As consumer surveys continue to show an increasing demand for environmentally sustainable products and services, one retailer of pre-owned jewellery has revealed that a growth in its business could be down to this trend.
William May is a Manchester-based second hand jeweller, boasting nearly two centuries in the business.
It sells engagement rings as well as other rings, bracelets, necklaces, watches and more jewellery.
Managing director, Nick Withington, revealed exclusively to Professional Jeweller that he believes part of the reason for William May’s success in recent years could be down to a consumer trend towards sustainable or environmentally friendly products.
Discussing a year-on-year doubling of William May’s revenue during lockdown, and a continuing 50% uptick compared to 2019 since lockdown, he said: “The pre-owned market is still relatively small when compared to jewellery as a whole, but it’s growing year on year.
“Particularly,” Withington continued, “as consumers are becoming more environmentally aware and they are attracted to the idea of something meaningful.”
This is an idea that can be seen in the recent boom in lab-grown diamonds. Just last week, diamond giant De Beers started a campaign designed to reinvigorate interest in natural or mined stones – perhaps a sign of increased ethical and sustainable values among customers.
Read more below about the 100% year-on-year increase in revenue William May saw while operating solely online during lockdown: