Bridal jewelry sales are a good indicator of the market’s health. During the pandemic years, the engagement rate fell, and purchases of engagement rings went down accordingly. This “engagement gap” is about to close, however, with jewelers predicting a return to weddings in 2024.
Jewelry journalist Rachael Taylor joined Rapaport Editor in Chief Sonia Esther Soltani on the latest episode of the Rapaport Diamond Podcast to analyze recent bridal developments, from Signet Jewelers’ forecast for the sector to independent retailers’ experiences. Other engagement trends they covered included the rising demand for lab-grown stones, the need for a more diverse offering, and the top designs in demand today.
Taylor wrote the cover story of Rapaport Magazine’s September-October bridal issue, and the podcast highlighted some of the issue’s other wedding-related features — including a fascinating initiative from Indian manufacturer Hari Krishna.
In the second part of the podcast, James Allen chief marketing officer Shannon Delany-Ron spoke with Senior News Reporter Leah Meirovich about the online jeweler’s new ChatGPT plugin. The tool can help customers pinpoint the optimal engagement ring or the perfect piece of jewelry to fit their budget, aesthetic and size requirements, without having to search through thousands of options, said Delany-Ron.