Jewellery Consumer Sentiment and Behaviour

 

PGI Insight published on long-term effects of Covid-19

Recently, Platinum Guild International (PGI) published its, PGI Insight, Jewellery Consumer Sentiment and Behaviour During and Post the Covid-19 Crisis. The report says, while the long-term effects of the ongoing Covid-19 crisis on the preciorous jewellery industry will depend on a number of factors, it is possible to envisage three overall scenarios: 

A fast and conclusive V-shaped recovery, a slower but conclusive U-shaped recovery and a slow, unsteady L-shaped recovery in order to gain insight on potential trajectories, PGI and Sinus Institute designed an international flash survey among jewellery purchasers. 

In late April and May, the survey interviewed over 1,000 jewellery buyers and wearers in each of platinum jewellery’s four key markets – China, Japan, India and the United States, to understand areas of insight include jewellery-specific and general consumer attitudes and behaviours under the current Covid-19 crisis and in the near future, as well as the impact of Covid-19 on everyday life and relationships and expectations for economic recovery.  

Precious jewellery buyers tend to possess the economic resources to maintain a higher standard of living, even during an economic slowdown. Therefore, it’s unsurprising that nearly all consumers in the top four markets surveyed believe the impact of Covid-19 will be somewhat moderately less severe on their personal lives compared to the financial strain this pandemic will likely have on their country overall.