Nina's Jewellery
advertisement
Nina's Jewellery
advertisement
Nina's Jewellery
advertisement
Goto your account
Search Stories by: 
and/or
 

News












Unsurprisingly, online purchasers were higher than average among ‘Gen Z’ consumers, responsible for 42 per cent of total sales.
Unsurprisingly, online purchasers were higher than average among ‘Gen Z’ consumers, responsible for 42 per cent of total sales.

Online sales account for quarter of US diamond jewellery market

According to recently published research from the De Beers Group, 25 per cent of all diamond jewellery sales in the US in 2021 were completed online.

Per the Diamond Insight Report, that figure sat at just 14 per cent in 2015. By volume, diamond jewellery sales reached 31 per cent in 2021, compared with 18 per cent in 2015.

De Beers senior vice president of strategy and analytics Esther Oberbeck said retailers must adjust to these new market conditions or risk falling behind.

Esther Oberbeck, De Beers
Esther Oberbeck, De Beers
“The convergence of these trends means the diamond industry must prepare for a future where new, digital-native and socially-conscious consumers expect to engage with brands and retailers in fundamentally different ways to the generations that have come before them.”
Esther Oberbeck, De Beers

“Key trends that are already making their mark on the diamond industry, having been accelerated by the pandemic, new technologies and evolving consumer expectations as Gen Z comes of age,” she said.

"The convergence of these trends means the diamond industry must prepare for a future where new, digital-native and socially-conscious consumers expect to engage with brands and retailers in fundamentally different ways to the generations that have come before them."

Unsurprisingly, online purchasers were higher than average among ‘Gen Z’ consumers, responsible for 42 per cent of total sales.

The research was based on a survey of 18,000 consumers and also found that brand jewellery has significantly improved in market share, accounting for 80 per cent of sales by value in 2021.

More reading
Significant sales jumps for Chow Tai Fook and Luk Fook
LVMH jewellery sales increase by 23 per cent to €7.58 billion
Lab-created diamond sales reaching new heights in US
Another major month of rising sales for Aussie retailers
Major increase in sales for Aussie retailers
June jewellery sales achieve mixed results; need for planning pushed
Jewellers see mixed sales results for May
Strong retail jewellery sales continue in April
Positive signs continue in March for jewellers
February jewellery sales remains strong after the holiday rush
January jewellery sales shows interesting trends

 











SAMS Group Australia
advertisement





Read current issue

login to my account
Username: Password:
Duraflex Group Australia
advertisement
Jeweller Magazine
advertisement
Rapid Casting
advertisement
© 2024 Befindan Media