IndependentsApr 01, 2025
Bergman Jewelers in Omaha Closing After 137 YearsThe independent jeweler first opened its doors in 1888.
SurveysJun 18, 2020
4 Insights from De Beers on Current Consumer Attitudes
Here’s how the pandemic is affecting their spending and what they’ll look for in holiday gifts this year.
According to De Beers, 90 percent of respondents in a recent survey said they will look for holiday gifts that are meaningful and will hold their value over time, like diamond jewelry.
London—The COVID-19 pandemic has consumers in the United States reassessing how they spend their money.
To better understand their perspectives and behaviors during both the lockdown and the initial reopening, De Beers has been conducting additional research.
In March, the diamond miner and marketer launched a weekly quantitative survey to collect data, and also began doing a once-a-month “deep dive” into consumer attitudes about diamonds.
“The COVID-19 crisis and associated lockdowns have caused people all around the world to re-evaluate aspects of what’s important in their lives and have reinforced the value of personal relationships,” De Beers Group CEO Bruce Cleaver said.
“While consumer confidence and spending has been significantly impacted in the U.S., this research highlights that diamonds will nonetheless have a unique role to play in people’s lives in a post-lockdown world as they seek to celebrate their most meaningful relationships.”
Though there’s much discussion about consumer behavior post-COVID-19, it’s worth nothing that several areas of the country remain under lockdown and it’s possible stay-at-home orders could be reinstated in others.
Still, here are a few consumer insights De Beers has gleaned from its research for now.
1. Consumers want to continue feeling connected.
Many consumers indicated the quarantine has had some positive effects on their lives—spending more time with family and less time commuting, leaving them feeling grateful for things they used to take for granted.
This feeling of connectedness has extended to their jewelry.
For those polled who already owned diamond jewelry, the majority said they continue to wear it while sheltering in place, mostly because they are used to never taking it off and because it makes them feel connected to someone.
2. They will look for “meaningful” gifts this holiday season.
As consumers look ahead to the holiday season, 56 percent of survey-takers indicated gifts should be meaningful above all, beating out the other three options: practical, functional and fun.
Ninety percent of respondents said choosing presents that hold their value over time also would be an important aspect of gift-buying this holiday season.
When it comes to gifts of this nature, more people chose diamonds as their top choice, beating out other luxury items like designer clothing and accessories, electronics, furniture or other jewelry.
According to the research, three out of four consumers said the crisis hasn’t had an impact on their likelihood to buy diamond jewelry.
3. They will buy
Editors' Picks
Sponsored by
less but spend more on what they do buy.
Two-thirds of consumers polled said their personal finances hadn’t been affected by the crisis and 75 percent said they’re optimistic about their financial situations in the next three years.
Interestingly, 45 percent of those surveyed said they were likely to buy fewer things but invest more in the items they do purchase or, as De Beers put it, “fewer, better things,” a phrase also used in a marketing campaign the company launched in 2008 at the start of the recession.
4. They will turn to independent jewelers for physical shopping.
De Beers’ research showed consumers feel safest when they shop online.
Still, they do think of their local independent jeweler as their best resource for knowledge and quality, and consider local retailers the safest of all brick-and-mortar shopping options.
Also of note from the research is that consumer preference for travel is still declining, with 39 percent of those polled saying it would be seven to 12 months before their spending on travel returns to normal.
Two-thirds of consumers polled said their personal finances hadn’t been affected by the crisis and 75 percent said they’re optimistic about their financial situations in the next three years.
Interestingly, 45 percent of those surveyed said they were likely to buy fewer things but invest more in the items they do purchase or, as De Beers put it, “fewer, better things,” a phrase also used in a marketing campaign the company launched in 2008 at the start of the recession.
4. They will turn to independent jewelers for physical shopping.
De Beers’ research showed consumers feel safest when they shop online.
Still, they do think of their local independent jeweler as their best resource for knowledge and quality, and consider local retailers the safest of all brick-and-mortar shopping options.
Also of note from the research is that consumer preference for travel is still declining, with 39 percent of those polled saying it would be seven to 12 months before their spending on travel returns to normal.
More on Surveys
The Latest
MajorsApr 01, 2025
QVC Group to Cut 900 Jobs in the U.S.The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.
Events & AwardsApr 01, 2025
U.S. Antique Shows Adds Fall Show in FloridaThe debut event will take place in Miami’s Coconut Grove neighborhood this fall.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
Events & AwardsApr 01, 2025
TJS to Host Discussion on Jewelry Industry’s Labor ShortageThe roundtable will take place May 17 ahead of the trade show’s welcome dinner.
Weekly QuizMar 27, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsApr 01, 2025
Monica Rich Kosann Says ‘Good Grief’ in Peanuts Jewelry CollectionThe “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.
Recorded WebinarsMar 31, 2025
Watch: What Do We Mean When We Say ‘Recycled’ Gold?Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
TrendsMar 31, 2025
Amanda’s Style File: Dripping in DiamondsDiamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.
MajorsMar 31, 2025
Lashbrook Expands Into Luxury Golf Gifts With AcquisitionThe Utah-based company known for making wedding bands has acquired Doubloon Golf.
WatchesMar 31, 2025
Bulgari CEO Jean-Christophe Babin Will Also Head LVMH WatchesThe longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry StoreAuthorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.
SourcingMar 28, 2025
19th-Century Jade Book Now Available in EnglishLotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ RingThe ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand AmbassadorThe Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.
SourcingMar 27, 2025
Susan Jacques, Gaetano Cavalieri to Headline 2025 ICA Congress The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.
IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent JewelerThe family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco WatchesThe “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.
MajorsMar 26, 2025
QVC Group Appoints New PresidentAlex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.
Events & AwardsMar 26, 2025
Jewelers of America Announces New Funding Initiative The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.
AuctionsMar 25, 2025
Christie’s To Auction 35-Carat Sapphire, 13-Carat RubyThe ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.
CrimeMar 25, 2025
Tiffany & Co. Earrings Swallowed Following Grab-and-Run Theft RecoveredThe two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.
ColumnistsMar 25, 2025
The Smart Lab: Using Short-Form Videos to Sell More JewelryThe time to start experimenting with video content is now, writes columnist Emmanuel Raheb.
CollectionsMar 24, 2025
Pomellato’s Latest ‘Nudo’ Collections Revamp its Classic DesignFrom striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.
MajorsMar 24, 2025
4 Top Executives to Depart Signet Jewelers Amid TurnaroundThe jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.
WatchesMar 24, 2025
Sotheby's Now Offers Watch Repair ServicesThe auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.
