De Beers Group’s fourth Diamond Insight ‘Flash’ report looks at how the pandemic is likely to influence key jewelry design trends this gifting season
Diamond jewelry 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 today.
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 jewelers can expect to see for Fall/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 craftsmanship 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 jewelry brands and can be expected to increase in prevalence as we head into upcoming gifting season, according to the report.
Bruce Cleaver, CEO, De Beers Group, said: “As we head into what will be a crucial selling season for many diamond jewelry 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 craftsmanship, 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 jewelry 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 per cent 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 per cent. In addition, 55 per cent of consumers said they had gone out shopping or socializing 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 jewelry in person and a decrease in those saying they felt safest shopping online.
When it came to the most popular types of diamond jewelry that consumers would be willing to invest in, a diamond ring was the most popular choice at 36% of respondents, followed by a diamond pendant or necklace at 30% and then stud earrings at 22%.
About De Beers
Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. Innovation sits at the heart of the De Beers Group strategy as it develops its portfolio of brands, including De Beers Jewelers and Forevermark, and other pioneering solutions, such as recently launched diamond sourcing and traceability initiatives GemFair and Tracr. De Beers Group employees are committed to ‘Building Forever,’ a holistic and integrated approach for creating a better future – one that is fairer, safer, cleaner and healthier; where safety, human rights and ethical integrity continue to be paramount; and where communities thrive and the environment is protected. De Beers Group is a member of the Anglo American plc group. For more information, please visit www.debeersgroup.com.
