The jewellery consumer, post pandemic
January 14, 2021
How will the experience of the pandemic and its economic and social fallout have changed jewellery consumer motivations, and what must the industry do in order to adjust?
There is general consensus among market experts that consumers in general, and consumers of luxury products in particular, are being transformed by the COVID experience – both in terms of what drives them to make purchasing decisions, and in terms of the types of service they demand from retailers. Certain of these changes, such as the search for social value in the products they buy, may have been directly triggered by the pandemic, while others were ongoing processes accelerated by COVID, such as the increased reliance on online and omni-channel trading and marketing.
These transformations and the strategies that the jewellery industry must adopt to address them were the subject of a Jewellery Industry Voices webinar. Entitled “The Jewellery Consumer, Post Pandemic,” it took place on January 14, 2021.
The expert panel was gathered to discuss the issue. It included Anita Balchandani, a partner at McKinsey & Company in London, and the head of its consultancy for the apparel, fashion and luxury sectors in the United Kingdom, Europe and the Middle East; Melanie Grant, Luxury Editor for 1843 Magazine, the lifestyle sister publication to The Economist; Andrew Siegel, Chief Operating Officer of the New Jersey-headquartered Hamilton Jewelers group; and Charles Bonas, CEO of the Bonas Group, a diamond tender and auction house, and a brokerage and consultancy firm for the diamond and gemstone industries.
The webinar was co-moderated by Edward Johnson and Steven Benson, and Gaetano Cavalieri, CIBJO President, welcomed the participants.
WEBINAR SPONSORED BY
Jewellery Industry Voices