We've found a great article by Emili Vesilind, JCK Magazine editor, where she points out many insights about the 2020 trends and consumer behavior patterns that will surely help you understand more the market.
As 2Shapes is the software o choice for leading jewelry companies, we want to share with you the most interesting metrics we found on the original source.
1. Round center stones reign supreme
The most requested main stone cuts on engagement rings are round (43%), oval (15%), and princess (13%).
2. White gold rings stay on top
Engagement rings are mainly requested to be made out of white gold (48%), followed by yellow gold (16%), and then a tie between rose gold and platinum (both 13%)
3. Preferences of proposed ones
The priorities of future brides for its engagement rings were firstly ring style and gem setting, secondly main gem cut, and finally strong>type of gem.
4. Custom design makes you sell more
As noted, 48% of rings that were bought, included some kind of customization.
5. Average carats on rings and main stone
The diamonds on rings had an average weight of 1.5 carats, while the main stone averages around 1.3.
6. Research Online, Purchase Offline
Roughly 33% of engagement rings were first researched online.
7. Social engagement gets your more sales
11% of proposals occurred thanks to jewelers connecting via social media to proposers.
8. Your stores are important
Although a third of engagement rings were purchased online, the majority of sales occurred in person (63%), and from those, the local jeweler was the most benefited (51%), followed by national retailers (33%).
9. Restrictions cost
Because of the restrictions applied, proposers visited on average 1 fewer retailer and viewed 7 fewer rings comparing to 2019 metrics.
10. Affordable options win
The average cost of an engagement ring fell from 2019s $5,900 to 2020s $5,500.
11. Involvement in the decision
In 2020, 72% of proposed individuals reported having helped in the engagement ring selection.
So, what do you think of the newest data, have you felt these changes in your business? Do you want to know how using 2Shapes can help you benefit from these new trends? Schedule now a 1 to 1 session with our specialists to know how you can jump-start your business as soon as possible.