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Survey: Self Purchase – The No. 1 Reason to Buy Jewelry

Most people don’t care about price, but many are willing to spend more on responsible sourcing
diamond jewelry jewelers stores
Credit: Daniel Jedzura / shutterstock.com

A recent survey conducted by The Plumb Club Industry & Market Insights among 1,049 online respondents in the US (aged 25-60, college educated with $75K+ income), reveals some fascinating jewelry shopping trends:

 

The most important factors: “Quality” (31%), “Design” (23%) and “Uniqueness” (17%) are still the most important factors for a consumer looking for jewelry. “Price” came in with just 16% viewing it as the most important factor.

 

Influencers: One-third of participants (33%) named retailer websites as the No. 1 influence, a stunning figure that underscores the value of a retailer’s online presence. “Family and friends” were second highest at 30%, and social media advertising was third at 14%.

 

US luxury jewelry shoppers
Credit: Syda Productions / shutterstock.com

 

Why buy? 48% of consumers were most interested in purchasing jewelry to commemorate a special occasion. 23% said “no reason needed,” while 12% said a personal reward was their prime motivator. According to the survey, “a combined total of 52% not needing an event to purchase jewelry, [which] highlights the growth of the self-purchase category.”

 

When asked to rank “jewelry purchase motivations” in level of importance, self-purchase was No. 1 at 40%, with “special occasion” coming in second at 31%.

 

How much? The average spent on a new jewelry purchase is $1,207. 51% said they would only spend up to $500 on average when purchasing new jewelry, and 26% say they would spend from $1,000 to over $5,000 on a piece of jewelry.

 

Tiffany & Co. jewelry
Credit: Iris Hortman

 

Where do we buy it? 28% of participants said they purchase jewelry online, while the majority (63%) still prefer to purchase in store at an independent, department store or national chain. 25% said they prefer an independent or a local jeweler.

 

Sustainability: Respondents were asked to rank on a scale from 1 to 10 how important it is to them that their jewelry is responsibly sourced, sustainable and ethical. 20% ranked this consideration a 10, and the average ranking was 6.5. 72% said they would be willing to pay more for a piece of jewelry that was sustainably sourced. 26% said they would pay “a great deal” more.

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