De Beers Group’s fourth Diamond Insight ‘Flash’ report looks at how the pandemic is likely to influence key jewellery design trends this gifting season
Diamond jewellery design trends for the upcoming gifting season are expected to be influenced by how consumers are feeling in response to the events of this year and the impact of lockdowns, according to De Beers Group’s fourth Diamond Insight ‘Flash’ Report, published recently.
De Beers Group partnered with leading London-based fashion trends consultancy, Adorn Insight, to review De Beers Group’s consumer research data since the start of the pandemic and overlay with key fashion trends in order to forecast the prevailing themes that jewellers can expect to see for Autumn/Winter 2020 and into the coming year.
Three key trends were identified – craft’s new cool factor, natural beauties and invest in the best – which highlight that the pandemic is likely to influence consumer design preferences in three key areas: enhanced appreciation for craftmanship and bespoke design, a greater desire for designs and materials that reference the natural world, and a preference for investing in timeless pieces.
Each of these trends is already being reflected in new collections from leading jewellery brands and can be expected to increase in prevalence as the upcoming gifting season approaches, according to the report. Said Bruce Cleaver, CEO, De Beers Group: “As we head into what will be a crucial selling season for many diamond jewellery retailers, understanding key design trends during a time of profound change and uncertainty will be important.”
“The pandemic has accelerated some trends that were already underway, such as the desire for craftmanship, authenticity and sustainability, while also generating increased consumer interest in the enduring beauty of the natural world and in classic designs that will stand the test of time. Diamond jewellery retailers will no doubt be interested in considering how these trends can feature in their upcoming collections, marketing and merchandising.”
The report also includes the findings of De Beers Group’s latest consumer research study, completed in late August, which found that consumer confidence in the US was starting to recover compared with the previous month. In the latest research wave, 65 percent of Americans said they were now more inclined to give a significant gift to someone they loved compared with how they felt pre-pandemic, and for those in a relationship this increased to 77 percent.
In addition, 55 percent of consumers said they had gone out shopping or socialising in the past month for the first time since the pandemic began. There was also a significant increase in women saying they felt safe shopping for diamond jewellery in person and a decrease in those saying they felt safest shopping online.
When it came to the most popular types of diamond jewellery that consumers would be willing to invest in, a diamond ring was the most popular choice at 36 percent of respondents, followed by a diamond pendant or necklace at 30 percent and then stud earrings at 22 percent.