Report suggests sales are growing in £1,500 to £2,000 price bracket.
Jewellery retailers including Boodles, Harrods and Bentley & Skinner have reported a surged in demand from women buying jewellery in the £1,500 to £2,000 price bracket, according to a report in The Times.
The newspaper says its research shows women are no-longer purchasing designer bags and are opting for fine jewellery as an alternative.
Online shops, such as Stylebop.com and Matches.com are said to “confirm the trend”, reporting an increase in sales as women opt for precious metal pieces as a form of investment, instead of leather goods.
Astley Clarke founder, Bec Astley, told the newspaper: “Women are investing in precious jewellery that can be worn every day, whether with your best cocktail dress or jeans and a T-shirt. We find our delicate rose and yellow gold pieces in 14ct with a sprinkling of diamond pavé are especially popular — they have a strong design aesthetic but are classic enough to be worn with everything.”
Monica Vinader is also reported to have experienced a 25% uplift in sales from the self-gifting customer, commenting: “What is different is how women are increasingly turning to jewellery to transform their wardrobes.”
Stylebop.com fashion director, Leila Yavari is also quoted in the report as saying jewellery is becoming increasingly trendy, largely due to a plethora of talented young designers.
The Times also points to Loquet London founder Sheherazade Goldsmith, who argues bespoke jewellery pieces are likely to transcend the pulling power of handbags in the long term.