New Data from Jewel360 Finds Social Media Drives Jewelry Purchases

PROVO, Utah (Perla)-- Jewel360, the all-in-one, cloud-based point of sale (POS) software built to meet the needs of modern jewelry retailers, today released its State of the Jewelry Industry Report, a compilation of transaction data and insights from independent jewelers that highlight the current trends shaping the jewelry industry.

According to the report, 90% of the respondents said that social media influences what customers request. However, 94% still close almost every sale face-to-face, highlighting the importance of trust, expertise, and human connection for buyers.

When it comes to trends, 94% of independent jewelers say yellow gold is the most popular metal choice of consumers. Additionally, 90% are seeing more custom requests, with 65% of that work being heirloom redesign — customers bringing in pieces to melt down and remake.

Other key findings include:
•    Lab-grown diamonds are projected to be the majority of engagement ring sales this year. Three-quarters of bridal stores expect lab-grown to account for more than 50% of engagement sales this year.
•    The rising cost of metals and gemstones are the biggest challenge for jewelers. 
•    A majority of jewelry store owners expect business to grow this year.