. Skip to main content
.

De Beers Group is working actively in the face of the COVID-19 pandemic to understand the consumer perspective and monitor how this evolves as we pass through the stages of the crisis.

To augment our existing research programme, we are conducting additional consumer, retailer and supply chain touch-bases to understand the pain points and the opportunities for partners large and small across the pipeline.

In March 2020, we launched a weekly quantitative survey to collect data on the attitudes, behaviours and expectations of consumers in the US. Once a month we also conduct a deep dive into diamond-specific attitudes.

Select trends from the Diamond Insight Flash Reports

Report #1

Connection

“It makes me feel connected to someone.”

If they own diamond jewellery, the majority of respondents continue to wear it while sheltering in place, primarily because “I never take it off” and “it makes me feel connected to someone.”

Meaning and gratitude

56% Believe gifts should be meaningful

Looking forward to this holiday season, 56% of people believe gifts should be meaningful, over and above “practical”, “functional” or “fun.” Diamonds are the top representation of a holiday gift that symbolises intimacy, connectedness, and love amongst both men and women.

Enduring value

In 2020, 80% of US women agree that diamonds are a valuable asset to own, and 78% believe they are something that will always retain its value.

Report #2

Our second monthly insight report continues to track US consumers, but widens the focus to include the experiences of retailers.

In-store experience still preferred for expert advice and personal attention

62% of consumers prefer to buy diamond jewellery at their local independent jeweller over buying online, on the provision that the environment in the store is safe.

The top three most important considerations were limiting the number of customers in the store (68%), providing hand sanitiser (66%) and ensuring staff wear face masks and gloves at all times (64%).

Continued growth in gratitude, interest in classics and meaningful gifts

Generally, consumers are showing heightened unease, with 42% of Americans believing the COVID-19 peak is at least 6 months away.

To that point, awareness of and gratitude for one’s life and relationships are ever more top of mind. Since last month “increase in appreciation for the things I take for granted” increased from 20% to 26%.

Report #3

Our third monthly insight report looks back at a tumultuous summer and looks forward to Q4 in terms of consumer confidence, the performance of jewellery and key competitive categories, and how best to connect with consumers in the critical holiday shopping season.

Consumer confidence is fragile, but there are some signs of optimism

While spending has normalised in many categories, concerns about the future are evident in the public. From our research, 42% of consumers say overall spending will not return to normal for over six months, which is the highest percentage in eighteen weeks of the survey seeing such a long window for expected recovery.

On the more positive side, almost half (46%) of consumers say they have an optimistic outlook on life overall for the next three months. Twenty-four percent have an optimistic outlook about the US bouncing back overall in the next three months – an increase over the previous two waves.

Forty-six percent say that their jewellery spending is normal now, with another 25% saying that they believe it will normalise within the next six months.

Reduced spend on travel creates significant opportunity for jewellery

Where spending is not normal now/soon is travel: Only 15% believe they will spend on travel in the next six months. In recent years, industry watchers have seen “experiences” – and particularly travel – replace material things as the top choice of millennials for discretionary share of wallet.

At a time when we see a hard stop on travel before 2021, and 70% of consumers are saying they have changed their shopping to opt for “timeless classics” over “new trends,” diamonds are poised to be the gift of choice this holiday season. Consumers say “meaningful” and “practical” are the key characteristics of holiday gifts this year, and when ranked, choose diamond jewellery as their top choice over other fine jewellery, designer accessories, and designer clothing.

Report #4

Our fourth monthly Flash Report continues to look at the evolving consumer landscape, as well as what design trends jewellers can expect to see for Fall/Winter 2020 and the coming year. Adorn Insight, a trend consultancy based in London, looked at our Flash Report data for the past several months, combined with insight into trends in the world of fashion, to forecast the prevailing themes.

Signs of Consumer Optimism and Confidence

The most significant shift observed in our latest research towards recovery in confidence is that both men and women are more likely to purchase and/or receive diamond jewellery in the next 6 months. Women indicated they are wearing more diamond jewellery – particularly their engagement rings and diamond necklaces – relative to previous waves.

We have seen an increase in women saying that they feel safe shopping for diamond jewellery in person, with a decrease in feeling safest shopping online. Many also say they are spending more time connecting with friends and family outside the home, giving back through partaking in charity and community activities and taking on new hobbies. With this new level of optimism, we see an increased comfort level shopping, with consumers opting for pieces that represent enduring value.

Key Findings from the Adorn Insight Trend Report

In the months since lockdowns have been imposed, new trends have emerged in jewellery design.

An interesting trend for consumers who were confined to their homes has been crafting, which has led to exciting and unexpected collaborations between jewellery brands and artisans. As customers seek greater transparency and accountability, brands are standing out by giving recognition to the craftspeople that bring their products to life.

In addition, the lockdowns brought even more attention to the topics of environmental concern and climate change, reminding consumers of their connection to nature. This has led to a trend in designs that celebrate the natural world, and using unorthodox organic materials, and even gemstones and diamonds in their natural, rough form.

