US consumers would pay a “great deal” more for jewelry that is ethically sourced and can be traced to its origins, according to a Plumb Club survey.
The study saw a rise in consumer focus on ethically sourced gems, fair-labor practices and origin traceability, the Plumb Club said last week. Some 31% of respondents viewed ethical sourcing as important, an increase of 7% since the last survey, which the group conducted in 2023. Meanwhile, 30% saw fair-trade labor as a significant factor, up 7%, while another 30% viewed origin traceability as important, a rise of 8% from the previous survey. Almost half of respondents stated they would be willing to pay “a lot more” or “a great deal more” for these qualities.
Having more knowledge about a brand’s responsible business practices would influence the purchasing decisions of 78% of consumers. Additionally, 41% said they were unlikely to buy a product if they couldn’t confirm it was responsibly sourced.
Some 88% of shoppers answered they usually bought up to three jewelry items over a 12-month period. However, consumers are now more cautious when purchasing jewelry due to inflation and expenses, with 31% noting they wait for special deals, discounts and promotions, 2% higher than in 2023.
The Plumb Club conducted the study with Paola Deluca of The Futurist and analytics firm Qualtrics. The group surveyed 2,000 people aged 25 to 60 across the US. All participants had some college or higher education and had a combined household of at least $75,000 per year.
Image: A diamond ring. (Shutterstock)
Source : Rapaport
