Sponsored by the Las Vegas Antique Jewelry and Watch Show
COVID-19: Consumer Trends and Where They’ll Go from Here
A recent survey by Provoke Insights looks at online shopping vs. off, the in-store experience and consumers’ top concerns about the future.
New York—Consumers have adopted new purchasing patterns in light of the restrictions imposed—and in some cases still in place—across the country.
The question remains, which of these habits will stick even as states reopen, and which won’t?
In its most recent study of 2020 consumer trends, market research firm Provoke Insights aimed to gain a better perspective on consumers’ mindsets and behavior changes pre-, during and post-pandemic.
It conducted a survey among 600 U.S. consumers between the ages of 21 and 65, with sampling based on the latest census data so factors like income, age, gender and geography reflected the country’s population.
The 10-minute survey was fielded between June 5 and 15.
Here’s what it found about how consumers have been shopping since March, and how that could change.
Online Luxury Shopping
Perhaps unsurprisingly, according to survey results, 77 percent of Americans who usually wear jewelry said they haven’t been wearing it as often as they did prior to the start of the pandemic—understandable given the trend of dressing more casually while stay-at-home orders were in place.
As jewelry wearing has declined in frequency, so too has online shopping in the category.
According to Provoke Insights, 22 percent of U.S. shoppers aren’t buying as much jewelry online as they were before the pandemic.
Ten percent said they are buying more jewelry than before.
Among the age groups, Provoke found that millennials are most likely to buy jewelry, watches, handbags and other accessories online right now.
In-Store Luxury Shopping
The study also looked at in-store shopping, which 66 percent of survey-takers said they plan to do when stores reopen.
The question, though, is how often they might do that.
According to the survey, 45 percent of Americans will shop in stores the same amount, while 42 percent are planning to shop at luxury retailers less than before the pandemic and 12 percent said they will shop more.
Members of Generation Z—the generation that follows the millennials—and millennials are more likely to shop in-store once luxury retailers reopen.
RELATED CONTENT: 8 Things to Know About That Next Generation … ZAmong Gen Z, 53 percent said they would shop more or the same amount in luxury retailers, while the remaining 47 percent said they would shop less.
For millennials, 60 percent indicated they’d shop at luxury retailers more or the same amount, with the remaining 40 percent indicating they’d shop there less.
The survey showed there’s an interest in “out-of-the-box” retail ideas to provide new shopping opportunities, especially among younger consumers.
RELATED CONTENT: 7 Tips for Keeping Your Online Business RollingA quarter of luxury shoppers are interested in virtual shopping events—with nearly half of Gen Z and more than a third of millennials indicating they’d be interested—and 27 percent also said they’re interested in scheduling an appointment to be able to shop privately and avoid other customers.
Other Categories
A handful of industries have seen their online sales increase throughout the pandemic.
Makeup, for example, is selling at a higher rate online as consumers go digital to purchase their favorite products, with 34 percent of Americans purchasing makeup or skincare online in the last three months, up from 29 percent before March.
Online grocery sales have risen 20 percent over the last three months.
Personal care items and alcohol also have seen an uptick, while online sales of furniture and kitchen appliances have declined.
Future Concerns
Provoke Insights also asked survey-takers about their concerns and outlooks as states reopen.
People are most concerned about COVID-19’s effect on the economy, with 76 percent of survey-takers indicating this is a worry for them.
Sixty-three percent said they’re concerned about social events, 61 percent about eating at restaurants, 55 percent about shopping in stores, 49 percent about health and 37 percent about the security of their job.
Looking ahead, three out of four U.S. consumers said they expect the country to dip into a recession.
Still, the majority—72 percent—are optimistic about the future for various reasons including family, religion and knowing the virus will eventually subside.
Those who indicated they don’t feel optimistic about the future said they’d be more so if there was a COVID-19 vaccine or a change in political leadership, survey results found.
The Latest
Tobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
Stars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.
The branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
The six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
The highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
The “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
The Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
The Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.