Surveys

Study: Here’s How Many Have Been Shopping for Jewelry, Watches

SurveysMar 11, 2021

Study: Here’s How Many Have Been Shopping for Jewelry, Watches

Provoke Insights also found out which luxury brands are top-of-mind for consumers.

Rolex was among the brands leading the luxury category when it came to being top of mind among consumers recently.
New York—The past year has changed shopping habits dramatically amid the accelerated adoption of technology.

It’s vital for brands to understand these new habits and trends to know how they impact their industries, and where they stand with consumers.

To gain a better understanding of the consumer mindset, market research firm Provoke Insights recently conducted brand equity and trends research across 19 industries, including jewelry and watches. 

Between Jan. 18 and Feb. 3, Provoke fielded a 15-minute survey to 3,000 Americans between the ages of 21 and 70. 

Among those surveyed, only 6 percent said they had  purchased luxury watches or jewelry in the past three months. 

Those with a household income of $100,000-plus, with children, and within the millennial demographic account for the majority of watch and jewelry buyers.

Provoke said 89 percent of these buyers are optimistic about the future but are still concerned about COVID-19 impacting the economy (89 percent), in-person social events (80 percent), in-store shopping (75 percent), their health (71 percent), and their jobs (66 percent).

The study also found that consumers perceive the luxury category as slightly more innovative and a leader compared with other sectors. 

But during the pandemic, survey-takers were less likely to say that they will purchase luxury brands in the future, or that luxury brands fit their current needs. 



When they are shopping for jewelry or watches, survey respondents said the quality of the brand is most important, while price is less important. 

More than half (53 percent) prefer to shop online rather than in store, 68 percent said they like spending time to research items they’re buying, and 54 percent said they would pay more for items that are “sustainably sourced.”

Top-of-Mind Brands
The survey also measured brand strength by giving luxury brands two scores. 

The first was unaided brand awareness, in which survey takes were asked an open-ended question: When thinking about luxury brands, which is top of mind?

The second was a brand equity score, representing the average ratings given by survey takers on “leadership,” “innovation,” “fits needs,” “pay more,” and likelihood to purchase in the next year. These attributes were rated on a 10-point “agree” scale, where one is “strongly disagree” and 10 is “strongly agree.”


 Related stories will be right here … 

Gucci and Rolex led the luxury category when it comes to being top-of-mind for consumers, according to Provoke Insights, with unaided awareness of 20 percent and 11 percent, respectively, and brand equity scores of 6.62 and 6.88.

Not surprisingly, Apple led the scoring in the technology category with unaided brand awareness of 2 percent and a brand equity score of 7.87.

Other luxury brands that were top-of-mind for consumers were: Tiffany & Co. (2 percent unaided brand awareness and a brand equity score of 7.19), Coach, Louis Vuitton, Chanel, and Michael Kors. 
Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

The Latest

MajorsNov 24, 2021
Here Are This Year’s Black Friday Jewelry, Watch Deals

From Amazon to Zales, several retailers have deals lined up for the shopping holiday.

MajorsNov 24, 2021
Former JCK Associate Publisher Donna Borrelli Dies

The longtime industry veteran had a breakthrough case of COVID-19.

MajorsNov 24, 2021
Samuel B Has Now Donated More Than 1M Meals to Feeding America

The company donates 10 meals to the nonprofit for every piece of jewelry it sells.

Brought to you by
Train Your Staff Today with Interactive eLearning

Join the prestigious brands, industry organizations and sellers using IGI’s educational services.

CollectionsNov 24, 2021
Piece of the Week: Sorellina’s Lover’s Bypass Ring

It’s double the toi et moi fun.

Weekly QuizNov 23, 2021
This Week's Quiz
Test your knowledge of jewelry news from the week of Nov. 22-26, 2021.
Take the Quiz
ColumnistsNov 23, 2021
When Did You Know You Wanted To Be in Sales?

A question from an astute young relative has Peter Smith pondering this question in his latest column.

Policies & IssuesNov 23, 2021
BIJC Has an I.D.E.A for Diversity Training in 2022

Starting in January, the Black in Jewelry Coalition will host webinars on addressing racial injustice and encountering racism in retail.

Brought to you by
3 Tips For Entering the Estate Market

Generate foot traffic and expand your jewelry expertise by adding an estate assortment to your store in partnership with Windsor Jewelers, Inc.

SourcingNov 23, 2021
Parlé, Gem Legacy Team Up for Giving Tuesday Fundraising Campaign

Parlé will match donations up to $15,000 in an effort to build houses for teachers at a Tanzanian primary school.

×