The impact of the Covid-19 pandemic on bridal jewelry has been well documented. Demand took a dip in 2023 as global lockdowns lifted, and oversupply flooded the market once production resumed.
“The pandemic created a surge in engagement-ring demand,” explains Alexis Padis, president of California-based brand Padis Jewelry. However that spike made the sector’s decline seem more pronounced when demand returned to normal afterward.
In general, the bridal-jewelry segment is its own beast, with consumers dictating and guiding its trajectory — a dynamic that makes it more vulnerable to external factors. Since the Covid-19 lockdowns ended, the industry has been subject to numerous other challenges, from price drops for both natural and lab-grown diamonds, to geopolitics complicating the supply chain. However, the pandemic was responsible for shaping a number of trends in today’s bridal market.
Better together
The engagement timeline is key to understanding the bridal-jewelry sector in the wake of Covid-19. “The traditional three-year cycle of engagement to marriage” has reemerged after the pandemic’s disruptions, observes a McKinsey & Company report from last year. Jewelers say couples are spending longer shopping for a ring — often because they’re doing it together and enjoying the journey.
“The [process] has definitely become more collaborative. Couples are shopping together more often, sometimes even designing rings as a team,” Padis reports. This desire to make shopping for engagement rings an experience rather than the express add-to-cart task it was during the pandemic is an opportunity for retailers to make their in-store experience personal.
“Consumers want options and choices,” says Dennis Claspell, vice president of sales and marketing at jewelry supply company Rio Grande. “Whether it’s full customization or personalizing certain elements, our retail partners tell us that couples want to be part of the design process, from selecting their own stone to modifying settings or creating something entirely unique.”
The online experience
Jewelers and engagement brands with an online presence lucked out with sales during lockdown, letting couples browse for rings without having to leave home. Now, a seamless online experience is what bridal consumers are expecting, comments Padis. Shoppers count on having digital access to all possible information about their jewelry, including diamond details and origins. Brands have also found ways to personalize the online experience, whether through virtual consultations or AI design tools.
In general, consumers are more comfortable now with buying big-ticket items like engagement rings online. “People trust e-commerce a lot more now, and it’s a more normal purchase than five years ago,” says Krish Himmatramka, founder of sustainable bridal brand Do Amore.
Since Covid-19, clients research more online and on social media and “want to understand every detail,” according to Claspell. In his experience, they typically visit two to four retailers — either in-store or online — before choosing a ring.
Padis agrees that the pandemic shaped the focus on online research, though “most still want the in-person experience when it comes to making the final selection.”
Budgets and background knowledge
Price has long been a guiding force in the bridal-jewelry industry. Today, “price is not as important [as it was before the pandemic] — it’s more important,” asserts Himmatramka. Couples are more budget-conscious, and they’re coming in with a heightened product awareness — especially in regard to lab-grown diamonds, he says, which can get them the desired look at a lower price.
He also points to Gen Z’s increased interest in the ethical value of the rings they buy as the reason he’s seen sales of his products go up despite general bridal demand leveling out post-pandemic.
All of these shifts mean retailers have to work harder to satisfy customers than they might have before the Covid-19 era. It’s no simple task to make jewelry more personal and meaningful while also being mindful of budgets and having each piece’s background information on hand. How jewelers pivot to accommodate consumers’ post-pandemic expectations will continue to determine their success.
Main image: Diamond engagement ring from The Clear Cut. (The Clear Cut)
