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Consumers spend holiday cash on jewellery as retailers experience ‘mini Christmas’ on the high street

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Consumers are choosing to invest in jewellery pieces to mark celebrations that have been postponed due to coronavirus, with retailers experiencing a ‘mini Christmas’ trading boom as a result.

As stores start to reopen fully and consumers emerge from lockdown, retailers have noted an increase in demand for items to gift for occasions such as birthdays, anniversaries and engagements that were put on hold during the pandemic.

Speaking to Professional Jeweller, Nathaniel, director from NB Diamonds ltd, said that consumers are choosing to spend wisely on investment pieces rather than splashing out on holidays or leisure activities.

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 “One of our clients has even labelled this time ‘a mini Christmas’,” he explains. “Lockdown has meant that birthdays, anniversaries and marked occasions have all been put on hold as well as new engagements and babies being born over the period giving reason for celebratory purchasing. Now the retail jewellery stores are open, people are using their time and choosing to spend wisely on investment pieces to mark these occasions rather than holidays and leisure. This has been notable to us with the types of enquires we have seen in the last weeks.”

The diamond expert has also seen a ‘substantial’ rise in demand for bespoke items throughout 2020, which has continued over the last month as retail stores get back on their feet.

Nathaniel adds: “Our customers are looking for the unique pieces and the end users are looking to their shops to find them something more special and are willing to spend a bit more to find the right piece.”

This year, ND Diamonds has released two new collections, including the new Cuff Collection and the Designer Petal range in a bid to plug a gap in the market for luxury products that are good value.

“We have been trying to see where the gaps in the market are for new innovative designs that are more upmarket in style, of significant quality and design but at good price points that allow room for margins for our retailers,” explains Nathaniel.

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Zoe Monk

The author Zoe Monk

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