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.

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 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.”
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.
The Latest

The independent jeweler first opened its doors in 1888.

The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.

The debut event will take place in Miami’s Coconut Grove neighborhood this fall.

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

The roundtable will take place May 17 ahead of the trade show’s welcome dinner.


The “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.

Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

Diamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.

The Utah-based company known for making wedding bands has acquired Doubloon Golf.

The longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.

Authorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.

Lotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.

The ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.

However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.

The Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.

The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.

The family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.

The “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.

Alex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.

The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.

The ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.

The two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.

The time to start experimenting with video content is now, writes columnist Emmanuel Raheb.

From striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.

The jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.

The auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.