As the pandemic has also created significant economic uncertainty, consumers are adopting a ‘buy less, buy better’ mentality and are choosing their purchases mindfully and with greater scrutiny. Consumers are still purchasing important and meaningful gifts, so timeless or ‘classic-with-a-twist’ pieces are likely to resonate this holiday season.

Pulse Survey Results: Gifting Behaviour

In addition to the ongoing research, once a month we also check in with 500 consumers in the US to understand what they are thinking and feeling as we make our way through the COVID-19 crisis. This month we wanted to know how the pandemic has affected gifting and other behaviours.

Two-thirds (65%) of Americans feel more inclined to give a significant gift to someone they love now, compared with how they felt pre-pandemic. And for those in a relationship, this increases to 77%.

The most popular type of diamond jewellery that consumers would be willing to invest in at present is a diamond ring (36% of all respondents), followed by a diamond pendant or neckpiece (30%), and stud earrings (22%). Amongst women, the preference for stud earrings is higher, at 27%.

Report #5

Our fifth instalment of the Diamond Insight Flash Report continues to track the impact of the Covid-19 pandemic on American consumers, specifically exploring the impact on engagements and relationships during this time.

Will you marry me…now?

This holiday season, fine jewellery retailers are reporting that their diamond sales are strong, with bridal being the primary driver for consumer demand. Despite economic hardship, jewellers interviewed for this report have seen engagements go up over this period, with consumers spending more on diamond engagement rings.

Jewellers note that round diamonds and round edged fancy shapes of better qualities are dominating their bestsellers, and that designs have become simpler, with customers less interested in extra pavé and melee embellishments. While halos are still selling well, generally jewelers are seeing engagement ring customers opt for more conservative looks.

Several speculated that customers are continuing to spend on diamond engagement rings despite the economic environment because they are spending less on elaborate weddings and/or honeymoons, and because there is a new level of emotion around the idea of making a commitment to the relationship in a time of heightened uncertainty and fear.

Strong business in bridal jewellery isn’t confined to the independent jeweller level. Signet Jewelers has observed a similar wave nationally, with its Jared and Kay franchises in particular noticing such a strong desire in couples to get engaged or married right away, with staff getting involved in new and unorthodox ways. Employees have been facilitating in-store engagements and weddings, pulling together impromptu ceremonies that have been highly emotional for both customer/celebrants and employees.

Re-shaping priorities: The Knot x De Beers

In an effort to more deeply explore attitudes to commitment and engagement in a COVID-19 world, De Beers Group collaborated with engagement, wedding planning and registry resource The Knot to create The Knot x De Beers Engagement Expectations Study.

In an online, national survey, fielded the week of October 26, The Knot checked in with 360 female consumers who follow How They Ask on Instagram and are in serious relationships and planning to get engaged. The Knot asked how COVID has affected them.

Just over half of respondents say that COVID-19 has had a moderate to significant impact on near-term life plans, such as where they’ll live, for them and their partner. Twenty-one percent say that COVID-19 has had no impact on near-term plans.

Planning the engagement

In terms of getting engaged, about one-third of respondents say they believe their engagement will happen later than planned due to the COVID-19 pandemic, but only 11% believed the pandemic would result in spending less on a ring.

Right now, women are more likely to have thought a lot about their engagement ring (54%) than other aspects of the future like the wedding (32%) or honeymoon (15%), supporting jewelers’ hypothesis that engagement ring sales are strong because wedding/travel budget is being diverted to the ring.

Researching the ring

In terms of doing research on engagement rings, online search is the predominant means of exploration. Most women have looked online for ideas/inspiration (86%) and saved examples of ring styles/designs they like (85%) within the past year. Presently, only a quarter of respondents say they have looked in store at a physical location.

Selecting a ring

The features most important in a ring right now to consumers are the shape of stone (56%) and the style/setting of the ring (41%). The top five important features chosen are the shape of stone, style/setting of the ring, size of stone, type of metal and quality of stone.

Additionally, those who dropped hints to their partner about the ring were most likely to share hints about their preferences regarding style and stone shape.

Half of respondents expect to be somewhat involved (51%) in selecting engagement rings by hinting at preferences. About four in ten expect to be involved in the selection of engagement rings (42%). They want to shop with their partner or tell them the style ring they want. Very few say they will be either very involved (4%) or not at all involved (4%).

Making the proposal

And in keeping with the movement away from public spaces and towards intimacy and the safety of a small circle, a solid majority of respondents say their ideal proposal would be one person proposing to the other (98%), planned ahead of time (69%) and in a private place (70%). Just over half would like just the two of them present (54%), though 21% would like family/friends present and 25% have no preference. Only 6% would like the proposal to occur in a public place. Interestingly, in The Knot’s 2019 Jewelry and Engagement Study, 40% of recently engaged said the proposal happened in a public place.

Report #6

Our sixth instalment of the Diamond Insight Flash Report highlights positive demand trends for natural diamonds over the US holiday season and how attitudes towards lab-grown diamonds are evolving.

Learn more about De Beers Group

Building Forever
Creating Stories
About De Beers Group