Key takeaways
• Consumer preference for colored gemstones is growing, with 65% of customers seeking jewelry with birthstones and a 7% increase in those preferring bright color palettes.
• The Plumb Club’s August podcast, “”The Color Advantage,”” features Adam Bassalali discussing how colored gemstones allow retailers to diversify product assortment and drive individual personalization.
• Colored gemstones help retailers build deeper consumer relationships by utilizing emotional connections and storytelling tools beyond traditional diamond sales.
(NEW YORK) – As consumers increasingly value products that reflect their own individual style, one area provides retailers with seemingly limitless possibilities to meet their customers’ unique preferences – colored gemstones! In the most recent Plumb Club Industry and Market Insights, 65% of customers are seeking out jewelry that contains birthstones. The survey also showed a 7% increase from the previous survey in consumers who prefer bright color palettes. And while sapphire, emerald and ruby still rank at the top of gemstone preference, a plethora of diverse gems and colors are gaining popularity.
The Plumb Club’s August podcast focuses on helping retailers understand the numerous opportunities in the colored gemstone category, which can set them apart and increase sales. The following podcast has now been posted:
“The Color Advantage”
Increasingly, consumers today are looking for individualization and personalization. And while both diamonds and colored gemstones each serve various customer preferences, colored gemstones allow the retailer to expand conversations past simply the diamond category and into areas that allow jewelry to become an extension of a customer’s personality. Adam Bassalali of Lali Jewels points out how colored gemstones allow a customer to express their unique identity and preferences, even in the same piece! Additionally, he speaks about the emotional connection that consumers feel toward certain gems, as well as the symbolism they provide, showcasing engaging storytelling tools at retail. He illustrates how colored gemstones allow retailers to diversify, expand assortment, add value and tell richer, deeper stories that create relevance with customers.
The Plumb Club podcasts, added monthly, provide strategies, knowledge, and immediately actionable steps from industry leaders that help retailers across a variety of business areas. The newest podcasts, as well as previous ones, are available on The Plumb Club website under “Resources”. https://plumbclub.com/resources/plumbclubpodcasts/
About The Plumb Club
The Plumb Club proudly celebrates over 40 years of educating and innovating within the jewelry category, and creating productive connections between jewelry retailers and our world-class manufacturing members. Founded in 1983 by a small group of distinguished manufacturers as a social club, The Plumb Club has evolved into one of the jewelry industry’s leading supplier organizations. Today, The Plumb Club is a unique coalition of leading, responsible and important suppliers spanning all facets of the jewelry, diamond, and watch industries. The purpose of the organization is to connect its members and their customers and help shape the future of the jewelry industry. The Plumb Club’s membership accounts for a significant percentage of the domestic fine jewelry market.
