(NEW YORK) – Cutting-edge research done this year with consumers across the U.S. details how today’s shoppers search for, and purchase, jewelry and watches online. The survey also probed online budget and consumer opinion on the amount of reliable information available. Further, the study details consumer preferred platforms, as well as features they find useful and what stimulus prompts a sale.
The full research, a multi-faceted document entitled ‘The Plumb Club Industry & Market Insights 2023’, identifies current learning and trends in the jewelry sector. The comprehensive 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 insights from the survey about consumer online habits are:
- 62% of consumers have bought jewelry online and 46% have purchased watches online. 64% state that convenience is what prompts them to shop online versus in a store.
- The average budget for an online purchase is $1,355 and consumers rate “direct from the brand” jewelry and watch websites (31%), online marketplaces (30%) and independent/local jeweler websites (27%), as the top 3 preferred channels on which to browse or buy. 9 out of 10 who have shopped a site with a “try-on” function find it helpful.
- 70% of consumers research jewelry purchases via internet searches and 85% feel there is enough reliable information with which to educate themselves.
- 83% of consumers are active on social media and 40% of those have made purchases from social media platforms. Facebook (89%) and Instagram (76%) are the highest-ranking platforms for activity.
- 80% of consumers who made social media purchases say it was related to an ad they had seen on the platform.
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 for 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, click here or email firstname.lastname@example.org.