If it’s been said once, it’s been said a million times - 2020 really has been a strange and scary year! We have all been affected in some way or another by this global pandemic and figuring out how to work with the new normal. Even though we aren’t out of the woods yet, things are starting to pick up and we are taking this time to look back at the past few months to see what trends were seen over this peculiar time and how it may affect the future.
Increase sales online
Unsurprisingly online sales have increased across the globe. In fact it has thought that the need during this time to shift to online sales almost entirely has increase the already rising trend by about 30%. Now more than ever it’s important to have an online presence. This can be tricky for certain sectors of the jewellery trade, particularly mid to high end coloured stone jewellery. Photographing coloured stones and precious metals can be difficult if not done professionally. We feel that to completely fall in love with a stone it must be seen in real life. Nonetheless, we have seen an increase in people buying loose gemstones. Having a returns policy of 14 days has help buyers confidence so if they don’t like the stone they can exchange it or get their money back. Maybe our view of experiencing jewellery and coloured stones has change and we will need to adapt to it.
Increase sales for earrings and necklaces
Now you would be lying if you said you have never gone onto a zoom meeting these past few months wearing smart clothes on top and PJs on down below! Having the vast majority of our meetings online some have changed their buying habits for getting ready for a interview or important meeting by buying a nice pair of earrings rather than a new pair of shoes. Many jewellers have seen an increase in earring and necklace sales the past few months. And seeing as there doesn’t seem to be a massive drive to changing the way we work at the moment any time soon then this may be a trend we will see carrying on.
Lock down didn’t stop engagements
Even though there have been some interesting trends and increase in particular sectors of the industry it wouldn’t be fair to not mention the difficulties the industry has been through. Overall sales have plummeted as luxury goods are not a necessity and people want to hold onto their money due to the uncertainty worldwide. However during uncertain times like these it can make people realise how short life can be and can compel them to making big steps in their lives. Above is a sapphire we supplied to Lilas Jewels based in East Dulwich, London just before the lockdown in England. Amazingly Lilas still fulfilled their ring enquiry during the difficult lockdown restrictions and their customer was over the moon with the result! So despite the uncertainty some companies are still able to deal with your enquires, in fact some have seen a big increase in engagement ring sales. A similar thing happened after 9/11 and the financial crash. It took 12 months for the jewellery trade to recover in general but engagement ring sales skyrocketed. Fingers crossed this carries on to help us get through this difficult time.
Gemstone specialists GF Williams supplies a huge range of high quality coloured gemstones and is an expert and experienced gemstone supplier to designers, manufacturers, collectors and private clients.
Find out more about how GF Williams can fulfil your gemstone requirements by browsing our online gemstone catalogue or contacting our friendly team of gemstone experts on +44 (0) 207 405 5477 or email email@example.com.