The amazing thing about diamond jewelry is that it is rarely driven by trends. It is evergreen. No matter what happens in the world, people still buy diamonds. The seemingly never-ending pandemic that hit our planet early this year took its toll on every economy and industry across the globe. The luxury jewelry market, too, bore the brunt of the novel coronavirus.
Here’s looking at the top trends that we have seen so far and what is in store for the near future as an effect of COVID-19.
1. Jewelry sales down by a substantial margin
According to the Jewelry and Silverware Global Market Report 2020, the pandemic and social distancing norms were expected to drive the sales down from $203.3 billion in 2019 to $198.5 billion this year.
Thanks to the pandemic and the nation-wide lockdowns imposed thereafter, there was a significant dip in jewelry sales due to the shutting down or temporary closing down of stores.
2. The road to recovery looks promising
While the jewelry market suffered like most other industry segments, the present and future of this domain look bright. This is partly because like we mentioned above, people haven’t stopped buying diamond jewelry.
Ever since the lockdowns and restrictions were eased, retail stores reopened to an overwhelming response from the public.
3. The move from in-person to online wedding jewelry shopping
The biggest trend that we have seen in the last few months is that eCommerce has established itself as a viable and popular alternative to traditional retail stores. Several jewelry companies put all their eggs in the online basket during the lockdown, investing in quality digital marketing, social media campaigns, email marketing, and the works.
Jewelers will continue to leverage web-driven strategies to market their products and invest in personalized advertising to build trust among the consumers.
4. Does this mean retail stores will become obsolete going forward?
No, that is definitely not happening. While the virtual world offers jewelers and customers a great deal of flexibility and convenience, nothing can replace the in-person shopping experience. However, it is true that the online approach has yielded fantastic returns to those who have managed to do it right.
It also has a host of benefits for the buyers. Online consultation about bridal jewelry has picked up a lot of steam in the recent past since it makes it convenient for both – the consultant and the bride – to discuss options and share ideas, outfits, and reference images before the final call is taken.
5. No matter what happens, people will still get married!
Yes, some weddings and engagements were put on hold or postponed due to the concerns surrounding the spread of the virus. However, we are seeing those couples scampering towards wedding venues, jewelry makers, and other vendors to make it happen now.
Even during the lockdown, there were some who got married by having an intimate wedding celebration.
6. Bridal diamond jewelry trends – subtle, synergistic, and meaningful
Specifically speaking about diamond jewelry for the bride, we have seen is that there is an increased focus on craftsmanship and design. Value-based jewelry has new-found importance in today’s world where everything else seems to be so fickle. We talk about trends and fads a lot when it comes to jewelry, but diamond jewelry is truly a timeless trend.
However, talking about trends within a trend – the modern-day bride prefers subtle, leaner, and minimalistic pieces of jewelry that are in perfect synergy with the bridal gown or ensemble. The grand weddings and extravagant celebrations have been replaced by smaller and more intimate gatherings and this is reflecting in the way the brides wish to deck up, too. Rather than the traditionally extravagant bridal set, today’s brides like to sport classic and delicate diamond jewelry pieces on their big day.
Another interesting trend that is here to stay is that wedding jewelry is looked at from a long-term “use” point of view, i.e., transforming the wedding day jewelry set into individual pieces of jewelry that can be worn on other occasions, too.
7. There is a lot of disposable income at hand – let’s buy some diamond jewelry!
Apart from the fact that engagements and weddings (or preparations, at least) are back in (almost) all their glory, it is also true that people haven’t found a way to spend their hard-earned money during the lockdown. No parties, no events, no vacations, no shopping, no dining out… and all this has led to people having a lot of extra money on their hands.
Diamond jewelry – earrings, necklaces, bracelets, rings – is a great way for people to spend this money because it isn’t just an expense; it is an investment.
So, how to choose the right bridal jewelry set? Well, your journey starts right here at Dazzling Rock – the preferred hub for certified bridal diamond jewelry. Whether you are looking for an affordable wedding ring set or diamond-encrusted sterling silver diamond jewelry for your big day, we have you covered.
Explore our collections now!