Consumer survey: Millennials buy jewelry and watches from retailers.
Good news for the brick-and-mortar retail of watches and jewelry: Young people prefer to purchase jewelry and watches in person from specialty retailers. The majority find trust in the retailer and good service very important. These are the findings of the INHORGENTA MUNICH Trend Index by Messe München. A total of 1,040 women and men between the ages of 18 and 35 were questioned as part of the representative survey.
In a survey carried out on behalf of INHORGENTA MUNICH (February 22 to 25, 2019), 44 percent of the women and men between the ages 18 and 35 questioned prefer to purchase jewelry and watches from jewelers and watch sellers in person. 40 percent named department stores as an important supplier. Online shops and retailers take third place (38 percent) followed by the makers’ online shops in fourth place (37 percent)
“Those who purchase high-quality jewelry and watches usually don’t compare prices but rather would like to be excited and fascinated by the products. Many customers experience this especially at physical stores as well as on the online presence of the makers,” said Stefanie Mändlein, Exhibition Director of the international trade fair for jewelry, timepieces and gemstones, INHORGENTA MUNICH.
For the purchase of watches and jewelry, young people highly regard traditional values. 51 percent responded that trusting the retailer was very important. This is followed by good availability of the product (49 percent) and good service (48 percent). Comparatively unimportant is the price/quality ratio (39 percent), the opening hours of the retailer (31 percent) as well as good opportunities for financing (23 percent).
“Watches and jewelry are emotional and very personal products. Therefore, trust places a central role in the shopping experience,” said Klaus Dittrich, Chairman and CEO of Messe München GmbH. “This is good news not only for the retailers but also for the brands. They are ideally positioned to build up this trusting relationship.”