowers — even more than usual.

Meanwhile, we believes her timeless, pared back jewelry feels like a safe purchase right now. We believe that our sales have seen a major uptick because of our classic, year round style, Consumers are seeing jewelry purchases as an investment for today and many years from now.

Whatever the reason, it sounds like a number of fine jewelry brands — particularly those who sell directly to consumers online and are not outrageously expensive — will be equipped to weather a storm that has already decimated a number of other brands and retailers.

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